Wealth manager La Trobe Financial has established a flood disaster relief fund in an effort to provide help to their clients who are affected by the floods in New South Wales and Queensland.
The $1m fund will be used to provide $2,000 cash grants for eligible customers who are in need for clothing, food and temporary accommodation.
La Trobe Financial is also offering mortgage deferral of up to four months for their customers whose homes are impacted by the floods.
Other options on the table are reductions of mortgage repayments or a switch to interest-only payment terms. Furthermore, La Trobe Financial have made arrangements so that customers can easily access their investments in La Trobe Australian Credit Fund.
Greg O'Neill, president and CEO of La Trobe Financial, said the fund is designed to help alleviate the crisis that some of their clients have been dealing with over the past year.
"I cannot imagine how these people are feeling. We have just come out of bushfires and COVID-19 and to be confronted by these floods is a real test to their Australian spirit," he said.
"However, we will stand together with all of our customers and support those most in need and help them rebuild their lives as quickly as possible," he said.
Other financial institutions have set up their respective support schemes for affected customers. Check out the links before for more information: