Hurricane Milton Relief Response: Regions Bank Announces Disaster-Recovery Financial Services for Impacted Florida Markets

Rhea-AI Summary

Regions Bank has announced a series of disaster-recovery financial services to assist people and businesses affected by Hurricane Milton in Florida. These services include:

• Waived ATM surcharges for non-customers and fees for Regions customers using other banks' ATMs in impacted areas until October 23
• Mortgage Disaster Relief Purchase and Renovation loan programs
• Removal of check-cashing fees for FEMA-issued checks
• Personal and business loan payment assistance
• Credit card payment deferrals
• Business loan payment deferrals of up to 90 days
• Penalty-free CD withdrawal
• Interest rate discounts on various new loans and lines of credit

The bank has also set up dedicated contact centers for customer support and is assessing branch operations in affected areas. The Regions Foundation is expected to announce grant funding for organizations providing disaster relief in the coming days.

Positive

• Offering various fee waivers and financial assistance to customers affected by Hurricane Milton
• Providing interest rate discounts on new loans and lines of credit for disaster recovery
• Establishing dedicated contact centers for customer support during the crisis
• Potential grant funding from Regions Foundation for disaster relief organizations

Negative

• None.

Regional effects of second named storm in two weeks prompt new wave of special banking services from Regions Bank.

TAMPA, Fla.--(BUSINESS WIRE)-- In the wake of Hurricane Milton, Regions Bank on Friday announced a series of disaster-recovery financial services designed to help people and businesses in communities across Florida’s impacted storm path.

Regions Bank immediately launched a series of disaster-recovery financial services to help people and businesses impacted by Hurricane Milton. (Photo: Business Wire)

“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 $154 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,250 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

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.

^{____________________________________________________________
1} Offers 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

² The 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.

³ May 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.

⁴ New 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.

⁵ Auto loan rate discount of up to 0.50% includes 0.25% disaster relief rate discount with an additional 0.25% rate discount when you enroll in auto debit payments from an existing Regions checking account. Auto loan rate discounts cannot be combined with other special offers or discounts.

Regions and the Regions logo are registered trademarks of Regions Bank. The LifeGreen color is a trademark of Regions Bank.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241010401205/en/

Media Contact:

Ashley Foster

Regions Bank

Regions News Online: regions.doingmoretoday.com

(205) 264-4551

Source: Regions Financial Corporation

FAQ

What financial services is Regions Bank (RF) offering for Hurricane Milton relief?

Regions Bank is offering waived ATM fees, mortgage disaster relief programs, loan payment assistance, credit card payment deferrals, penalty-free CD withdrawals, and interest rate discounts on various new loans and lines of credit for disaster recovery.

How long will Regions Bank (RF) waive ATM fees for Hurricane Milton affected areas?

Regions Bank will waive ATM surcharges for non-customers and fees for Regions customers using other banks' ATMs in impacted areas until at least October 23, 2024.

Is Regions Bank (RF) offering business loan assistance for Hurricane Milton recovery?

Yes, Regions Bank is offering business loan payment deferrals of up to 90 days and interest rate discounts on new business loans or lines of credit of up to $1 million for recovery needs in impacted areas.

How can affected customers contact Regions Bank (RF) for Hurricane Milton assistance?

Customers can contact Regions Bank at 1-800-221-7471 for help with loans, credit cards, or deposit accounts, and 1-800-411-9393 for any other banking needs related to Hurricane Milton relief.