Company Announcements

Foundation grants to support community recovery in Alabama; bank services and volunteerism organized to help people impacted by recent storms.

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Jan. 19, 2023-- Regions Bank and the Regions Foundation on Thursday announced a comprehensive tornado relief plan aimed at supporting communities that were impacted by a series of tornadoes on Jan. 12.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230119005059/en/

The Regions Foundation is a nonprofit initiative funded primarily by Regions Bank.

The plan is based on three key elements:

1. Regions Foundation grants supporting storm relief in Dallas and Autauga counties in Alabama
2. Volunteerism from Regions Bank associates
3. Disaster-recovery financial services offered by Regions Bank in Alabama and Georgia

Regions Foundation Grants:

The Regions Foundation is a nonprofit initiative funded primarily by Regions Bank. The foundation’s services include supporting disaster recovery in ways that meet short- and long-term needs. The foundation will provide a series of grants totaling at least $75,000 for organizations coordinating disaster relief in Selma and Dallas County, Alabama, as well as impacted communities in nearby Autauga County.

From the initial $75,000 total, grants will be divided among:

• Edmundite Missions: For over 85 years, Selma-based Edmundite Missions has served the Deep South by providing food, clothing, and shelter for people in need. Immediately after the storms passed on Jan. 12, the Edmundite team was on the ground serving people around Selma. The Regions Foundation is supporting this ongoing work through a grant of $50,000 from the $75,000 total.
• Central Alabama Community Foundation: Shortly after Selma was impacted, a separate tornado tore through Autauga County. Damage was widespread and was particularly severe in the Old Kingston area and communities to the northeast. The Central Alabama Community Foundation is serving people and families who are facing a lengthy recovery. The Regions Foundation is supporting this work through a grant of $25,000 to CACF from the $75,000 total.
• Long-Term Needs: In addition to the initial $75,000 total, the Regions Foundation is prepared to allocate up to $25,000 in further grant funding to help community partners meet longer-term storm-recovery needs that emerge in the coming weeks and months.

“Over the last several days, we have seen a tremendous spirit of determination and unity as neighbors help neighbors and lean on each other during a very difficult time. The Regions Foundation is committed to providing financial resources that will support the recovery today, tomorrow and into the future,” said Marta Self, executive director of the Regions Foundation. “This is an extension of our long-term work to serve Selma, Central Alabama, and surrounding areas, and we will look for meaningful ways to build on this work as recovery moves forward.”

Volunteerism from Regions Bank Associates:

Regions Bank has served the impacted areas for generations. That service goes beyond day-to-day banking. It includes deep community involvement, such as volunteerism from bank associates.

“In recent days, Regions provided cases of water, chips, cookies and other nonperishable food items to sheltering organizations in Selma and impacted residents in the Orrville community. Our teams are actively seeking additional volunteer opportunities so we can further support recovery in the coming weeks,” said Robert Birmingham, Montgomery and Central Alabama market executive for Regions Bank. “We are committed to uplifting the places where we live and work, and volunteerism is one key way Regions Bank works to fulfill its mission to make life better for the people and places we serve.”

Disaster-Recovery Financial Services from Regions Bank:

Beyond volunteer support, Regions Bank has designed financial services to help people and businesses impacted by the storms. Options available for a limited time in portions of Alabama, as well as impacted communities to the east in Georgia,¹ include:

• Beginning Jan. 19, Regions fees will be waived for at least seven days when customers use other banks’ ATMs in the impacted areas. (Note: Fees charged by other banks or ATM owners may still apply.)
• Regions Mortgage Disaster Relief Purchase and Renovation loan programs are available.
• No check-cashing fees will be charged for FEMA-issued checks when cashed in a Regions branch.²
• Personal and business loan payment assistance is available.³
• Payment deferrals are available for current credit card holders.³
• Business loan payment deferrals of up to 90 days are available.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 April 19 on new personal unsecured loans when customers in impacted areas apply in a branch or by phone.⁴
• An interest rate discount of up to 0.50% is available through April 19 on auto loans when customers in impacted areas apply in a branch or by phone.⁵

Regions Bank also has dedicated teams available to help customers with questions or needs related to the following services:

• Mortgages, home equity loans, and lines of credit: Call 1-800-748-9498.
• Credit cards, consumer loans, and lines of credit: Call 1-866-298-1113.
• Any other banking needs: Call 1-800-411-9393.

“Our teams have many years of experience providing financial advice and guidance to help people recover and rebuild following a natural disaster,” said John Anderson, Consumer Banking executive for Regions Bank. “At the branch around the corner, by calling our Contact Centers, or through regions.com, we are here to connect consumers and businesses with what they need to move forward.”

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 $158 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 1,300 banking offices and more than 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.

¹Offers are available for a limited time and only to individuals and businesses affected by the Jan. 12 series of tornadoes in the following ZIP codes: 30014, 30055, 30205, 30206, 30212, 30217, 30218, 30222, 30223, 30224, 30230, 30233, 30234, 30240, 30241, 30248, 30276, 30292, 31064, 35010, 35042, 35136, 35441, 35448, 35456, 35459, 35460, 35462, 35464, 35469, 35474, 35553, 35565, 36003, 36006, 36022, 36026, 36051, 36067, 36080, 36521, 36522, 36560, 36701, 36702, 36703, 36744, 36749, 36756, 36759, 36767, 36850, 36853, 36855, 36861, 36862

Offers may be subject to other exclusions and restrictions and are subject to change without notice. All loans and lines, deferrals, extensions, or forbearances may be subject to required documentation and credit approval. Residency restrictions may apply. Special loan interest rates may be determined by applicant’s credit profile and may not extend to products offered by third parties, such as Avant.

²The FEMA no-check-cashing fee offer is available only to Regions customers; if you are not a Regions customer, you must enroll in Now Banking. No checking account is required to enroll in Now Banking. Regions reserves the right to refuse to cash any check.

³May be subject 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 (a) may vary by customer, (b) postpone – rather than forgive – certain payment obligations and (c) may 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.

⁴New personal unsecured loan rate discounts may not be combined with other special offers or discounts.

⁵Auto loan rate discount of up to 0.50% includes 0.25% disaster relief rate discount with an additional 0.25% rate discount when you enroll in auto debit payments from an existing Regions checking account. Auto loan rate discounts cannot be combined with other special offers or discounts.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005059/en/

Jennifer Elmore
Regions Bank
(334) 240-1220

Regions News Online: regions.doingmoretoday.com
Regions News on Twitter: @RegionsNews

Source: Regions Bank