Major bank launches disaster relief for Bunbury, WA

Major bank NAB has launched relief measures for customers impacted by the tornado in Bunbury, Western Australia. The Disaster Relief Grants of $1,000 have been made available for eligible NAB customers in the impacted areas.

The City of Bunbury endured a severe storm and tornado that caused destructive winds on 10 May 2024. According to the Western Australian government, more than 200 residential properties, community facilities, and essential public assets were damaged from the storm’s impact.

NAB’s grants aim to provide immediate assistance in the aftermath of the storm for customers who have experienced significant damage to their homes or businesses.

Libby Greenwood, NAB’s retail executive, Western Australia, stated that the range of support measures, such as grants and loan deferrals, was “in place to help NAB customers left devastated by the tornado”.

“To the families, communities and businesses in Bunbury who have suffered damage to their homes and premises: we are here to help,” Greenwood said.

“This will be a testing time for our communities and we’re standing by them, providing immediate assistance, and making $1,000 grants available to help those most affected.

“NAB customers impacted in Bunbury are encouraged to contact us as soon as possible.”

Other support measures include loan deferrals or reduced payment arrangements for home, personal, and some business loans; hardship support for customers struggling to make minimum monthly payments on home loans, personal loans, or credit cards; and waiving and/or refunding fees and charges (such as merchant terminal fees and early access fees to term deposits).

The major bank has informed that all relief inquiries will be assessed on a case-by-case basis to determine eligibility. The Disaster Relief Grants will remain open until 6 June 2024.

Furthermore, the grants are not available for minor damage to homes; damage to personal items and appliances including sheds, garages, and gardens; or loss or damage to investment properties or holiday homes.

In addition to NAB’s grant, the Western Australian government has activated jointly funded disaster recovery assistance, provided by the Albanese and Cook governments’ Disaster Recovery Funding Arrangements (DRFA) to individuals, families, and small businesses in the affected areas.

This joint assistance aims to build on the emergency support already available through the Western Australian Premier’s Relief Payment for eligible individuals to meet immediate and essential needs.

[RELATED: Lenders open financial assistance for Cyclone Kirrily]

Adrian Suljanovic is a journalist at Broker Daily with more than two years experience reporting on all facets of the third party distribution channel.

Adrian has written for a range of business and finance titles including IFA, Investor Daily and Lawyer’s Weekly before joining the mortgages team in 2022.

He graduated from the University of Wollongong in 2021 gaining a Bachelor of Communication & Media with a major in Digital & Social Media.

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