Hurricane Milton Relief Response: Regions Bank Announces Disaster-Recovery Financial Services for Impacted Florida Markets
Regions Bank has announced disaster-recovery financial services for Florida communities affected by Hurricane Milton. The bank is offering several temporary relief measures including: waived ATM surcharges, mortgage disaster relief programs, payment deferrals for credit cards and business loans, penalty-free CD withdrawals, and interest rate discounts on various loans. Special disaster response rates include 0.50% discounts on personal unsecured loans, business loans up to $1 million, and auto loans. The bank has established dedicated contact centers for customer support and is conducting assessments of impacted branches across Florida. The Regions Foundation is expected to announce grant funding for organizations providing disaster relief.
Regions Bank ha annunciato servizi finanziari per il recupero da disastri per le comunità della Florida colpite dall'Uragano Milton. La banca sta offrendo diverse misure di sollievo temporaneo tra cui: esenzione dalle commissioni di prelievo agli sportelli automatici, programmi di aiuto per i mutui in caso di calamità, rinvii di pagamento per carte di credito e prestiti aziendali, prelievi dai certificati di deposito senza penali e sconti sui tassi di interesse per vari prestiti. Le tariffe speciali per la risposta ai disastri includono sconti dello 0,50% su prestiti personali non garantiti, prestiti aziendali fino a $1 milione e prestiti auto. La banca ha istituito centri di contatto dedicati per il supporto clienti e sta conducendo valutazioni delle filiali colpite in tutta la Florida. Si prevede che la Regions Foundation annuncerà finanziamenti a sovvenzione per le organizzazioni che forniscono assistenza in caso di calamità.
Regions Bank ha anunciado servicios financieros de recuperación ante desastres para las comunidades de Florida afectadas por el Huracán Milton. El banco está ofreciendo varias medidas temporales de alivio que incluyen: exención de cargos por el uso de cajeros automáticos, programas de ayuda para hipotecas, aplazamientos de pagos para tarjetas de crédito y préstamos empresariales, retiros sin penalización de certificados de depósito, y descuentos en tasas de interés en varios préstamos. Las tarifas especiales de respuesta a desastres incluyen descuentos del 0.50% en préstamos personales no garantizados, préstamos comerciales de hasta $1 millón y préstamos para automóviles. El banco ha establecido centros de contacto dedicados para el apoyo al cliente y está realizando evaluaciones de las sucursales afectadas en toda Florida. Se espera que la Regions Foundation anuncie financiamiento de subvenciones para organizaciones que brindan ayuda ante desastres.
Regions Bank는 허리케인 밀턴으로 영향을 받은 플로리다 지역사회에 대한 재난 복구 금융 서비스를 발표했습니다. 은행은 다음과 같은 여러 가지 임시 지원 조치를 제공하고 있습니다: ATM 수수료 면제, 재난 대출 프로그램, 신용 카드 및 사업 대출의 지불 연기, 패널티 없는 CD 인출, 다양한 대출의 이율 할인. 특별 재난 대응 요금은 개인 무담보 대출, 비즈니스 대출 최대 $1 백만 및 자동차 대출에 대해 0.50%의 할인이 포함됩니다. 은행은 고객 지원을 위한 전담 연락 센터를 설립하고 플로리다 전역에서 피해 지점을 평가하고 있습니다. Regions Foundation은 재난 구호를 제공하는 기관에 대한 보조금 자금을 발표할 것으로 예상됩니다.
Regions Bank a annoncé des services financiers de récupération après sinistre pour les communautés de Floride touchées par l'ouragan Milton. La banque propose plusieurs mesures d'allégement temporaire, y compris : l'exonération des frais de distributeur automatique, des programmes d'aide hypothécaire en cas de catastrophe, le report de paiements pour les cartes de crédit et les prêts professionnels, des retraits de certificats de dépôt sans pénalité, et des réductions de taux d'intérêt sur divers prêts. Les taux de réponse aux sinistres spéciaux incluent des réductions de 0,50 % sur les prêts personnels non garantis, les prêts commerciaux jusqu'à 1 million de dollars et les prêts automobiles. La banque a mis en place des centres de contact dédiés pour le soutien client et réalise des évaluations des agences touchées à travers la Floride. Il est prévu que la Regions Foundation annonce un financement par subventions pour les organisations fournissant une aide en cas de catastrophe.
