Banks encourage impacted customers to reach out
Cairns has experienced its worst case of flooding in over a century after category two system Cyclone Jasper brought severe rain and heavy winds. The region’s mayors have called for military intervention, an ABC report said, as emergency services are becoming exhausted and overwhelmed having limited access to outlying areas.
Cyclone Jasper - the support available
In reaction, banks have released statements offering assistance for residents impacted by the cyclone.
Westpac said small business customers can apply for a $3,000 grant to help with urgent expenses and repairs. The bank also offers support for impacted customers through a disaster relief package, including loan deferrals of up to three months and emergency credit card relief. Jason Yetton (pictured left), consumer chief executive at Westpac, said the grant is also available for agribusiness customers with farms, livestock, and crops impacted by the flooding.
“It’s been devastating to see the ongoing impacts of Cyclone Jasper in Far North Queensland, and we know that this is an extremely stressful time for the communities impacted with homes, property and livestock lost,” said Yetton.
“While the immediate focus is on the emergency response, our teams are standing by and ready to support our consumer and business customers who need a helping hand over the coming days and weeks.”
ANZ has also announced it is offering customers a relief package, which aims to help those impacted to begin their recovery soon. Among the financial support being offered includes short-term payment relief on home loans, credit cards, personal loans and some business loans; waiving fees for restructuring business loans; and waiving fees for accessing term deposits early.
“We understand the challenges many local businesses and households may be facing at this difficult time, and are here to support our customers with immediate financial help,” said Jackie Auf de Maur, general manager for QLD at ANZ.
“When they are ready, I encourage our customers to connect with us if they need assistance. We have specialist staff available to discuss support measures including short-term payment relief on a range of products, such as home loans and some business loans.”
NAB has also launched relief measures for customers impacted by Cyclone Jasper. It offers relief grants of up to $1,000 as well as loan deferrals, reduced repayment arrangements, and other hardship options. Chris Francis, executive retail for QLD at NAB, encouraged customers and colleagues to reach out so the bank can offer assistance. NAB colleagues can access temporary accommodation and everyday essentials.
“We know it is vital for us to be there for our customers and colleagues right now, but we also know we have a role to play in the long-term recovery as well. NAB customers impacted by Tropical Cyclone Jasper are encouraged to contact us as soon as possible,” said Francis.
Commonwealth Bank, meanwhile, offers its own emergency assistance.
“We’re here to support our Queensland customers and employees through Tropical Cyclone Jasper and the flood-affected communities. We have a range of tailored support options available, and our website has the most up-to-date branch and service information,” said Angus Sullivan (pictured right), retail banking services group executive at the Commonwealth Bank.
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