ASB to give $2 million to NZ Red Cross disaster fund

Tāmaki Makaurau - ASB has donated $2 million to the NZ Red Cross disaster fund, further boosting its support for communities and customers devasted by cyclone Gabrielle.

ASB chief executive Vittoria Shortt says ASB will support communities and customers as impacted regions manage the immediate crisis and begin the long recovery process.

“The devastation we’re seeing and the stories we’re hearing from our customers and the ASB team on the ground in Hawke’s Bay, Tairāwhitiand across the North Island is sobering. Our hearts are with everyone affected by this crisis,” she says.

“While the scale and devastation of the floods is still being understood, it’s clear significant funding and support is going to be required help these regions get back on their feet.

“It’s been incredible to see the hard work already underway in impacted areas and we’re encouraging other organisations, and any Kiwi in a position to help, to get behind Red Cross or other efforts such as local mayoral relief funds.”

ASB customers have financial support available to them if they have been affected by the cyclone.

ASB customers whose homes are uninhabitable should reach out about the ex-gratia payments the bank has available. These can be processed fast and they don’t need to be paid back. So far ASB has paid more than $1 million in $2000 grants and many more customers who will be eligible for support.

ASB’s Napier and Hastings branches are open today from 10am-2pm and throughout the week to assist customers requiring urgent banking services.

An around-the-clock effort is underway to reopen ASB’s Gisborne branch from today, including installing satellite communication to enable the local team to support customers with cash and critical banking needs.

Support is available for business customers whose businesses have been significantly impacted by weather events.

Eligible personal customers can also access a temporary overdraft to support with weather related expenses or hardship at 0.01 percent, up to $2000, or $5000 if they are a home loan customer.

ASB has broader financial support available for weather impacted customers, including the option to suspend home loan principal repayments for up to three months and targeted solutions for eligible business and rural customers, including access to working capital of up to $100,000.