Plus, local United Way announces initial $100K commitment
Regions Financial Corporation will be accepting donations for American Red Cross Hurricane Katrina relief efforts at Regions Bank branches across the company’s 16-state footprint in the South, Midwest and Texas.
In addition, Regions has waived ATM and check-cashing fees for residents and customers in the affected area, and Regions Bank customers in those areas can defer some loan and credit card payments, increase credit limits on credit cards and get special discounts and introductory rates on new equity loans and lines of credit.
“Our first concern is for the physical well-being of our associates and their families and the innumerable others who have been impacted by Hurricane Katrina,” said Regions President and CEO Jackson W. Moore.
“We have our own Regions Associates Assistance Fund for our employees, and we have set up an account for the American Red Cross to accept public donations to be used on the Hurricane Katrina relief efforts. Our thoughts and prayers are with all of those who are suffering during this tragic natural disaster.”
At the height of Hurricane Katrina, Regions closed some 150 branches in Florida, Alabama, Mississippi and Louisiana. The company has steadily opened those branches as the week has continued, and at this juncture is projecting that just some 50 or so branches in the Greater New Orleans and Mississippi Gulf Coast areas will remain closed for extended periods of time.
“In terms of our facilities, it may be next week before we are able to do on-site assessments of the damage, as downed communications and closed roads have made getting information and people into and out of the storm areas impossible,” Moore said.
“Where we are able – for example, in Hattiesburg, Miss. – we have emergency supplies of water and ice on the way to our associates. People are the most important consideration we have right now.”
The special services for customers in the emergency relief areas include: deferred payment on some consumer and business installment loans, discount rates on new direct consumer installment loans, four-month introductory rate of 3.9 percent on Equity Asset Lines and no closing costs, fees waived for retail customers on domestic wire transfers, existing credit card line increases, emergency replacement cards and payment deferment.
Customers who have questions are encouraged to call (800) REGIONS or its Loans-By-Phone line at (800) 588-1267.
United Way responds to Katrina
Last week the United Way of Greater St. Louis announced an initial, immediate commitment of $100,000 directed to United Ways’ relief efforts to help the thousands of people affected by Hurricane Katrina in the Gulf Coast region.
The United Way’s Executive Committee voted to release funds from its reserves.
“This is truly a disaster and tragedy of immense proportions,” said Charles W. Mueller, United Way board chair and retired chairman and chief executive officer of Ameren. “This region is a generous and caring community, and I know the citizens of our area want us to act on behalf of those in need.”
In addition to the relief fund, the local United Way will provide an avenue for individuals and companies who want to help. One hundred percent of all funds received will be forwarded to United Ways working on relief efforts.
“Our United Way can do this. We can sustain 200 agencies that help a million people here at home each year and help those in the South affected by this terrible disaster,” said David L. Steward, general chair of the 2005 United Way campaign. Steward is founder and chairman of World Wide Technology.
Individuals wishing to make contributions should send checks payable to: Katrina Relief Fund, mailed to the United Way of Greater St. Louis, 910 N. Eleventh Street, St. Louis, Missouri, 63101.
