Associated Responds to Midwest Flooding
- Associated to donate up to $100,000 for Disaster Relief -Company Release - 06/24/2008 13:18
GREEN BAY, Wis.--(BUSINESS WIRE)--
Associated Banc-Corp (NASDAQ:ASBC) announced today that it has taken steps to assist individuals and communities in those areas that have been impacted by recent flooding and severe weather in the Midwest. Associated Bank will donate $50,000 for disaster relief. Donations will be made to local American Red Cross chapters in the declared disaster areas throughout the bank's three-state footprint. In addition, Associated has launched an employee giving campaign and has agreed to match employees' donations to the disaster relief fund up to an additional $50,000.
"Many of our communities have been hit hard by the recent flooding," said Chairman and CEO, Paul Beideman. "Our compassion and concern go out to those whose homes and businesses have been destroyed or damaged. The bank and its employees are committed to providing assistance during these challenging times."
Associated Bank has also agreed to set aside up to $100 million for special loans for individuals who have been directly impacted by the floods and severe weather. Qualified borrowers will be able to obtain an unsecured loan (a minimum of $2,500 and a maximum of $10,000) at a discounted rate. The bank will also offer qualified homeowners a home equity loan at a discounted rate with reduced closing costs.
The bank has established a special toll-free number, 1-866-504-2774, to assist customers who have been affected by the recent flooding. A Flood Response Team will provide callers with information about the bank's payment deferral program (up to 12 months) for customers in need and special loan programs for flood victims, along with information about state and federal disaster aid and how to file insurance claims. Associated's Flood Response Team is available between 8 a.m. and 5 p.m. Central Time, Monday through Friday.
"We want to provide assistance quickly to those affected by the devastating flooding in the Midwest," said Lisa Binder, Associated's president and chief operating officer. "We will do everything we can to make information easily accessible and assist those in need."
Associated has more than 5,000 employees in Wisconsin, Minnesota, and Illinois. To address its employees' needs, the bank has implemented an emergency extension of its current sick time policy to provide employees with up to one week of allotted paid time off to deal with personal matters related to flood and severe weather damage.
Associated Bank is part of Associated Banc-Corp, headquartered in Green Bay, Wis., a diversified bank holding company with total assets of $22 billion. Associated, an Equal Housing Lender, has more than 300 banking offices serving approximately 180 communities in Wisconsin, Minnesota and Illinois. Associated offers a full range of traditional banking services and a variety of other financial products and services. More information about Associated Banc-Corp is available at www.AssociatedBank.com.
Source: Associated Banc-Corp
Contact: Associated Bank Janet L. Ford, VP of Public Relations Office: 414.278-1890 Cell: 414.207-5070 firstname.lastname@example.org