Regions Bank hat Finanzdienstleistungen zur Katastrophenbewältigung für von Hurrikan Milton betroffene Gemeinden in Florida angekündigt. Die Bank bietet mehrere vorübergehende Entlastungsmaßnahmen an, darunter: Verzicht auf Gebühren an Geldautomaten, Programme zur Hilfe bei Hypotheken in Katastrophenfällen, Zahlungsaufschübe für Kreditkarten und Geschäftskredite, gebührenfreie Abhebungen von Festgeldkonten sowie Zinsrabatte auf verschiedene Kredite. Besondere Katastrophenreaktionszinsen beinhalten Rabatte von 0,50% auf persönliche ungesicherte Kredite, Geschäftskredite bis zu 1 Million Dollar und Autokredite. Die Bank hat spezielle Kontaktzentren für den Kundensupport eingerichtet und führt Bewertungen der betroffenen Filialen in ganz Florida durch. Die Regions Foundation wird voraussichtlich Fördergelder für Organisationen ankündigen, die Katastrophenhilfe leisten.
- Offering 0.50% interest rate discounts on various loans including business loans up to $1 million
- Providing payment deferrals up to 90 days for business loans
- Implementing fee waivers for ATM usage and FEMA check cashing
- Potential temporary branch closures in affected areas pending damage assessment
- time availability of special financial services
- Restricted geographical availability of relief services to specific impacted areas
Insights
This disaster-recovery response from Regions Bank, while supportive for affected communities, has minimal direct impact on the bank's financial performance. The temporary fee waivers and interest rate discounts represent standard industry practice following natural disasters and are unlikely to materially affect revenue. Key offerings include:
- ATM fee waivers through October 23
0.50% interest rate discounts on various loans- Payment deferrals up to 90 days
- Special business lending terms for recovery needs
While these measures demonstrate strong community engagement and could support long-term customer loyalty, the short-term cost to the bank is manageable within normal operating expenses. The potential for increased lending activity during recovery may provide some revenue opportunities, but this is typically offset by temporary fee waivers and potential loan losses in affected areas.
Regional effects of second named storm in two weeks prompt new wave of special banking services from Regions Bank.
By Ashley Foster
TAMPA, FL / ACCESSWIRE / October 28, 2024 / In the wake of Hurricane Milton, Regions Bank announced a series of disaster-recovery financial services designed to help people and businesses in communities across Florida's impacted storm path.
"Our hearts are with everyone who's been affected by Milton, and in the days, weeks and months to come, our teams stand ready to help people assess their financial needs and build a plan to confidently move forward," said John Jordan, head of Retail for Regions Bank. "This is a time when our teams work with heightened urgency for our customers; it's a time for us to lean into our experience and help people and businesses navigate the difficult paths that lie ahead. And beyond the services we're announcing today, we invite our customers to meet with our teams one-on-one to discuss your situation in-depth so we can look for any other ways our services and support can help."
Special Bank Services:
The following services and special offers are now in effect for a limited time in impacted areas1:
Regions will waive ATM Surcharges at Regions ATMs for non-customers in the impacted areas1 through at least Oct. 23.
The bank will also waive fees charged when Regions customers use other banks' ATMs in the impacted areas through at least Oct. 23. (Note: Fees charged by other banks or ATM owners may still apply.)
Regions will provide Mortgage Disaster Relief Purchase and Renovation loan programs.
The bank will remove check-cashing fees for FEMA-issued checks when cashed in a Regions branch2.
Personal and business loan payment assistance3 is available for qualified customers.
Regions is offering payment deferrals for current credit card holders3.
The bank can provide business loan payment deferrals of up to 90 days3.
Additionally, Regions is offering one penalty-free CD withdrawal upon request (unless within seven days of issuance or renewal).
