Regions Bank, issuing grants, tweaks financial services for storm victims
Mar. 30—Regions Bank and the Regions Foundation on Thursday announced steps to support people, businesses and nonprofits following severe storms and destructive tornadoes that impacted Southern states.
The storm response is based on two key elements:
—Grants from the Regions Foundation to support disaster-relief agencies
—Disaster-recovery financial services from Regions Bank to support consumers and businesses
"Over the last several days, Regions teams have been calling on people and businesses we've served for years. We're listening to ways we can help, and we're sharing financial insights as well as our sincere concern and support for all communities that have been impacted," said Robert Leard, Mississippi Commercial Banking leader and Metro Jackson market executive for Regions Bank. "Our teams here in Mississippi join with fellow Regions Bank teams in Alabama, Georgia, and Southern Middle Tennessee — as well as our colleagues at the Regions Foundation — in standing with our customers and communities. We'll get through this difficult time together."
The Regions Foundation is an Alabama-based nonprofit initiative that is funded primarily by Regions Bank. In addition to long-range community development funding, the Regions Foundation provides disaster-relief grants when areas are impacted by natural disasters.
This week, the Regions Foundation approved a total of $60,000 in grant funding to help various communities affected by recent tornadoes. The grants will include $50,000 to the American Red Cross and $10,000 to the Mississippi Food Network
Separately, Regions Bank designed financial services to help consumers and businesses. Options available for a limited time in specific portions of Mississippi, Alabama, Georgia and Tennessee include:
—Regions Mortgage Disaster Relief Purchase and Renovation loan programs.
—Regions fees will be waived when customers use other banks' ATMs in the impacted areas for at least seven days beginning March 30, 2023 (fees charged by other banks or ATM owners may still apply).
—No check-cashing fee for FEMA-issued checks when cashed in a Regions branch.
—Personal and business loan payment assistance.
—Payment deferrals for current credit card holders.
—Business loan payment deferrals of up to 90 days.
—One penalty-free CD withdrawal upon request (unless within seven days of issuance or renewal).
—An interest rate discount of 0.50% on new personal unsecured loans when customers apply in a branch or by phone.
—An interest rate discount of up to 0.50% on auto loans when customers apply in-branch or by phone.
In addition to mobile and online banking services and Regions' local branch networks, the bank has dedicated teams available to help customers with 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.
