Community News

Financial relief available following east coast weather event

Communities impacted by the extreme weather along the country’s east coast can get help from their bank, the Australian Bankers’ Association said last week. “There are a range of assistance packages offered by banks to support customers during their time of need,” ABA Chief Executive Steven Münchenberg said. “Banks want to help people with their financial commitments as they deal with the impact of the floods and storms. “Affected communities and businesses should contact their bank to see what help is available,” he said. The type of assistance offered by banks will depend on each customer’s circumstances and needs, but may include: • Suspending home loan or credit card repayments • Waiving charges associated with withdrawing term deposits early • Emergency accommodation assistance, and • Waiving fees related to restructuring business loans. The contact details for banks’ financial hardship teams are available on the ABA website.