HomeMediaMedia ReleasesMedia Release 2013

Banks offer support to customers affected by fires

Sydney, 9 January 2013: The Australian Bankers’ Association (ABA) today advised that banks are offering a range of emergency relief packages to assist people affected by the bushfires in Tasmania, New South Wales, the ACT, Victoria and other parts of Australia.

Individual banks have announced assistance packages to help families, business people, farmers and individuals in the communities affected by bushfires.

Steven Münchenberg, Chief Executive of the ABA, said: “Banks understand this is a difficult and stressful time for those households and businesses affected by the fires. It’s not a time when people want to be worrying about their finances.”

“The banks’ emergency packages provide practical help by giving immediate financial relief to those in most need of assistance. If someone’s home, income or business has been affected by the fires, they should contact their bank as soon as they are able to. Their bank can provide support to help households and businesses get back on their feet.”

Banks offer a range of support options. The assistance provided to any customer will depend on their individual circumstances and needs, but may include:

• deferring home loan repayments;
• restructuring business loans without incurring fees;
• giving credit card holders an emergency credit limit increase;
• providing payment holidays on credit cards;
• refinancing personal loans at a discounted fixed rate;
• waiving interest rate penalties if term deposits are drawn early; and
• deferring repayments on equipment finance facilities.

Mr Münchenberg said: “If you are worried about the financial effect of the fires, talk to your bank about the support that is available. If you know someone affected, let them know that banks are offering emergency packages.”

The best way to contact your bank is to speak to your relationship manager or call the bank’s dedicated support number. These numbers can be found on the ABA website www.bankers.asn.au or at www.doingittough.info along with additional information to assist people that might be experiencing financial difficulty. You can also speak to a free, independent financial counsellor by calling 1800 007 007.

If you have been affected by the fires and need to talk to your bank, please call the appropriate number below:

Donations

Donations to assist people affected by the bushfires can be made at most bank branches or directly to the Red Cross via www.redcross.org.au or by calling 1800 811 700.

For further information: 

Iain McDonald, P&L Corporate Communications

Phone: 02 9231 5411

Mobile: 0488 390 151 

@austbanker

ENDS