As NSW communities grabble amidst record floods, customer-owned banks are ready to provide support.
“We understand this is an incredibly stressful time, but customer-owned banks stand with their customers and communities, ready to assist where needed,” Customer Owned Banking Association (COBA) CEO Michael Lawrence said.
“If you’re experiencing financial hardship, please reach out to your mutual bank or credit union as soon as it is safe to do so. Customer-owned banks offer a range of support options to help members through this difficult period,” he added.
If you’re experiencing financial hardship, please reach out to your customer-owned bank as soon as it is safe to do so.
Some ways customer-owned banks may be able to help include:
- Loan repayment relief: options to defer or restructure loan repayments
- Fee waivers: assistance with transaction fees and replacement cards
- Emergency access to funds or disaster relief packages: early access to term deposits or priority short-term financial support
- Insurance claims support: guidance on the claims process
Due to the severe weather, many customer-owned bank branches in flood-impacted areas may be closed for the safety of both customers and staff.
In those instances, customers are encouraged to use mobile and telephone banking, and to visit their customer-owned bank’s website for updates.
Help and resources available
- For a list of customer-owned banks, head here.
- If you are in immediate danger, please contact 000.
- For non-life threatening flood and storm assistance, contact SES on 132 500
- For free financial counselling support, visit ndh.org.au for free step-by-step guides and online chat or call the National Debt Helpline on 1800 007 007
- Support and financial assistance from the Government
- NSW Government disaster support
- Disaster Assist