Dedicated Financial Help Team to Assist ASB Customers

• New Financial Help Team Established
• Written Code Confirms ASB’s Commitments to Customers
• Specialists available to Talk to Customers in their own language

In the wake of government and media interest about banks’ responses to New Zealanders experiencing difficulties managing their debts, ASB today announced the establishment of a dedicated Financial Help Team. As part of this Financial Help initiative ASB has also published a Code of Commitments to support customers who may find themselves in financial difficulty as a result of changed personal circumstances.

“ASB has a range of financial help solutions available and we have put in place a specialist Financial Help Team to talk through these options with our customers. ASB customers may choose to call the Financial Help Team anonymously on 0800 272 735 if they would prefer, and can also request that we talk with them in their own language, if that is not English,” says ASB’s CEO, Mr Charles Pink.

“Our principal objective in publishing and committing to a Code of ASB behaviours and support is to help our owner-occupier home loan customers in particular to understand that they do have options that they can take to enable them to stay in their homes during difficult financial times.”

“The downstream effects of the current challenging economic environment mean that many New Zealanders are now facing very different personal circumstances to those they may have previously. At ASB we understand the reality of this, and the financial and emotional stress this may cause, and we are committed to acting responsibly to assist the communities in which we operate.”

Referring to ASB’s more than 161 years of experience in helping New Zealand home owners with their financial requirements, Mr Pink says, “We know that it will almost always be the first priority for people to be able to stay in their own home during uncertain times. That is why we are suggesting that ASB homeowners should come to us to discuss their situation.”

“We believe it is ASB’s responsibility to look at each customer’s own specific personal circumstances and financial commitments, so the aim of the Financial Help Team is to work with our customers to together come up with a revised payment arrangement that will help the customer as well as work for the bank,” says Mr Pink.

Like ASB’s $1B Job Creation Loans launched in February, these personalised Financial Help services are another sign of ASB’s commitment to doing its part to help New Zealand families hit by the global recession.

“ASB guarantees a personalised service for our customers under financial stress. We encourage people who are already experiencing financial difficulties with any of their debt obligations, or who know that their circumstances are likely to change, to contact us immediately. We are part of your community and, together, we will then have the best chance of finding a workable solution that everyone will be happy with.”

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