News

ME Bank to reduce financial burden for flood-affected members

• Payment relief programme available to support customers in flood-affected areas
• Support to include waiving of fees and suspension of repayments for customers
• Me Bank to donate $20,000 in support of the Queensland Flood Relief Appeal

In an effort to support ME Bank customers - and all Australians - affected by the disastrous floods in Queensland and New South Wales, the Bank today announced it support of the Queensland Flood Relief Appeal with a donation of $20,000, and will consider further aid as required.

ME Bank is also applying its Customer Hardship Policy in response to the devastating effects of the floods on people's homes and businesses. The Policy is available to help reduce the financial burden of ME Bank customers who have suffered loss of property, employment or are facing any other financial difficulties.

"We know the impact of the floods throughout Queensland and New South Wales on people's homes, businesses and lives has been devastating. Our thoughts are with all those affected and we hope the availability of ME Bank's Customer Hardship Policy will go some way to reducing the financial burden for our members," said Mr. Jamie McPhee, CEO, ME Bank.

Specifically, the financial relief will include:

• Opportunity for up to 3 months suspension of repayments, with capitalised interest for Home Loan customers;
• Waiving of fees for any fixed term savings (I.e. Super Members Term Deposit, Standard Term Deposit, Business Term Deposit) where the customer needs to break their term early to access their savings.
• Opportunity for Personal Loan Customers to suspend their repayments for up to 3 months, with the interest capitalised to their loan;
• Prioritisation of customers applying for limit increase on their Credit Cards in order to gain access to additional funds; and
• Direct liaison by our Business Banking representatives with all affected businesses to assess their needs and offer support.

ME Bank's Customer Help Team (1300 500 520) will be available to discuss the financial relief available and customers can visit www.mebank.com.au.

"ME Bank will continue to monitor the situation to ensure we are in contact with as many impacted customers as possible, providing the necessary support and financial relief," said Mr. McPhee.