Regions Bank on Tuesday announced the company is donating $100,000 to support immediate and long-term recovery needs following Hurricane Michael.
The donation will be distributed among organizations that are working to meet a variety of needs in disaster areas. These organizations include:
- Feeding the Gulf Coast: A nonprofit that works with member organizations and special programs to distribute food to people in need, Feeding the Gulf Coast is experienced at serving communities coping with disasters. The organization has three main branches along the Central Gulf Coast and actively serves cities and towns throughout the Florida Panhandle. During this period of recovery and rebuilding, though, Feeding the Gulf Coast is operating without borders and will meet needs in as many communities as possible across the disaster area.
- Wiregrass Area Food Bank: A nonprofit hunger-relief agency based in Southeast Alabama, the Wiregrass Area Food Bank is working with additional agencies to address the nutritional needs of people across the area, including those who have come from coastal communities in the aftermath of Hurricane Michael.
- Salvation Army “ Georgia Division: In towns across Southwest Georgia, Salvation Army personnel and volunteers are on the ground working with people one-on-one to meet immediate needs. From food and water to emotional and spiritual care, the Salvation Army is making a meaningful difference for people facing a lengthy recovery.
Regions expects to identify additional initiatives to receive support in the coming days.
Across the Florida Panhandle, Southeast Alabama and Southwest Georgia, our top priority is helping customers, neighbors and associates as they recover from Hurricane Michael, said Regions President and CEO John Turner. Regions is a part of these communities, and we will be with our neighbors, our customers and our fellow community members every step of the way as we recover and rebuild.
The donations come as crews from Regions are working diligently to reopen branches and restore financial services in several areas. Most Regions locations in the Florida Panhandle are already back open, including branches in Panama City Beach and Freeport. Branches in Bonifay and Chipley, Florida, reopened this week to exceptionally strong demand from people and businesses seeking to consult with Regions professionals about a variety of financial needs.
In Southeast Alabama and Southwest Georgia, all Regions locations are back open. Also, Regions is connecting generators to additional locations in Panama City itself, as well as in Blountstown, and the bank expects to reopen these locations soon.
Additional locations in Panama City (W. 23rd St. and Harrison Ave. branches), as well as branches in Marianna, Lynn Haven and Callaway remain closed as assessments are completed and repairs begin.
As we reopen more locations, we are ready to work with people and businesses to assess their financial needs “ and develop ways we can meet those needs “ as hurricane recovery continues, said Steven Aase, Market Executive for Regions in Panama City and Florida Panhandle. We have a series of disaster-recovery financial services that can help with immediate needs, and well work with customers individually on long-term ways we can serve them as they rebuild.
The banks disaster-recovery financial services1 include:
- No check-cashing fee for FEMA-issued checks
- Regions Mortgage Disaster Relief Purchase and Renovation loan programs
- Personal and business loan payment assistance2
- One penalty-free CD withdrawal3
- 0.50% discount and waiver of $150 loan processing fee on new personal unsecured loans4
- Business loan payment deferrals available up to 90 days2
- Payment extensions for current credit card holders2
- Surcharges and foreign ATM fees waived for 30 days
- 0.50% discount on standard rates for new business loans/lines of credit up to $1 million to help with recovery needs for those in affected area5
- 0.50% discount on new unsecured business term loan up to $50,000 with up to 36 month term including waived origination/loan document fees and options for first payment to be deferred up to 90 days5
Resources for Regions Mortgage customers can also be received through the Regions Customer Assistance Program. Mortgage customers may also call Regions mortgage hotline at 1-800-986-2462. For help regarding home equity and other consumer loans, customers may call 1-866-298-1113.
A dedicated team is available at 1-800-411-9393 to help with additional questions and concerns. Further, customers are encouraged to visit the online Disaster Resource Center at regions.com.
More than 700 Regions associates live in communities affected by Michael throughout the Florida Panhandle, Southeast Alabama and Southwest Georgia. Many are working through their own personal impacts from the storm. The Regions Associate Relief Program, which is administered by a nonprofit third party, is offering financial assistance to meet a variety of recovery needs.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $125 billion in assets, is a member of the S&P 500 Index and is one of the nations 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, member FDIC, operates approximately 1,500 banking offices and 2,000 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.
1Special offers are available for a limited time and only to individuals and businesses affected by storm damage in FEMA-declared disaster areas and may be subject to other exclusions and restrictions and are subject to change without notice. All loans and lines, extensions and forbearances are subject to required documentation and credit approval. Residency restrictions may apply.
2Payment deferrals, extensions and forbearances are subject to credit approval. Interest will continue to accrue during the period that the payment is extended, skipped or deferred. For installment loans, extending, deferring or skipping payment will extend the maturity of your loan but will not automatically extend any optional insurance.
3The no-penalty offer allows customers to make one partial or complete withdrawal without penalty. The penalty-free withdrawal must be made more than seven days after the issue date or the most recent renewal date (whichever is later). Any other withdrawals will be subject to penalties.
4Applications submitted online are not eligible for the loan application fee waiver.
5New business loan rate discount 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.