The Banque des Régions and the Fondation des Régions announce tornado recovery initiatives |
Regions Bank announced a series of financial services to help people and businesses affected by the tornadoes that ravaged much of the South and Midwest on the night of December 10 and the early morning of December 11.
In addition, the Foundation of the Regions announced a commitment of $ 100,000 in grants to organizations providing disaster relief and long-term recovery support, according to a press release. The Fondation des RÃ©gions is a non-profit initiative mainly financed by the Banque des RÃ©gions.
The Foundation of the Regions’ disaster relief commitment of $ 100,000 will be distributed among various agencies responding to short and long term needs. Initial grants out of the total of $ 100,000 will include:
â¢ $ 35,000 for the Mayfield Graves County Tornado Relief Fund: the fund is managed by the Mayfield Graves County Chamber of Commerce in conjunction with Graves County Economic Development. The fund will be used to meet the various needs of those affected by the historic storm that devastated Mayfield and other parts of western Kentucky.
â¢ $ 50,000 to the American Red Cross: This funding will be used to support those affected by tornadoes in an area comprising several states, including northeastern Arkansas, central and western Tennessee, and St. Louis Metro East area in Illinois.
â¢ The remaining $ 15,000 of the total of $ 100,000 will be allocated to organizations based on longer term needs that emerge in the weeks or months to come.
“One of the best ways to make an impact is to support the agencies that know these communities best and are ready to provide vital support,” said Marta Self, executive director of the Regions Foundation, in the press release. . âWe value the work of every relief agency, every first responder and every member of the community who strives to make a difference, and we encourage other people, organizations and businesses to consider ways, too, to support the important relief work that is underway.
In addition to grants from the Regions Foundation, associates who work in the Regions Bank offices in the Mid-South collect supplies to help those in need. Supplies will be delivered in a coordinated fashion to affected communities in the coming days.
Special banking services
In addition, Regions Bank offers a series of disaster recovery financial services for individuals and businesses in parts of Kentucky, Illinois, Tennessee, Arkansas and Missouri that have been affected by recent storms and tornadoes. 1 Services will be available for a limited time starting December 16. Services include the following options for qualified customers:
â¢ Loan programs for the purchase and renovation of disaster relief mortgages in the regions will be available.
â¢ Regional fees will be waived when Regions Bank customers use ATMs of other banks in affected areas for at least 15 days from December 16. (Note: Fees charged by other banks or ATM owners may still apply.)
â¢ No check cashing fees will be charged for checks issued by FEMA when cashed at a regional branch.
â¢ Payment deferrals for current regional credit card holders may be available depending on individual circumstances.
â¢ Personal and business loan repayment assistance may be available depending on individual circumstances.
â¢ Business loan payment deferrals of up to 90 days may be available depending on individual circumstances.
â¢ CD withdrawal without penalty is available upon request (except within seven days of issuance or renewal).
â¢ An interest rate reduction of 0.50% is available until March 16, 2022 on new unsecured personal loans when clients apply at a branch or by phone.
â¢ An interest rate discount of 0.50% on standard rates is available until March 16, 2022, for new business loans or lines of credit up to $ 1 million to meet the needs of recovery in affected areas.
â¢ An interest rate discount of 0.50% is available until March 16, 2022 on new unsecured commercial term loans up to $ 50,000 with a maximum term of 36 months, including waiver of set-up fees and loan documents, as well as options for the first payments to be deferred for up to 90 days.
Regions Bank teams can be contacted at the following numbers for personalized advice on a range of banking needs, including:
â¢ Mortgages, Home Equity Loans and Margins: 800-748-9498
â¢ Other consumer credits: 866-298-1113
â¢ Any other banking need: 800-411-9393