Huntington Partners With Treasurer Kevin L. Boyce to Help Northwest Ohio Tornado Victims Rebuild
Renew Ohio provides much needed financial relief for Ohioans affected by the storms
COLUMBUS, Ohio, July 1 /PRNewswire-FirstCall/ -- Huntington Bank (Nasdaq: HBAN); (www.huntington.com) is announcing a new partnership with Ohio Treasurer Kevin L. Boyce to help Ohioans affected by recent tornado damage in northwest Ohio. Huntington and the Ohio Treasury will work together to offer financial help to qualified homeowners, farmers and small businesses looking to rebuild.
Huntington has committed to the 2010 Renew Ohio program which will allocate $20 million through linked deposits to assist those affected by the severe weather. The program provides a three percent interest rate reduction on qualified loans over a two-year period. It will be made available in Wood, Fulton, Lucas and Ottawa counties.
"At Huntington, we are committed to the communities in which we live and work," said Sharon Speyer, Regional President, Northwest Ohio, Huntington Bank. "This has been devastating to northwest Ohio and we are actively engaged in providing assistance to aid in the relief effort. Renew Ohio is a great way to help rebuild by offering financial relief to our neighbors when they need it most."
To be eligible, applicants must meet the following requirements:
-- Have suffered severe damage and/or losses as a result of the effects of the recent tornado; -- Obtain a qualifying loan with Huntington Bank or apply for the Renew Ohio program in connection with their current qualified loan to improve cash flow; -- Agree to comply with monitoring requests as required by the Treasurer.
The Ohio Treasury identified Huntington to assist in this relief effort due to its strong presence in the region.
"I applaud Huntington for supporting us in our effort to offer financial relief to residents in northwest Ohio during their time of need," said Treasurer Boyce. "I couldn't be more proud that so many have come together to rebuild these communities."
As part of Renew Ohio, Huntington consumer lending and business banking will help homeowners, small businesses and farmers repair or replace real estate, property, machinery and equipment, inventory and business assets damaged or destroyed in the northwest Ohio tornado disaster. Specifically, the program will:
-- Provide a 3 percent interest rate reduction for up to 2 years on new and existing real estate secured loans for consumers, small businesses and farmers -- Provide a 3 percent interest rate reduction for up to 2 years on new and existing secured business term loans being used to repair qualifying property and cover losses -- Provide a 3 percent interest rate reduction for up to 2 years on new unsecured consumer installment loans with terms up to four years being used to repair homes and cover losses -- Apply for qualifying loan amounts up to $400,000
In addition to taking part in Renew Ohio, Huntington colleagues also have been rallying together throughout Northwest Ohio to solicit monetary donations, assisting with various fundraising events and donation efforts to collect items needed to help lift some of the burden that this devastating storm caused for area residents – including donating PCs and printers to Lake Schools and Lake Township Police last week.
For further information, please visit https://www.huntington.com/pas/HNB1650.htm. Or contact the Ohio Treasury's Department of Economic Development by calling 614-466-6546 or visit www.ohiotreasurer.gov.
Huntington Bancshares Incorporated is a $52 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has been providing a full range of financial services including checking, loans, savings, insurance and investment services to customers for 144 years. Huntington has more than 600 branches. Huntington also offers retail and commercial financial services online at huntington.com; through its telephone bank; and through its network of more than 1,300 ATMs.
SOURCE Huntington Bank
Released July 1, 2010