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First Union Establishes Account for Fire Victims, Announces Special Financial Offers JACKSONVILLE - First Union has established two accounts to collect donations for Florida residents impacted by wildfire and is now making special offers to those who are faced with property damage or financial hardships as a result of the fires. "We realize that many people throughout the state want to show their concern for those who are suffering hardship but don't know how to help," said Mario Neal, First Union consumer banking director in Central Florida. "We urge them to reach out as neighbors during this time of crisis by making their donations at any First Union financial center in Florida." Checks may be made payable to the VOLUSIA COUNTY FIRE RELIEF FUND or THE AMERICAN RED CROSS DISASTER RELIEF FUND. First Union has already made a $200,000 donation to the Florida Department of Agriculture and Consumer Services to rally corporate support for firefighting efforts. To its customers who are impacted by the fire, First Union is offering 90 day extensions at no fee on existing consumer installment loans. Fire victims wanting to apply for new consumer loans may be eligible for reduced fees. First Union is continuing its offer to all customers to waive the first payment on new consumer loans for up to 60 days. Prime equity lines are offered with no closing cost at a rate of the Wall Street Journal prime plus 0 percent for the first year with a minimum cash advance of $5,000. "We encourage individuals or businesses who are suffering financial hardships because of the fires to call First Union for help," Neal said. "We will try to work on a case-by-case basis with those needing financial assistance to find a solution to meet their needs." First Union is sending a 24-foot-truck full of supplies such as eye drops, Gatorade, throat lozenges and goggles from North Carolina to Central Florida today to assist in disaster recovery efforts. The company is partnering with Eckerd Drugs to distribute supplies that it has donated, such as suntan lotion and eye-drops. First Union-Florida is a subsidiary of Charlotte-based First Union Corporation, a leading provider of financial services to 16 million retail and corporate customers throughout the East Coast and the nation. At March 31, 1998, First Union had assets of $220 billion, including its acquisition of CoreStates Financial Corp. The company serves retail and commercial customers and operates full-service banking offices in 12 states and Washington, D.C. -- END -- |
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