BBVA Compass offers special products for flood victims, bank's foundation donates $100,000

- BBVA Compass Foundation donation designed to help recovery efforts

- BBVA Compass also offering limited-time offers to consumer and small business clients

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Jun 01, 2015, 08:02 ET

HOUSTON, June 1, 2015 /PRNewswire/ -- The BBVA Compass Foundation today announced a $50,000 donation to the American Red Cross' Central Texas Region, a $50,000 donation to the Texas Gulf Coast Region, and special product offers from BBVA Compass to help aid recovery efforts after heavy rainfall, thunderstorms, tornadoes and severe flooding forced evacuations and left thousands of Texans without electrical power across the state.

BBVA Compass corporate logo

"As our communities begin to rebuild their homes and property after the severe weather that has affected thousands of Texans across the state, we hope that these donations and special products will help ease some of the financial strain and hardships that some of our employees and customers are experiencing," said BBVA Compass Houston CEO Mark Montgomery.

The BBVA Compass Foundation's donation to the American Red Cross will help support overall response and relief efforts, including shelters' operating costs, meals, social services, financial assistance for affected families, neighborhood cleanups, and ongoing counseling and casework efforts to determine how many residents have lost their homes. More than 4,000 homes have been damaged by the severe storms in the Central Texas and Texas Gulf Coast regions, according to the latest assessment from the American Red Cross. The latest cost assessment for the American Red Cross to provide its disaster relief and recovery operations is more than $5 million statewide.

BBVA Compass is also making limited-time offers available to consumer and small business clients, among them special loan and payment deferral programs, waived late fees and penalty-free CD withdrawals. The offers are available in designated counties, including Collin, Comal, Denton, Harris, Harrison, Hays, Hidalgo, Hood, Jasper, Johnson, Kendall, Nueces, Parker, Smith, Walker and Williamson.

Components of the disaster-relief program, available in the affected areas, include:

Special rates and terms on consumer and small business loans
Discounted rates on auto loans
Discounted rates on home equity, construction and renovation loans and lines of credit
Deferred payments on existing consumer and small business loans and credit cards
Waived late fees
Penalty-free CD withdrawals

For more information on these offers, those affected should contact their local BBVA Compass branch.

Applications for the limited-time offers may be submitted through July 31. All loans and lines of credit are subject to approval, including credit approval.

About BBVA Group

BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, is the largest financial institution in Mexico and has leading franchises in South America and the Sunbelt region of the United States. Its diversified business is geared toward high-growth markets and relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes. More information about the BBVA Group can be found at www.bbva.com.

About BBVA Compass

BBVA Compass is a Sunbelt-based financial institution that operates 672 branches, including 341 in Texas, 89 in Alabama, 77 in Arizona, 62 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico, and commercial and private client offices throughout the U.S. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass earned the top ranking with customers in American Banker's 2014 annual reputation survey of the top 25 largest U.S. retail banks. It also has been recognized as one of the leading small business lenders by the Small Business Administration, and its mobile app recently earned the Mobile Banking Leader in Functionality Award for the second consecutive year from Javelin Strategy & Research. Additional information about BBVA Compass can be found at www.bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com.