Service and Support: Regions Bank and the Regions Foundation Announce Tornado Response Plan

Rhea-AI Summary

Regions Bank (NYSE: RF) and the Regions Foundation announced a tornado response plan to support communities impacted by tornadoes in Tennessee and Kentucky. The plan includes $100,000 funding from the Regions Foundation to support community-based recovery efforts and disaster-recovery financial services from Regions Bank to help people and businesses in Middle Tennessee and Southern Kentucky.

Regions Foundation funding to support community recovery; Regions Bank services designed to help people impacted by recent storms in Tennessee and Kentucky

CLARKSVILLE, Tenn.--(BUSINESS WIRE)-- Regions Bank and the Regions Foundation on Wednesday announced a tornado response plan aimed at supporting communities that were impacted by a series of tornadoes Saturday, Dec. 9.

Regions and its predecessor banks have served people and businesses in Middle Tennessee for 140 years. The Alabama-based Regions Foundation is a nonprofit primarily funded by Regions Bank to support community needs, including disaster recovery. (Photo: Business Wire)

The plan is built around two key elements:

1. Funding from the Regions Foundation to support community-based recovery efforts
2. Disaster-recovery financial services from Regions Bank to help people and businesses in Middle Tennessee and Southern Kentucky

Regions Foundation Funding:

The Regions Foundation is providing a total of $100,000 to be divided among tornado relief funds operated by United Way of Greater Nashville and the Community Foundation of Middle Tennessee, as well as the food distribution program operated by Manna Café Ministries in Clarksville.

United Way of Greater Nashville and the Community Foundation of Middle Tennessee quickly launched a coordinated storm response after Saturday’s tornadoes. Together, the organizations are working with nonprofits and faith-based community partners to address a wide range of urgent needs for storm survivors in several counties. From the Foundation’s $100,000 in grant funding, $90,000 will be allocated toward these relief efforts serving people across Middle Tennessee.

Manna Café Ministries operates hunger relief programs and delivers other vital services for people across Montgomery and Stewart counties. Manna Café will receive the additional $10,000 from the Regions Foundation’s grant funding to help address community needs amid the recovery.

“These organizations are on the ground doing what they do best – meeting important needs, while providing care and compassion, and we are proud to support their work,” said Marta Self, executive director of the Regions Foundation. “We recognize this will be a long and difficult recovery. But we are encouraged by the spirit of unity and determination that’s evident in every community as neighbors help neighbors. Our goal with this funding is to provide resources to help keep the recovery moving forward in the days, weeks, and months to come.”

The Community Foundation of Middle Tennessee and United Way of Greater Nashville urge additional organizations, businesses, and individuals to support relief work. More information is available in this link. Likewise, additional information and donation opportunities for Manna Café can be found here.

Based in Alabama, the Regions Foundation is a nonprofit funded primarily by Regions Bank. The Regions Foundation issues grants supporting several key initiatives, including disaster relief, across communities in the South, Midwest, and Texas.

Disaster-Recovery Financial Services from Regions Bank:

Separately, Regions Bank has designed financial services to help people and businesses impacted by the tornadoes. The following options are available for a limited time in affected communities¹ in Middle Tennessee and Southern Kentucky. Services include:

• Regions Mortgage Disaster Relief Purchase and Renovation loan programs are available.
• Non-Regions ATM fees will be waived when Regions customers use other banks’ ATMs in the impacted areas¹ for at least seven days beginning Dec. 13, 2023. (Note: Fees charged by other banks or ATM owners may still apply.)
• Regions will waive ATM surcharges for non-Regions customers using Regions ATMs in the impacted areas for seven days beginning Dec. 13, 2023.
• No check-cashing fees will be charged for FEMA-issued checks when cashed in a Regions branch.²
• Personal and business loan payment assistance is available.³
• Payment deferrals are available for current credit card holders.³
• Business loan payment deferrals of up to 90 days are available, expiring March 12, 2024.³
• One penalty-free CD withdrawal is available upon request (unless within seven days of issuance or renewal) for up to 90 days, expiring March 12, 2024.
• An interest rate discount of up to 0.50% on new personal unsecured loans when customers in impacted areas apply in a branch or by phone⁴. The offer is available for up to 90 days, expiring March 12, 2024.
• An interest rate discount of up to 0.50% on auto loans when customers in impacted areas apply in-branch or by phone⁴. The offer is available for up to 90 days, expiring March 12, 2024.

Regions Bank also has dedicated teams available to help customers with questions or needs related to the following services:

• Mortgages, home equity loans, and lines of credit: Call 1-800-748-9498.
• Credit cards, consumer loans, and lines of credit: Call 1-866-298-1113.
• Any other banking needs: Call 1-800-411-9393.

“Our teams have many years of experience providing financial advice and guidance in these communities, and we are here to leverage our local insights to help people and businesses recover and rebuild,” said Lee Blank, market executive for Regions Bank in Nashville and Middle Tennessee. “We are committed to meeting short-term and long-term needs, and we invite our customers to share their individual circumstances with us so we can identify specific ways to serve. Whether it is through your local branch, or by calling our Contact Centers, or through regions.com, we are here to connect you with what you need.”

Customers are also encouraged to visit Regions Bank’s online Disaster Relief Center at www.regions.com/DisasterRelief for timely information on financial recovery programs, loan assistance resources, and more.

About Regions Foundation

Regions Foundation supports community investments that positively impact the 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.

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.

¹Offers are available for a limited time and only to individuals and businesses affected by the Dec. 9 series of tornadoes in the following ZIP codes. Other ZIP codes may be added to this list based on updated storm surveys and damage reports: 37040, 37042, 37066, 37075, 37077, 37115, 42204, 42234, 42265.
Offers 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. Special loan interest rates may be determined by applicant’s credit profile and may not extend to products offered by third parties, such as Avant.
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 personal unsecured loan and new auto loan rate discounts may not be combined with other special offers or discounts. The 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 loan payments from an existing Regions checking account.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231213963310/en/

Veleka Finch

Regions Bank

(205) 264-4551



Regions News Online: regions.doingmoretoday.com

Source: Regions Financial Corporation

FAQ

What is the purpose of the tornado response plan announced by Regions Bank and the Regions Foundation (NYSE: RF)?

The purpose of the tornado response plan is to support communities impacted by tornadoes in Tennessee and Kentucky. It includes $100,000 funding from the Regions Foundation and disaster-recovery financial services from Regions Bank to help people and businesses in Middle Tennessee and Southern Kentucky.

How much funding is the Regions Foundation providing for tornado relief efforts?

The Regions Foundation is providing a total of $100,000 to be divided among tornado relief funds operated by United Way of Greater Nashville, the Community Foundation of Middle Tennessee, and the food distribution program operated by Manna Café Ministries in Clarksville.

What are the disaster-recovery financial services offered by Regions Bank for people and businesses impacted by the tornadoes?

Regions Bank is offering various financial services, including mortgage disaster relief programs, waiver of non-Regions ATM fees, no check-cashing fees for FEMA-issued checks, payment assistance for personal and business loans, credit card payment deferrals, business loan payment deferrals, penalty-free CD withdrawal, and interest rate discounts on new personal unsecured loans and auto loans.

How can customers access the disaster-recovery financial services offered by Regions Bank?

Customers can access the disaster-recovery financial services by contacting dedicated teams available for mortgages, home equity loans, and lines of credit, credit cards, consumer loans, and lines of credit, or any other banking needs. They can also visit Regions Bank’s online Disaster Relief Center for timely information on financial recovery programs and loan assistance resources.