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Washington Mutual Offers Disaster Relief Services to Texas Flood Victims; Donates $25,000 to American Red Cross Disaster Relief Fund
HOUSTON, Jun 10, 2001 (BUSINESS WIRE) -- Washington Mutual today announced that customers who are recovering from damage caused by tropical storm Allison in the federally declared disaster areas of southeast Texas are eligible for a variety of special assistance programs being offered by the bank.

Washington Mutual's disaster relief programs include accelerated home equity loans at reduced rates, flexible mortgage payment schedules and penalty-free withdrawals from time deposits. The company said it is also donating $25,000 to the American Red Cross Disaster Relief Fund and collecting additional donations for disaster aid from those who want to help at its branches.

"It has long been our policy to be responsive to customers affected by natural disasters and emergencies," said Deanna Oppenheimer, president of Washington Mutual's Banking and Financial Services Group. "This program will help get people back on their feet more quickly."

Oppenheimer said that Washington Mutual would reduce the current rate on home equity loans by 0.25% and expedite the disbursement of approved loan funds to disaster victims. It also pledged to streamline the approval process for personal lines of credit.

Washington Mutual customers who live, work or own property in the storm-impacted areas of southeast Texas and who wish to inquire about the bank's disaster relief programs should visit their local branch or call Washington Mutual's telephone banking unit at 800/788-7000.

With a history dating back to 1889, Washington Mutual, Inc. (NYSE:WM) is a national financial services company that provides a diversified line of products and services to consumers and small- to mid-sized businesses. At March 31, 2000 Washington Mutual and its subsidiaries had assets of $219.93 billion. Washington Mutual currently operates more than 2,300 consumer banking, mortgage lending, commercial banking, consumer finance and financial services offices throughout the nation.

CONTACT:          Washington Mutual
                  Adrian Rodriguez, 213/996-7718; 800/228-WAMU (9268)