Press Releases

A Wachovia Hurricane Customer Assistance Line has been established to answer consumer questions and address situations related to personal banking services and financial relationships. The number is 800-472-4785.

In addition, Wachovia will offer the following special services:

• Short-term assistance loans for customers needing short-term funding for repairs or other storm-related purposes. These single-payment loans will be structured for up to 90 days at the Prime rate on a fixed or variable rate.
• Waiver of origination fee on new home improvement and consumer loans. Hurricane victims will not be charged origination fees for home improvement loans or other consumer loans made to assist in the recovery.
• Deferral of payments on existing Wachovia loans. Thirty-day payment extensions may be provided to customers with a satisfactory payment history over the last 12 months or since the account was opened.
• Waiver of early withdrawal penalty on CDs and IRAs. Wachovia penalties on withdrawal of the funds from CDs and IRAs will be waived, but government penalties may remain in effect.
• Reversal of insufficient funds and overdraft fees. These fees may be reversed if the insufficient funds or overdraft transaction was the result of storm-related events.

Wachovia business bankers will be working, on an individual basis, with customers whose businesses sustained damage from the storm. Business owners may call their local Wachovia banker or Wachovia On-Call Business Support at 800-994-9222.

"We are here to help our communities rebuild," said Stanhope A. Kelly, head of Wachovia’s banking division. "Wachovia will work with each customer on an individual basis to help remedy financial-related hardships created by this destructive hurricane."

Wachovia Corporation is a leading bank holding company with Wachovia Bank, N.A. its principal subsidiary. At June 30, 1999, Wachovia had $67 billion in assets and ranked 16th among U.S. banking firms. Wachovia Bank, N.A. has more than 700 offices and 1,300 ATMs in Florida, Georgia, North Carolina, South Carolina and Virginia.