Regions is offering a Disaster Response interest rate discount of
0.50% on new personal unsecured loans when customers apply in a branch or by phone4.Regions is offering a Disaster Response interest rate discount of
0.50% on standard rates for new business loans or lines of credit of up to$1 million to help with recovery needs in impacted areas4.Regions is offering a Disaster Response interest rate discount of
0.50% on new unsecured business term loans of up to$50,000 with up to 36-month terms, including waived origination and loan document fees, as well as options for the first payments to be deferred by up to 90 days4.Regions is offering a Disaster Response interest rate discount of up to
0.50% on non-business auto loans when customers apply in-branch or by phone5.Dedicated Contact Center:
For help with loans, credit cards, or deposit accounts: 1-800-221-7471
For help with any other banking need: 1-800-411-9393
The areas covered by these services could be expanded in the coming days to include additional communities based on continued damage assessments or further disaster declarations from the Federal Emergency Management Agency. Check https://www.regions.com/hurricanemilton for an updated list of areas where these offers are available as damage assessments continue.
Regions' branches in impacted portions of western, central and eastern Florida are currently being assessed, and any closed locations will reopen as soon as possible pending the restoration of utilities, debris removal, any required repair work or other necessary steps for business to resume as normal. In addition, banking services remain available around the clock through Regions.com, the Regions Mobile Banking App, and other Regions branch locations across Florida, the Southeast and beyond.
Business Support:
Regions Bank's business clients include companies of various sizes, from smaller businesses to major corporations. Just as the bank delivers customized financial guidance for individual consumers, so, too, will Regions' teams support business clients through the recovery.
"There are many companies, large and small, that will be working to get back to normal while also supporting the short-term and long-term recovery of their communities," said Nikki Stephenson, head of Commercial Banking for Regions. "As always, we're ready to work with business clients one-on-one to discuss their needs and identify the best financial services and solutions to support their operations. We'll be calling on clients proactively, and we welcome any company seeking financial guidance through the recovery process to let us know how we can help."
Here for You:
In addition to the above disaster-recovery services, Regions Bank teams can be contacted at the following numbers for customized guidance on a range of lending products, including:
Mortgages, home equity loans and lines: 1-800-748-9498
Other consumer loans: 1-866-298-1113
Any other banking needs: 1-800-411-9393
Community Support:
In addition to special financial services from Regions Bank, the Regions Foundation - a nonprofit funded primarily by Regions Bank - is expected to announce grant funding in the coming days for organizations providing disaster relief. For example, following Hurricane Helene, the Regions Foundation announced a series of grants for several agencies supporting recovery operations across multiple states. Once grants are finalized for organizations supporting the recovery from Milton in Florida, information will be posted at regions.doingmoretoday.com.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with
About Regions Foundation:
The Alabama-based Region Foundation supports community investments that positively impact communities served by Regions Bank. The Foundation engages in a grantmaking program focused on priorities including economic and community development; education and workforce readiness; and financial wellness. The Foundation is a nonprofit 501(c)(3) corporation funded primarily through contributions from Regions Bank. To learn more about the Regions Foundation visit www.regions.com/foundation.
1Offers are available for a limited time and only to individuals and businesses affected by the recent disaster in the ZIP codes listed below, may be subject to other exclusions and restrictions, and are subject to change without notice. All loans and lines, deferrals, extensions or forbearances may be subject to required documentation and credit approval. Residency restrictions may apply.
