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by pltm
(PLTM) - Scotiabank is announcing a three (3) month Customer Assistance Program, a relief effort designed to help their customers in the British Virgin Islands, St. Maarten, Anguilla, the US Virgin Islands, Dominica and the Turks and Caicos Islands who have been severely impacted by this year’s destructive hurricane season.
Customers in the countries mentioned above will have their mortgage and personal loan repayments automatically suspended until October 31st, with no action required from the customer. If the customer requires additional time, they can defer their payments for a further two (2) months until December 31st. Customers will not be required to make any principal or interest payments, however, interest will continue to accrue and will be payable in monthly installments at the end of their loan. Customers who wish to opt out of this payment moratorium will be asked to contact their branches immediately by calling the Contact Center at (284) 494-3130.
This temporary suspension on payments will allow customers the time needed to assess their personal circumstances and to let us know if they wish to defer their loan payments up to an additional two (2) months. Customers wishing to exercise this option are asked to contact their bank representatives through Scotiabank’s Contact Center before October 31st. Customers are also invited to contact the Bank to discuss any financial needs not included in the Customer Relief Program.
“The impact of this active hurricane season on our customers and the communities in which we operate has been devastating,” says Brendan King, SVP Caribbean Region. “We want to play our part in the rebuilding process by giving our customers one less thing to worry about. Scotiabank’s commitment to the region, our customers and our employees is unwavering during these very challenging times.”
Scotiabank had previously announced a donation of US$500,000 towards the relief effort as part of their contribution to the rebuilding exercise. Half of this money will be channeled through the Canadian Red Cross that already has active societies in the affected communities, with the remainder being directed to initiatives supporting young people in these areas.
