Charter One Announces Support for Customers and Communities Impacted by Hurricane Sandy
Charter One and RBS Citizens Financial Group, Inc. today announced a $150,000 pledge to support Hurricane Sandy relief efforts and a new suite of emergency lending products and other services designed to expedite the recovery for individuals, small businesses and nonprofit organizations.
The pledge to support Hurricane Sandy relief efforts will include $100,000 to nonprofits responding to critical community needs in impacted states, and $50,000 to the American Red Cross. Starting Nov. 2, Charter One will begin offering low-interest loans, introductory no-interest credit cards and other recovery financing options to help customers in Ohio, Delaware, Pennsylvania, New York, New Jersey, Connecticut, Rhode Island, Massachusetts, New Hampshire and Vermont.
“The effects of Hurricane Sandy are widespread across the communities where we live and work in Ohio, and we are committed to helping people get back on their feet,” said Ken Marblestone, President of Charter One and RBS Citizens in Ohio. “The American Red Cross and our local nonprofit partners in Ohio have an incredibly difficult task in front of them, and we hope our efforts will make a positive difference for that effort and also for our customers as they recover from the storm.”
To help Consumers, Charter One will offer the following products:
- $10,000 Unsecured Emergency Loan: Qualified borrowers can apply for unsecured emergency loans of $1,000 to $10,000 at a rate of 5.00 percent APR. There is no prepayment penalty. To qualify, applicants must meet credit eligibility standards.
- 0% Interest Credit Card for Six Months: Individuals can apply for a new card with zero percent interest on new purchases and balance transfers for six months.
To help Small Businesses, Charter One will offer the following products:
- Business Banking Emergency Flex Loan: Charter One is proud to offer small businesses impacted by Hurricane Sandy a special emergency Business Flex Loan (loans up to $100,000 and terms up to 60 months) that provides the convenience of a line of credit for the first six months, and the stability of a term loan thereafter. Businesses impacted by Hurricane Sandy can apply for a line of credit at a 1% rate for the first six months, followed by a ½ percent reduction on the term rate.
- 0% Interest Credit Card for Six Months: Small business customers can apply for a new card with zero percent interest on new purchases for six months. Charter One will expedite the processing and delivery of the card so customers will receive it the next business day after it has been approved.
Customers can apply for these products/special offers by visiting a Charter One branch, or by calling (877) 949-7504 (consumers) or (888) 610-7559 (small businesses) between November 2 and November 30, 2012. Loans are subject to credit eligibility.
The severity of Hurricane Sandy forced the closure of some Charter One branches in Ohio last week. Throughout the storm, the bank has continued supporting its customers via online banking at www.charterone.com and through its 24/7 Customer Contact Center at (877) 949-7504.
About Charter One
Charter One is a division of RBS Citizens, N.A., operating in Illinois, Michigan and Ohio. It has 340 branches and 510 ATMs. It has 104 branches and 244 ATMs in Illinois. It has 103 branches and 106 ATMs in Michigan. It has 133 branches and 160 ATMs in Ohio. Charter One's website is charterone.com.
RBS Citizens, N.A., is a subsidiary of RBS Citizens Financial Group, Inc., a $132 billion commercial bank holding company. It is headquartered in Providence, R.I., and through its subsidiaries has more than 1,400 branches, approximately 3,600 ATMs and approximately 18,950 colleagues. Its two bank subsidiaries are RBS Citizens, N.A., and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont; and the Charter One brand in Illinois, Michigan and Ohio. RBSCFG has non-branch retail and commercial offices in more than 30 states. RBSCFG is owned by RBS (the Royal Bank of Scotland Group plc). RBSCFG's website is citizensbank.com.
Consumer Credit Card - 0% Intro fixed APR
for Purchases and Balance Transfers will remain in effect for the first
6 billing cycles, as long as your Account remains in good standing. No
Balance Transfer Fees for the first 6 billing cycles, thereafter a
Balance Transfer Fee of 4% or the amount of $10 will apply, whichever is
greater. After the Introductory Period, for the Platinum Credit Card
your variable APR will be 13.99%, 16.99% or 18.99% (as of 11/1/12) and
for the CashBank Credit Card your variable APR will be 14.99%, 17.99% or
19.99% (as of 11/1/12) based on a review of your credit. The 0% APR does
not apply to Cash Advances. Higher rates apply in the event of default
up to 29.99%. Minimum Periodic Interest Charge: $1.50. Transaction Fee
for Cash Advances: 3% of the transaction but not less than $10; the
greater of $20 or 5% of the transaction for Cash Equivalent
Transactions. Foreign Transaction Fee: The greater of $1.50 or 3% of the
transaction amount. Credit card is issued by RBS Citizens, N.A.
MasterCard® and is a registered trademark of MasterCard International
Business Platinum Credit Card: New Business Credit Card customers receive an introductory APR of 0% on purchases for first six months. On the first day of the 7th billing cycle, APR will be set to either 8.99%, 14.99%, 17.99%, or 19.99% (as of 11/1/12) based on a review of your credit.
Everyday Points Business Credit Card: New Business Credit Card customers receive an introductory APR of 0% on purchases for first six months. On the first day of the 7th billing cycle, APR will be set to either 11.99%, 16.99%, 19.99%, or 21.99% (as of 11/1/12) based on a review of your credit. Business Owner is awarded 3,500 bonus points upon first purchase within 90 days of account opening. Bonus points will be posted to your account within 2 billing cycles.
See Terms and Conditions for details. Credit card is issued by RBS Citizens, N.A. MasterCard® and is a registered trademark of MasterCard International Incorporated.
Jim Hughes, 781-751-5404