Affected ZIP codes are as follows; please note: the list of ZIP codes could be expanded to include additional communities based on ongoing assessments from the Federal Emergency Management Agency:
32114, 32115, 32116, 32117, 32118, 32119, 32120, 32121, 32122, 32123, 32124, 32125, 32126, 32127, 32128, 32129, 32130, 32132, 32141, 32163, 32168, 32169, 32170, 32173, 32174, 32175, 32176, 32198, 32701, 32702, 32703, 32704, 32706, 32707, 32708, 32709, 32710, 32712, 32713, 32714, 32715, 32716, 32718, 32719, 32720, 32721, 32722, 32723, 32724, 32725, 32726, 32727, 32728, 32730, 32732, 32733, 32735, 32736, 32738, 32739, 32744, 32745, 32746, 32747, 32750, 32751, 32752, 32753, 32754, 32756, 32757, 32759, 32762, 32763, 32764, 32765, 32766, 32767, 32768, 32771, 32772, 32773, 32774, 32775, 32776, 32777, 32778, 32779, 32780, 32781, 32783, 32784, 32789, 32790, 32791, 32792, 32793, 32794, 32795, 32796, 32798, 32799, 32801, 32802, 32803, 32804, 32805, 32806, 32807, 32808, 32809, 32810, 32811, 32812, 32814, 32815, 32816, 32817, 32818, 32819, 32820, 32821, 32822, 32824, 32825, 32826, 32827, 32828, 32829, 32830, 32831, 32832, 32833, 32834, 32835, 32836, 32837, 32839, 32853, 32854, 32855, 32856, 32857, 32858, 32859, 32860, 32861, 32862, 32867, 32868, 32869, 32872, 32877, 32878, 32885, 32886, 32887, 32891, 32896, 32897, 32899, 32901, 32902, 32903, 32904, 32905, 32906, 32907, 32908, 32909, 32910, 32911, 32912, 32919, 32920, 32922, 32923, 32924, 32925, 32926, 32927, 32931, 32932, 32934, 32935, 32936, 32937, 32940, 32941, 32948, 32949, 32950, 32951, 32952, 32953, 32954, 32955, 32956, 32957, 32958, 32959, 32960, 32961, 32962, 32963, 32964, 32965, 32966, 32967, 32968, 32969, 32970, 32971, 32976, 32978, 33503, 33508, 33509, 33510, 33511, 33513, 33514, 33521, 33523, 33524, 33525, 33526, 33527, 33530, 33534, 33537, 33538, 33539, 33540, 33541, 33542, 33543, 33544, 33545, 33547, 33548, 33549, 33550, 33556, 33558, 33559, 33563, 33564, 33565, 33566, 33567, 33568, 33569, 33570, 33571, 33572, 33573, 33574, 33575, 33576, 33578, 33579, 33583, 33584, 33585, 33586, 33587, 33592, 33593, 33594, 33595, 33596, 33597, 33598, 33601, 33602, 33603, 33604, 33605, 33606, 33607, 33608, 33609, 33610, 33611, 33612, 33613, 33614, 33615, 33616, 33617, 33618, 33619, 33620, 33621, 33622, 33623, 33624, 33625, 33626, 33629, 33630, 33631, 33633, 33634, 33635, 33637, 33646, 33647, 33650, 33655, 33660, 33664, 33672, 33673, 33674, 33675, 33677, 33679, 33680, 33681, 33682, 33684, 33685, 33686, 33687, 33688, 33689, 33694, 33701, 33702, 33703, 33704, 33705, 33706, 33707, 33708, 33709, 33710, 33711, 33712, 33713, 33714, 33715, 33716, 33729, 33730, 33731, 33732, 33733, 33734, 33736, 33738, 33740, 33741, 33742, 33743, 33744, 33747, 33755, 33756, 33757, 33758, 33759, 33760, 33761, 33762, 33763, 33764, 33765, 33766, 33767, 33769, 33770, 33771, 33772, 33773, 33774, 33775, 33776, 33777, 33778, 33779, 33780, 33781, 33782, 33784, 33785, 33786, 33801, 33802, 33803, 33804, 33805, 33806, 33807, 33809, 33810, 33811, 33812, 33813, 33815, 33820, 33823, 33825, 33826, 33827, 33830, 33831, 33834, 33835, 33836, 33837, 33838, 33839, 33840, 33841, 33843, 33844, 33845, 33846, 33847, 33848, 33849, 33850, 33851, 33852, 33853, 33854, 33855, 33856, 33857, 33858, 33859, 33860, 33862, 33863, 33865, 33867, 33868, 33870, 33871, 33872, 33873, 33875, 33876, 33877, 33880, 33881, 33882, 33883, 33884, 33885, 33888, 33890, 33896, 33897, 33898, 33901, 33902, 33903, 33904, 33905, 33906, 33907, 