22 May 2025
Banks are on standby to support customers across the Mid-North Coast and Hunter regions impacted by the current severe weather and flooding.
ABA CEO Anna Bligh said with torrential rain and flooding taking place, banks were activating financial assistance and relief to support their customers.
“Banks recognise that this is a very challenging weather event and are making sure financial support is available to customers should they need it.
“You don’t have to tough it out on your own. Banks have financial relief measures to help customers navigate through this incredibly challenging time.
“It doesn’t matter if you’re an individual, a farmer or a business customer, banks have a range of options from repayment deferrals through to loan restructuring to help you get back on your feet.
“Banks have highly experienced specialist teams ready to assist with any financial concerns or questions customers might have.
“I urge anyone who is facing financial stress as a result of this extreme weather event to reach out to their bank and discuss support options. This doesn’t have to be today, it could be in the next few weeks or months as recovery efforts get underway.”
Depending on individual circumstances, assistance may include:
- Deferral of loan or credit card repayments
- Waiving or refunding fees and charges
- Restructuring existing loans without penalty
- Emergency credit limit increases or temporary overdrafts
- Additional finance to help cover cash flow shortfalls
To learn more about natural disaster assistance visit: https://www.ausbanking.org.au/natural-disaster-assistance/
Latest news
E&OERadio InterviewInterview on ABC Sydney Drive21 September 2026 Topics: Refinancing and competition in the home loan market; Hardship support Thomas Oriti: Now, have you had to refinance your mortgage, perhaps because of rising interest rates, or maybe something else? Maybe your work situation changed, and you weren’t bringing in as much money. What was that… Read more »
Banks will better detect, prevent and respond to financial abuse under an updated industry guideline released today by the Australian Banking Association. The ABA has brought together separate resources on financial abuse, including elder abuse and family and domestic violence into a single framework, building on existing industry guidance and supporting the financial abuse provisions… Read more »
The ABA and its member banks are reminding businesses to make sure they are ready for the upcoming Reserve Bank of Australia’s (RBA) card surcharge reforms which take effect from 1 October 2026. These changes mean: ABA CEO Simon Birmingham said banks were supporting business customers to prepare for these changes, along with implementing the… Read more »