1 November 2024
Banks stand ready to support Far West NSW communities hit by recent storms and ongoing power outages.
ABA CEO Anna Bligh acknowledged that many households and businesses in the Far West were still feeling the effect of this severe weather event.
“My message to customers in these communities, is please reach out to your bank if you need financial assistance,” Ms Bligh said.
“Banks have highly experienced hardship teams ready to help customers who have been impacted by natural disasters.
“You don’t need to tough it out on your own. Banks are here to help, and the sooner you get in touch the easier it will be for support options to be put in place.
“In addition to financial assistance provided by the Federal and NSW Governments, banks have a range of very practical measures available to support people.”
Depending on individual circumstances, banks can assist by:
- deferring upcoming loan or credit card payments
- providing emergency credit limit increases
- restructuring existing loans
- offering additional finance to help cover cash flow shortages
For more information, please visit the ABA’s Natural Disaster Assistance webpage.
Latest news
The ABA welcomes the release of the Council of Financial Regulators’ (CFR) reviewinto small and medium-sized banks. ABA CEO Anna Bligh said the review findings and recommendations would helpensure there is a more level playing field for Australia’s small and mid-tier banks. “This is an important step forward in ensuring Australia maintains a strong andcompetitive… Read more »
EO&E Nadia: Banks has been a big topic of discussion on the show this week because, of course, we’ve just been talking about behavioural security that the bank is bringing in. Earlier, I was telling you during the week that older women can’t get a credit card in their own name. They’re secondary card holders… Read more »
The Productivity Commission proposal to tax business cash flow is an experimental change that hasn’t been tried anywhere else in the world. This tax increase risks putting more pressure on all Australians still struggling under cost-of-living pressures. While some businesses may benefit under this proposal, it risks all Australian consumers and businesses paying more for… Read more »