Regions Bank & the Regions Foundation launch Hurricane Ida response
NEW ORLEANS – Regions Bank on Wednesday announced a series of financial services to help people and businesses impacted by Hurricane Ida. In addition, the Regions Foundation, a nonprofit initiative funded primarily by Regions Bank, announced a commitment of $250,000 in grant funding for organizations providing disaster relief.
Marta Self, executive director of the Regions Foundation, said the $250,000 total will be divided among several agencies meeting short- and long-term needs. Initial grants from the $250,000 total will include:
- $50,000 for the Louisiana Region of the American Red Cross, which is working with community partners to provide shelter and comfort for people in need;
- $50,000 for the Salvation Army’s Alabama-Louisiana-Mississippi division, which is managing large-scale relief work in several areas hit hard by Ida;
- $25,000 for United Way of Southeast Louisiana in New Orleans, which is administering a dedicated Hurricane Ida Relief Fund;
- and $25,000 for the Houma-based United Way of South Louisiana, which serves Assumption, Lafourche, St. Mary and Terrebonne parishes.
- Remaining funding from the $250,000 total will be allocated to organizations based on longer-term needs that emerge in the coming months.
“Nonprofits and relief organizations are doing incredible work addressing urgent needs, and through these grants, our focus at the Regions Foundation is to provide resources that will support their real-time response to the storm,” Self said. “Additional needs will develop as our communities rebuild stronger, and the Regions Foundation will be there to support ongoing work well into the future. We also encourage people and businesses who are in a position to donate to consider how they, too, can support nonprofits that are on the front lines of helping people impacted by Hurricane Ida.”
Special Bank Services:
Regions Bank is currently assessing impacts to its branch network in areas affected by the storm. While the reopening timeframe for individual branches in the most severely impacted areas will evolve in the coming days, banking services remain available around the clock through Regions.com and the Regions Mobile App. Services are also available by calling 1-800-REGIONS or specific departments within the bank as listed below.
Steve Nivet, Consumer Banking regional executive for Regions Bank, said the company worked quickly to develop customized disaster-recovery services for consumers and businesses alike. In addition, one of the most valuable ways the bank will make a difference, he said, is by listening to customers’ unique needs.
“Regions Bank will stand with our customers and communities as we recover from Ida together,” Nivet added. “These are the communities where our teams live and work. In addition to their local experience, they are backed by the strength of our entire organization. For many years, we have helped people and businesses recover following natural disasters, and we are ready to serve with compassion and understanding.”
The disaster-recovery financial services offered by Regions Bank in impacted areas1 are available for a limited time starting Sept. 1, 2021. Areas covered by these services may be expanded to include additional communities based on ongoing damage assessments. Among services:
- Regions Mortgage Disaster Relief Purchase and Renovation loan programs are available.
- Regions fees will be waived when Regions customers use other banks’ ATMs in the impacted areas for at least 15 days beginning Sept. 1. (Note: Fees charged by other banks or ATM owners may still apply.)
- No check-cashing fees will be charged for FEMA-issued checks when cashed in a Regions branch.2
- Payment deferrals for credit card holders may be available based on individual circumstances.3
- Personal and business loan payment assistance may be available based on individual circumstances.3
- Business loan payment deferrals of up to 90 days may be available based on individual circumstances.3
- One penalty-free CD withdrawal is available upon request (unless within seven days of issuance or renewal).
- An interest rate discount of 0.50% is available through Nov. 30, 2021, on new personal unsecured loans when customers apply in a branch or by phone.4
- An interest rate discount of 0.50% on standard rates is available through Nov. 30, 2021, for new business loans or lines of credit of up to $1 million to help with recovery needs in impacted areas.4
- An interest rate discount of 0.50% is available through Nov. 30, 2021, 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 days.4
- Check www.regions.com/HurricaneIda for an updated list of areas where these offers are available as damage assessments continue.
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
“Throughout our organization, we are focused on one clear goal: to be there for the people and communities we serve,” said Graham Ralston, New Orleans market executive for Regions Bank. “This is our home. These are our neighbors. These are the businesses we rely on. And our teams at Regions Bank stand ready to provide insights and guidance every step of the way.”
Regions Bank’s support for business clients covers companies of various sizes. From small, locally owned companies to major employers, Regions teams are focused on helping clients during all aspects of recovery.
“As part of our work with small businesses, middle-market companies and large corporate clients, our teams are proactively reaching out to learn how individual businesses fared during the storm – and to collaborate on any services we can provide moving forward,” added Brian Willman, head of Commercial Banking for Regions Bank. “We are here to assist, and we encourage anyone needing customized financial services to let us know how we can help you and your company make it through this time.”
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.
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