fbpx
Skip to main content
Tropical Cyclone Seroja: Emergency Assistance

Banks stand ready to help cattle farmers affected by floods

8 February 2019

Queensland cattle farmers affected by flooding are being urged to contact their banks, who have special teams ready to help and provide a wide range of assistance.

As announced earlier this week banks stand ready to assist customers affected by Queensland floods, bushfires in Tasmania and other natural disasters through arrangements such as deferred loan payments, waiving fees and charges and assisting with debt consolidation.

CEO of the Australian Banking Association Anna Bligh said Australia’s banks stood ready to help farmers, including cattle farmers, who have been devastated by floods over the last few days and urged anyone needing assistance to contact their bank directly.

“After suffering through an extensive drought, many Queensland Cattle farmers have now been cruelly devastated by these floods,” Ms Bligh said.

“Banks stand ready to help cattle farmers and others affected by these floods and other natural disasters through deferred loan repayments, waiving fees and other arrangements.

“Banks have dedicated hardship teams ready to assist, however it’s important that customers contact their bank directly to flag they are experiencing hardship,” she said.

ABA member banks offer a range of services to help customers who have been affected by natural disasters or other circumstances outside their control.

Services on offer to customers who have been affected by natural disasters or other circumstances beyond their control can include:

  • A deferral of scheduled loan repayments
  • Waiving fees and charges, including break costs on early redemption of Farm Management Deposits
  • Debt consolidation to help make repayments more manageable
  • Restructuring existing loans free of the usual establishment fees
  • Deferring interest payments on a case-by-case basis
  • Offering additional finance to help cover cash flow shortages
  • Deferring upcoming credit card payments
  • Increasing emergency credit card limits
  • Waiving early termination fees for customers who wish to access their term deposits.

ENDS
Contact: Rory Grant 0475 741 007

Latest news

1 / 3
Media Releases
Support available for customers affected by Tropical Cyclone Seroja
15 April 2021

Australian banks are ready to help customers in Western Australia who are rebuilding after the destruction inflicted by Tropical Cyclone Seroja. Communities in WA’s mid-west were devastated by the cyclone last week, when it crossed the coast near the town of Kalbarri. Geraldton, Northampton, Binnu, Chapman Valley, Mingenew and a number of other towns were… Read more »

Read more
Media Releases
Banks unite to help customers experiencing financial abuse
4 April 2021

Australian banks are launching updated guidelines on financial abuse as part of their continued focus on responding to family violence and elder abuse.

Read more
Media Releases
Banks call for consistent laws to prevent elder abuse
31 March 2021

Australian banks are urging state and territory governments to adopt consistent laws on powers of attorney to prevent elder financial abuse.

Read more