33908, 33909, 33910, 33911, 33912, 33913, 33914, 33915, 33916, 33917, 33918, 33919, 33920, 33921, 33922, 33924, 33927, 33928, 33929, 33931, 33932, 33936, 33938, 33945, 33946, 33947, 33948, 33949, 33950, 33951, 33952, 33953, 33954, 33955, 33956, 33957, 33960, 33965, 33966, 33967, 33970, 33971, 33972, 33973, 33974, 33976, 33980, 33981, 33982, 33983, 33990, 33991, 33993, 33994, 34101, 34102, 34103, 34104, 34105, 34106, 34107, 34108, 34109, 34110, 34112, 34113, 34114, 34116, 34117, 34119, 34120, 34133, 34134, 34135, 34136, 34145, 34146, 34201, 34202, 34203, 34204, 34205, 34206, 34207, 34208, 34209, 34210, 34211, 34212, 34215, 34216, 34217, 34218, 34219, 34220, 34221, 34222, 34223, 34224, 34228, 34229, 34230, 34231, 34232, 34233, 34234, 34235, 34236, 34237, 34238, 34239, 34240, 34241, 34242, 34243, 34249, 34250, 34251, 34260, 34264, 34265, 34266, 34267, 34268, 34269, 34270, 34272, 34274, 34275, 34276, 34277, 34280, 34281, 34282, 34284, 34285, 34286, 34287, 34288, 34289, 34290, 34291, 34292, 34293, 34295, 34436, 34601, 34602, 34603, 34604, 34605, 34606, 34607, 34608, 34609, 34610, 34611, 34613, 34614, 34636, 34637, 34638, 34639, 34652, 34653, 34654, 34655, 34656, 34660, 34661, 34667, 34668, 34669, 34673, 34674, 34677, 34679, 34680, 34681, 34682, 34683, 34684, 34685, 34688, 34689, 34690, 34691, 34692, 34695, 34697, 34698, 34705, 34711, 34712, 34713, 34714, 34715, 34729, 34731, 34734, 34736, 34737, 34739, 34740, 34741, 34742, 34743, 34744, 34745, 34746, 34747, 34748, 34749, 34753, 34755, 34756, 34758, 34759, 34760, 34761, 34762, 34769, 34770, 34771, 34772, 34773, 34777, 34778, 34785, 34786, 34787, 34788, 34789, 34797, 34945, 34946, 34947, 34948, 34949, 34950, 34951, 34952, 34953, 34954, 34957, 34958, 34972, 34979, 34981, 34982, 34983, 34984, 34985, 34986, 34987, 34994, 34995, 34996
2The FEMA no check-cashing fee offer is available only to Regions customers; if you are not a Regions customer, you must enroll in Now Banking. No checking account is required to enroll in Now Banking. Regions reserves the right to refuse to cash any check.
3May be subject to credit approval. Interest will continue to accrue during the period that the payment is skipped or deferred. For installment loans, deferring or skipping payment may extend the maturity of your loan but will not automatically extend any optional insurance. Forbearances, skipped payments and deferrals (a) may vary by customer, (b) postpone - rather than forgive - certain payment obligations and (c) may require payment in full of the postponed payments at the end of the forbearance or deferral period, in addition to any other amounts that come due, unless you make other arrangements with Regions to resolve the delinquency.
4New business loan and personal unsecured loan rate discounts may not be combined with other special offers or discounts. Interest will accrue during the optional 90-day payment deferral period for unsecured business loans if elected.
5Auto loan rate discount of up to
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Contact Info:
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Email: info@3blmedia.com
SOURCE: Regions Bank
View the original press release on accesswire.com
FAQ
What disaster relief services is Regions Bank (RF) offering for Hurricane Milton victims?
How long will Regions Bank (RF) waive ATM fees for Hurricane Milton victims?
What business loan support is Regions Bank (RF) providing after Hurricane Milton?
