Bank Aids Individuals Impacted by October Snowstorm

Webster Bank is offering special assistance to homeowners and businesses affected by the October snowstorm that slammed parts of the Northeast region.

Bank customers who were affected by the storm can apply for reduced loan rates and a new Webster unsecured personal home loan. The interest rate for this loan is 1.5% below the standard rate.

Loans range from $1,000 to $15,000, and the bank said that this fixed rate loan would provide a “simple way for affected residents to gain fast access to funds for repairs and living expenses.”

This loan rate is a limited time offer that ends on Dec. 15.

Additionally, the Waterbury, Conn.-based bank is also waiving customers' late fees on loan payments that were due between Oct. 29 and Nov. 5 which were never paid due to storm related effects such as power outages, branch closures or delays in mail service.

Customers who were forced to use other bank's ATM machines because Webster's equipment was not functioning during the storm will receive refunds.

Webster Bank is also providing assistance to small business owners who were impacted by the storm about their financing needs.

“Hundreds of thousands of people have had their lives disrupted by this unexpected storm and need assistance,” said Jason Smith, chairman and CEO of Webster Bank. “Webster bankers are committed to provide financial support, including special terms on financial products and services, to see our customers through this latest weather-related hardship.”

Webster Bank has more than 170 banking offices located throughout Southern New England and Westchester County, N.Y.