HOUSTON, March 25, 2020
/PRNewswire/ -- BBVA USA is
providing additional assistance across its footprint to those who
have been negatively impacted by the COVID-19 outbreak, including
new offers for consumers and small businesses, and specialized
benefits for employees.
The bank has rolled out the additional client offers as the
COVID-19 pandemic - and its corresponding impact - continues to
develop in the U.S. The offers have been tailored to clients'
specific areas of need during the ongoing crisis, and will be
available as BBVA continues to monitor the current health
situation.
"We understand that this crisis is constantly evolving and is
impacting our clients in different ways as it unfolds," said BBVA
USA President and CEO Javier Rodriguez Soler. "We are paying close
attention to our customers and doing the best we can to help them
get through this very difficult time. As this situation further
develops, the bank's dedicated team will continue to work to bring
additional offers that will help mitigate some of the stresses our
clients are facing."
BBVA USA initially announced
its package of offers on March 13.
Today, the bank is announcing additional assistance, including:
- Fixed rate small business loans of up to $50,000 with first payment not due until 90 days
after opening
- Consumers and small businesses may request refunds of overdraft
fees
- Small businesses may request waivers of service charge fees on
deposit accounts
- Special assistance and rates for advances on existing home
equity lines of credit
BBVA is currently making these offers available and will monitor
the ongoing situation surrounding COVID-19 in order to enact an end
date. Fees will be refunded at BBVA's discretion. All loans
are subject to approval, including credit approval.
Previous, and still ongoing, offers made available by BBVA on
March 13 included:
- Deferred and extension payments on existing consumer and small
business loans and credit cards
- Waived and refunded ATM fees
- Penalty-free CD withdrawals, for CDs opened prior to
March 1
All accounts are subject to approval, which may include credit
approval. For questions on accounts and to speak with a telephone
banking agent, customers can contact 844-BBVA-USA. For questions about loan deferrals
and extensions, customers can visit this special page
dedicated to COVID-19 loan assistance.
On March 20, the bank also
announced that it would be closing most of its 637 branch
lobbies and instead serving customers through its drive-thrus as a
proactive measure to protect the health and well-being of
customers, employees and communities, as well as do its part to
limit the spread of the coronavirus COVID-19. Five percent of
branches will operate with limited lobby hours three days a week.
These are branches without a drive-thru and are located more than
10 miles from the next closest BBVA location.
The bank is also encouraging customers to utilize BBVA's
award-winning mobile app to deposit checks, transfer funds,
make bill payments or send domestic or international wires, among
other functionalities.
The bank continues to work with its critical response teams,
suppliers and vendors, to avoid interruption to bank operations and
to continue providing service to its customers.
Employee coverage during COVID-19 outbreak
In addition to the specialized client offers, the bank is also
taking measures to assist with the safety and well-being of its
employees, including through employee benefits.
In response to the pandemic, the bank announced to its employees
that the company's health insurance plans would fully cover all
in-network COVID-19-related tests and treatment. Employees and
their covered dependents who are on BBVA USA health plans will not be required to
satisfy their deductible before the plan begins paying 100 percent
of the expense, and will not be required to pay co-insurance.
"The safety of our employees is one of our top priorities during
this crisis, and we want to make sure that we are taking the right
steps to protect our teammates throughout the bank's footprint,"
said BBVA USA Chief Talent &
Culture Executive Rosilyn Houston.
"This situation is one that we have never seen before in our
lifetime, and we need to provide our employees with the resources
they need to both preserve and protect their health."
For more BBVA news visit, www.bbva.com and the U.S.
Newsroom.
Additional news updates can be found via Twitter and
Instagram.
For more financial information about BBVA in the U.S., visit
bbvausa.investorroom.com.
About BBVA
BBVA Group
BBVA (NYSE: BBVA) is a customer-centric global financial services
group founded in 1857. The Group has a strong leadership position
in the Spanish market, is the largest financial institution in
Mexico, it has leading franchises
in South America and the Sunbelt
Region of the United States. It is
also the leading shareholder in Turkey's Garanti BBVA. Its purpose is to bring
the age of opportunities to everyone, based on our customers' real
needs: provide the best solutions, helping them make the best
financial decisions, through an easy and convenient experience. The
institution rests in solid values: Customer comes first, we think
big and we are one team. Its responsible banking model aspires to
achieve a more inclusive and sustainable society.
BBVA USA
In the U.S., BBVA is a Sunbelt-based financial institution that
operates 641 branches, including 330 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 44 in Florida, 37 in Colorado and 17 in New Mexico. The bank ranks among the top 25
largest U.S. commercial banks based on deposit market share and
ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). In the U.S., BBVA has been
recognized as one of the leading small business lenders by the
Small Business Administration (SBA) and ranked 8th nationally in
terms of dollar volume of SBA loans originated in fiscal year
2018.
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SOURCE BBVA USA