BBVA Compass announced Tuesday that it will offer payment-deferral programs for victims of Hurricane Irma in Florida as well as a robust suite of discounted loans and lines of credit to help the families and businesses affected by the powerful storm.
BBVA Compass is making the limited-time offers — among them special loan and payment deferral programs, waived late fees and penalty-free CD withdrawals — available to consumer and small business clients in the 67 counties declared in a state of emergency by Florida Gov. Rick Scott. For the time being, the bank also is waiving all ATM fees in Northeast and Central Florida: Its own customers will pay no fees to BBVA Compass if they use non-BBVA Compass ATMs, and non-customers will be able to use BBVA Compass ATMs at no charge from BBVA Compass.
This is the second time in as many weeks that BBVA Compass, whose holding company is headquartered in Houston and which has a significant presence in the city, has announced it was mobilizing resources in the face of a natural disaster along the Gulf Coast.
Genç: The extent of the damages from Irma may not come into full view for several weeks, but we already know we need to mobilize on behalf of the people of Florida.
“The extent of the damages from Irma may not come into full view for several weeks, but we already know we need to mobilize on behalf of the people of Florida,” said BBVA Compass CEO Onur Genç. “We want them to know we’re going to be there for the long haul, whenever and wherever they need us.”
Soon after Harvey left a trail of devastation and flooding in Texas, the bank announced that its foundation will donate $250,000 to the American Red Cross and the Hurricane Harvey Relief Fund to aid disaster recovery efforts in Texas. The bank said it also planned to raise, online and at its branches, up to $250,000 in employee and customer contributions, which it later said it would match, for a total contribution of up to $750,000. The funds earmarked for American Red Cross will now be used to assist the victims of Hurricane Irma as well.
The special offers
Details on the numerous special programs are available at the bank’s branches or by calling (800) 266-7277. The offers include:
- Deferred payments on existing consumer and small business loans and credit cards
- Waived late fees
- Discounted rates on home equity loans and lines of credit
- Discounted rates on construction and renovation loans
- Discounted rates on auto loans
- Penalty-free CD withdrawals, for withdrawals made after the first seven days of account origination
- Special rates and terms on consumer and small business loans
Applications for the limited-time offers may be submitted through Dec. 31, 2017, unless otherwise stated. All loans and lines of credit are subject to approval, including credit approval.