OneMain Financial Announces Measures to Support Customers and Communities Struggling with Economic Fallout from COVID-19

Provides Payment Relief Options to Customers

Donates $1 Million to Support Frontline Health Care Professionals and Community Food Banks

EVANSVILLE, Ind.--(BUSINESS WIRE)--OneMain Financial, the country’s largest installment lender to hardworking Americans with nonprime credit, today announced a number of measures to support its customers and communities suffering from the effects of the COVID-19 pandemic. These measures include payment relief options to borrowers, donating $1 million to organizations supporting health care providers and food banks, and providing free K-12 educational tools for families whose children are home while schools are closed.

“We have all been dramatically affected by this crisis,” said OneMain President and CEO Doug Shulman. “Many of our customers and the communities we serve have been severely hurt by the coronavirus and its economic fallout. We are committed to helping them get through this difficult period.”

Among the measures announced by the company:

• Offering reduced and deferred payment options for customers negatively impacted by COVID-19.
• Waiving late fees for payments due March 15 through April 30.
• Suspending credit bureau reporting for newly delinquent accounts in March and April.
• Contributing $500,000 each to the CDC Foundation Emergency Response Fund, which supports needs identified by the CDC in responding to the public health threat posed by the coronavirus; and, the FeedingAmerica COVID-19 Respond Fund, which supports food banks across the country.
• Providing free interactive education starting next week on the OneMain website for K-12 students. These free courses help kids get a head start on building financial knowledge while schools are closed through a range of content from budgeting and saving to entrepreneurship and business skills.

About OneMain Financial

OneMain Financial (NYSE: OMF) has been offering responsible and transparent loans for over 100 years. With over 1,500 locations throughout 44 states, the company is committed to helping people with their personal loan needs. OneMain and its 9,700 team members are dedicated to the communities where they live and work. For additional information, please visit OneMainFinancial.com.