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ASB launches Pike River Support Fund

Media release
25 November, 2010

ASB launches Pike River Support Fund and Emergency Assistance Package

ASB Bank has responded to the Pike River Mine tragedy by opening a special account for public donations to assist those families who have been impacted. ASB will be making a substantial donation to this fund. Details are as follows:

“Our priority is to ensure that ASB’s response to this terrible tragedy takes into account the views of the people living and working in the local Greymouth community who are closest to the situation,” says Ian Park, ASB Acting CEO.

“We have also been talking to the local Greymouth community leaders during the week to determine how we can best provide ongoing relief and support.”

“With many people requiring prompt assistance with their financial concerns and enquiries, ASB, including our branches based in Greymouth, Hokitika and Westport, is ready to respond immediately to our customers’ needs. We also have dedicated resources manning ASB’s Financial Help Line (0800 272 735),” adds Mr Park.

ASB has announced a special customer assistance package which is available for customers in need. This includes:

• Up to $10,000 secured overdraft for home loan customers and $2,000 for other personal customers at a reduced variable interest rate that is 1.25 percent below our variable housing rate (the current interest rate for these loans is therefore 5 percent)
• Loan holidays on request
• Provision of additional loans or changes to repayment arrangements for home loan and business loan customers experiencing financial difficulties as a result of this disaster
• Review of credit card instalment repayments, including immediate consideration of requests for emergency limit increases
• Expediting claims to ASB’s insurance partner, Sovereign
• Waiving term deposit break fees for impacted customers wishing to access their funds ahead of maturity date.


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