Bank seeks to minimize impact of federal sequestration on families
SALT LAKE CITY, Utah; March 27, 2013 — Zions Bank today announced it will offer a Furlough Assistance Program to help minimize the financial impact of the federal sequestration on the military, including guardsmen, reservists along with Department of Defense (DOD) civilians and other federal employees facing employment furloughs.
The program allows Zions Bank to modify existing loan and credit card terms for current clients, and to expedite the credit approval process for both new and existing clients, according to Brian Garrett, a senior vice president who oversees Zions Bank’s Military Relations program. Modifications will be considered on a case-by-case basis.
“The Military Furlough Assistance Program is part of Zions Bank’s long-standing commitment to our service members and our veterans to do all we can to improve the quality of life for those folks who have given so much for our country,” said Garrett, who joined Zions Bank in 2007 after a military career that included three years of active duty service and 19 years in the reserves.
The Department of Defense is preparing to furlough 13,000 employees in Utah and Idaho for up to 22 days over the coming months, which could result in a 20 percent income reduction to these individuals, according to Garrett. Employees facing furloughs are encouraged to visit their local Zions Bank Financial Center for more information.
Zions Bank’s Military Relations program develops products and discounts for service members and their families and DOD civilians. Specialized products include two types of checking accounts plus ATM fee waivers for deployed military personnel.
The bank also supports the quality of life for military families through charitable donations, community engagement and volunteerism.
Internally, Zions Bank’s Military Relations program serves hundreds of veterans, guardsmen and reservists who work at Zions Bank — as well as their families. As one example of this commitment, Zions Bank employees previously raised $11,000 for the son of an employee who was seriously injured in combat.
In addition, the bank offers a military internship designed to help veterans return to civilian life through a 12-week program that provides on-the-job training, banking work experience, positive networking opportunities and personal growth.
Zions Bank is Utah’s oldest financial institution and is the only local bank with a statewide distribution of financial centers, Zions Bank operates locations in communities throughout Utah and Idaho. In addition to offering a wide range of traditional banking services, Zions Bank is also a leader in small business lending and has ranked as the No. 1 lender of U.S. Small Business Administration 7(a) loans in Utah for the past 19 consecutive years. Founded in 1873, Zions Bank has been serving the communities of Utah for more than 135 years. Additional information is available at www.zionsbank.com.