NASHVILLE, Tenn.--(BUSINESS WIRE)--The Regions Foundation on Thursday announced a commitment of $150,000, including immediate grants to nonprofit organizations, in support of tornado recovery in Middle Tennessee.
Additionally, Regions Bank announced a series of disaster-recovery financial services to help people and businesses amid the recovery from the March 3 tornado.
“Regions has served the people and businesses of Middle Tennessee for many years, and we are committed to working hand-in-hand with our customers and communities throughout the recovery,” said John Turner, Regions President and CEO. “Our hope is that the grants we are announcing today, and the disaster-recovery financial services we are putting in place, will help make the recovery easier for our neighbors in need. Our team will stand with Middle Tennessee in the days, weeks and months to come as our neighborhoods and communities recover and rebuild.”
The Regions Foundation is a nonprofit initiative of Regions Bank that supports community investments. Organizations that will be supported by initial grants from the Regions Foundation include:
- Community Foundation of Middle Tennessee: Immediately after the tornado, the Community Foundation activated its Middle Tennessee Emergency Response Fund to support nonprofits working in areas that face a long and difficult recovery. The Emergency Response Fund works to “connect generosity with need” and delivers crucial financial backing that empowers the nonprofit community to meet local needs. A Regions Foundation grant of $50,000 will help fuel these efforts.
- Cookeville/Putnam County Tornado Relief Fund: Some of the hardest-hit areas are east of the Nashville Metro. In Putnam County, the Cookeville/Putnam County Tornado Relief Fund has been established to receive donations and deliver support to people within the immediate area. As part of the Regions Foundation’s initial response to the tornado, a $25,000 grant will be issued to the Relief Fund.
- Additional grants totaling $75,000 or more will be issued by the Regions Foundation to various organizations as longer-term needs are identified in the coming weeks. Altogether, grant totals from the Foundation are expected to reach $150,000 or more.
Disaster-recovery financial services1 offered by Regions Bank for a limited time in affected areas6 include:
- ATM Fees for non-Regions customers will be waived at ATMs within the affected areas for 15 days3
- Regions customers will be refunded for fees charged for the use of other banks’ ATMs for 15 days3
- Personal and business loan payment assistance2
- Business loan payment deferrals available up to 90 days2
- Payment extensions for current credit card holders2
- No check-cashing fee for FEMA-issued checks
- Regions Mortgage Disaster Relief Purchase and Renovation loan programs
- One penalty-free CD withdrawal4
- 0.50% rate discount on new personal unsecured loans5 (effective beginning March 6, 2020)
“We have seen first-hand the destruction left behind by this storm, and we understand the needs and challenges facing the people and businesses of Middle Tennessee,” said Lee Blank, Nashville Market Executive for Regions Bank. “We are focused on supporting the recovery while also serving as a financial resource. In addition to the disaster-recovery offers we are announcing today, we invite people to meet with us one-on-one at our local branches, share your needs, and allow us to offer customized insights and guidance that can help you with the financial aspects of storm recovery.”
Regions also offers an online Disaster Resource Center through Regions.com, which provides contact numbers and other helpful information to help customers with specific needs.
Hundreds of Regions associates live and work in Metro Nashville and Middle Tennessee. The Regions Associate Relief Program, which is administered by a nonprofit third party, is offering financial assistance to Regions associates impacted by the tornado.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $126 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 approximately 1,400 banking offices and 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.
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.
1Offers are available for a limited time and only to individuals and businesses affected by the March 3 Middle Tennessee tornado, may be subject to other exclusions and restrictions, and are subject to change without notice. All loans and lines, deferrals, extensions or forbearances are subject to required documentation and credit approval. Residency restrictions may apply.
2Subject to credit approval. Interest will continue to accrue during the period that the payment is skipped or deferred. For installment loans, deferring or skipping payment may extend the maturity of your loan but will not automatically extend any optional insurance. Forbearances, skipped payments, and deferrals generally (a) vary by customer, (b) postpone—rather than forgive—certain payment obligations, and (c) require payment in full of the postponed payments at the end of the forbearance or deferral period, in addition to any other amounts that come due, unless you make other arrangements with Regions to resolve the delinquency.
3Customers who use foreign ATMs may be charged an ATM service fee by the owner of the ATM.
4The no-penalty offer allows customers to make one partial or complete withdrawal without penalty. The penalty-free withdrawal must be made more than seven days after the issue date or the most recent renewal date (whichever is later). Any other withdrawals will be subject to penalties.
5Applications submitted online are not eligible for the loan rate discount. Loans opened in a Regions branch are eligible for the discount effective March 6, 2020.
6ZIP codes in Davidson, Putnam, Wilson and Carroll Counties covered by offers include: 37011, 37013, 37070 – 37072, 37076, 37087, 37088, 37090, 37115, 37116, 37121, 37122, 37136, 37138, 37184, 37189, 37201 – 37222, 37224, 37227 – 37230, 37232, 37234 – 37236, 37238, 37240 – 37244, 37246, 37250, 38201, 38220, 38235, 38258, 38317, 38318, 38321, 38324, 38342, 38344, 38348, 38387, 38390, 38501 – 38503, 38505, 38506, 38544, 38545, 38548, 38574, 38582