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BBVA Compass rolls out special programs, offers for Texas flood victims

BBVA Compass announced Tuesday that it will offer payment-deferral programs for flood victims in Texas as well as a robust suite of discounted loans and lines of credit to help the families and businesses affected by Hurricane Harvey rebuild their lives.

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 58 counties declared a state of disaster by Texas Gov. Greg Abbott. For the time being, it also is waiving all ATM fees in those areas: 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.

Grasped hands in a circle

“We will be here for the people of Houston and throughout this state, which has a spirit that cannot be bowed even in times of great suffering like this,” said BBVA Compass CEO Onur Genç. “We’re all witnessing that spirit now, and our efforts today and the donations we announced yesterday are but one part of what we’ll do to honor it.”

Genç: We will be here for the people of Houston and throughout this state, which has a spirit that cannot be bowed even in times of great suffering like this

BBVA Compass, whose holding company is headquartered in Houston and which has a significant presence in the city, announced Monday 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 to the two organizations for a total contribution of up to $500,000.

Officials are still tallying the damages from the historic flooding from Hurricane Harvey, but early estimates put it well into the billions of dollars. The American Red Cross has designated it a Level 7 disaster, the highest, and its latest cost assessment to provide disaster relief and recovery operations Is more than $20 million and growing in the region.

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
  • Waived ATM fees for customers and non-customers in affected areas
  • 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.

For more stories and articles related to Hurricane Harvey, click here.

Click here to make a contribution to those affected by Hurricanes Harvey and Irma. The BBVA Compass Foundation will match donations up to $150,000.

For more information on how BBVA Compass is helping those impacted by Hurricanes Harvey and Irma, click here.