Disaster Relief. Community Support. Regions Bank and the Regions Foundation Announce Tornado Recovery Initiatives
Bank and foundation stand in support of people, businesses and communities impacted by December tornado outbreak.
By Kim Borges | December 15, 2021
MAYFIELD, Ky., December 15, 2021 /3BL Media/ – Regions Bank on Wednesday announced a series of financial services to help people and businesses impacted by tornadoes that tore through much of the South and Midwest on the night of Dec. 10 and early morning of Dec. 11.
In addition, the Regions Foundation announced a commitment of $100,000 in grant funding for organizations providing disaster relief and long-term recovery support. The Regions Foundation is a nonprofit initiative funded primarily by Regions Bank.
The $100,000 disaster relief commitment from the Regions Foundation will be divided among various agencies meeting short-term and long-term needs. Initial grants from the $100,000 total will include:
- $35,000 for the Mayfield Graves County Tornado Relief Fund: The fund is managed by the Mayfield Graves County Chamber of Commerce in collaboration with Graves County Economic Development. The fund will be used to meet a variety of needs for those impacted by the historic storm that devastated Mayfield and other portions of Western Kentucky late on the night of Dec. 10.
- $50,000 to the American Red Cross: This funding will be used to support people impacted by the tornadoes across a multi-state area including Northeast Arkansas, Middle and Western Tennessee and the St. Louis Metro East area in Illinois.
- The remaining $15,000 from the $100,000 total will be allocated to organizations based on longer-term needs that emerge in the coming weeks or months.
“One of the greatest ways we can make an impact is by supporting the agencies that know these communities best and are ready to deliver vital support,” said Marta Self, executive director of the Regions Foundation. “We appreciate the work of every relief agency, every first responder, and every community member who is working to make a difference, and we encourage other people, organizations, and businesses to consider ways they, too, can support the important relief work that’s underway.”
In addition to the grants from the Regions Foundation, associates who work at Regions Bank locations across the Mid-South are collecting supplies to help those in need. The supplies will be delivered in a coordinated manner to impacted communities in the coming days.
"We appreciate the work of every relief agency, every first responder, and every community member who is working to make a difference." Marta Self, executive director of the Regions Foundation
Special Bank Services:
Separately, Regions Bank is offering a series of disaster-recovery financial services for people and businesses in portions of Kentucky, Illinois, Tennessee, Arkansas, and Missouri that were impacted by the recent severe storms and tornadoes.1 The services will be available for a limited time effective Thursday, Dec. 16, 2021. Services include the following options for qualified customers:
- Regions Mortgage Disaster Relief Purchase and Renovation loan programs will be available.
- Regions fees will be waived when Regions Bank customers use other banks’ ATMs in the impacted areas for at least 15 days beginning Dec. 16, 2021. (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 current Regions 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 March 16, 2022, 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 March 16, 2022, 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 March 16, 2022, 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
In addition to special disaster-recovery financial services, Regions teams throughout impacted communities stand ready to listen to customers’ unique needs and deliver customized financial solutions designed to help people and businesses impacted by the storms.
“These are the communities where our teams live and work. These are the people and businesses we serve every day, and we will be here for them every step of the way,” said Sharon Hightower, Consumer Banking regional executive for Regions Bank. “In addition to their local experience, our teams are backed by the strength of our entire organization at Regions Bank. We are all united in our commitment to supporting the recovery.”
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 banking needs, 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
Regions Bank Branch Network:
The vast majority of Regions Bank’s branch locations across the impacted areas suffered no major damage and remain open as usual. Regions’ Mayfield Plaza branch, which was not damaged by the storm, is currently operating under generator power.
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.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $156 billion in assets, is a member of the S&P 500 Index and is one of the nation’s 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, operates more than 1,300 banking offices and approximately 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.