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Australia’s credit unions and building societies are offering their clients affected by the floods hardship packages.
As part of the industry package, clients will have their ATM direct charge fees removed for the next two weeks.
Affected clients will also be given the opportunity to suspend home and personal loan repayments for up to three months, as well as waiver late fees for home and personal loan repayments.
They will also be given the opportunity to suspend credit card payments for one month, waive debit card replacement fees, personal loan establishment fees, and term deposit break costs.
“The devastation and tragedy in Queensland affects us all, and our thoughts are with Queenslanders at this time,” Louise Petschler, CEO of the mutual industry body Abacus said.
“Individual credit unions and building societies will be standing beside their members now and in the difficult months ahead.”
An offer refers to a conditional proposal made by a buyer or seller during a transaction for an asset or property, which becomes legally binding when accepted by both parties.