HOUSTON, Aug. 29, 2017 /PRNewswire/ -- 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 as 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.
"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."
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.
To learn more about BBVA Compass, visit: www.bbvacompass.com or follow @BBVACompassNews on Twitter.
About BBVA Group BBVA (NYSE: BBVA) is a customer-centric global financial services group founded in 1857. The Group is the largest financial institution in Spain and Mexico and it has leading franchises in South America and the Sunbelt Region of the United States; and it is also the leading shareholder in Garanti, Turkey's biggest bank for market capitalization. Its diversified business is focused on high-growth markets and it 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. More information about BBVA Group can be found at bbva.com.
About BBVA Compass BBVA Compass is a Sunbelt-based financial institution that operates 651 branches, including 337 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 38 in Colorado and 18 in New Mexico. 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 has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 5th nationally in the total number of SBA loans originated in fiscal year 2016. Additional information about BBVA Compass can be found at www.bbvacompass.com. For more BBVA Compass news, follow @BBVACompassNews on Twitter or visit newsroom.bbvacompass.com.
Compass Bank, member FDIC, and an Equal Housing Lender