Talk to you bank if you’ve been impacted by floods
9 January 2023
The Australian Banking Association said banks are ready to support communities impacted by flooding in the Kimberley region.
WA emergency services described ex-tropical cyclone Ellie as producing the worst flooding ever seen in the region. There has been significant damage to properties and businesses, and challenges in evacuating locals to safety.
Chief Executive Officer, Anna Bligh said, “This weather system has affected many in the region and banks stand ready to support impacted communities and businesses. Our message to those experiencing these challenging times is ‘don’t tough it out on your own’. When you can, call your bank if you are in financial difficulty, they are ready to help.”
“Banks hardship teams have experience working with those impacted by floods and can assist with a range of practical measures to support people to get through,” Ms Bligh said.
Depending on individual circumstances, ABA member banks offer assistance to help customers including:
- A deferral of scheduled loan repayments, on home, personal and some business loans for up to 3 months
- Waiving of fees and charges, including for early access to term deposits
- Debt consolidation to help make repayments more manageable
- Restructuring existing loans free of the usual establishment fees
- Offering additional finance to help cover cash flow shortages
- Deferring upcoming credit card payments
- Emergency credit limit increases
“Our thoughts are with emergency services, those lending support to others and the entire Kimberley region”, said Ms Bligh.
Latest news
Our piece of work that has been released today, Mandala providing the intellectual backdrop and analysis to support us in this, the essential infrastructure in relation to the Australian Banking industry, and what it means in the Australian economy, and critically, we want and encourage that we use this as a tool. Banks, our partners,… Read more »
Surging household ownership of Australian banks, record lending to first home buyers and strong competition helping mortgage holders save up to $2,000 a year are some of the findings of a new report released today. ‘The essential infrastructure: How Australian banks power the economy’ produced by Mandala on behalf of the ABA finds: ABA CEO Simon… Read more »
Australian banks welcome today’s proposal from APRA and ASIC to reduce the regulatory burden associated with the Financial Accountability Regime (FAR). ABA CEO Simon Birmingham said this was a sensible measure announced in the 2026-27 Federal Budget to reduce some of the administrative burden placed on banks related to FAR. “This is a commonsense and… Read more »