Little Rock, Ark. – Southern Bancorp announced today that it would immediately begin providing assistance to customers affected by the federal government shutdown by waiving overdraft fees during this period and providing immediate access to a no fee, no credit check, zero interest loan of up to $1,500.
Beginning Tuesday, January 22nd, affected federal government employees who are also Southern Bancorp customers may visit their nearest Southern Bancorp branch to inquire about accessing these options. Emergency loans are payable within six months or upon the resumption of government operations and payroll processing, whichever comes first.
“Southern Bancorp stands ready to assist our customers in this stressful time,” said Darrin Williams, Southern Bancorp, Inc. CEO. “In addition to these immediate measures, our team of credit counselors and financial service providers stand ready to provide further support, not only during this crisis, but also in the period following it as people begin putting their financial lives back together.”
Affected Southern Bancorp customers are asked to provide their most recent federal government pay stub as proof of employment when visiting their nearest branch to discuss specific information and guidelines concerning overdraft waivers and emergency lending. Customers may also call the Southern Bancorp Customer Care Center for help connecting with their nearest lender at 1-800-789-3428. For information on Southern Bancorp locations, visit BankSouthern.com/locations.
About Southern Bancorp
Southern Bancorp, Inc., a bank holding company; Southern Bancorp Community Partners, a 501(c)(3) development finance and lending organization; and Southern Bancorp Bank, one of America’s largest rural development banks; were founded in 1986 by a group of business, political and philanthropic leaders who were concerned about the economic decline of rural Arkansas. All three entities are U.S. Treasury certified Community Development Financial Institutions (CDFIs) collectively known as “Southern.” With $1.3 billion in assets, 65,000 customers and 46 locations in Arkansas and Mississippi, Southern invests in people and businesses in rural communities; empowers them to improve their lives; and helps them transform their communities. Learn more about Southern on the web at www.banksouthern.com & www.southernpartners.org.