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FIRST UNION MAKES $1 BILLION COMMITMENT AND OFFERS HELP IN WAKE OF HURRICANE ANDREW

 FIRST UNION MAKES $1 BILLION COMMITMENT
 AND OFFERS HELP IN WAKE OF HURRICANE ANDREW
 JACKSONVILLE, Fla., Aug. 25 /PRNewswire/ -- First Union National Bank of Florida is setting aside $1 billion for loans targeted to South Florida and is extending special services to customers in areas affected by Hurricane Andrew.
 "This $1 billion commitment demonstrates our willingness and our readiness to fuel the economic recovery that can result from a coordinated and energetic community response," said Byron E. Hodnett, chairman and chief executive officer of First Union National Bank of
Florida. "We are mobilizing First Union teams throughout the region to ensure we quickly get back to business and help our customers and communities recover."
 In addition to the loans to qualified customers in the affected areas, First Union will assist existing loan customers with payment deferrals for up to 60 days without penalty, offer home improvement loans without origination fees and at reduced rates throughout the affected region, and provide emergency loans while insurance claims and applications for federal or state disaster relief funds are being processed.
 To assist employees as they return to work in the disaster areas, First Union is arranging on-site daycare and bringing in extra employees to relieve South Florida workers who need to take care of emergencies at home.
 As of June 30, 1992, First Union National Bank of Florida reported assets of $27.2 billion and operated 551 offices statewide.
 -0- 8/25/92
 /CONTACT: (Florida media) George Owen, 904-361-3151, or (All other media) Jeep Bryant, 704-374-2957 (office) or 704-335-0415 (home), both of First Union Corporation/
 (FTU) CO: First Union National Bank of Florida; First Union Corporation ST: Florida, North Carolina IN: FIN SU:


CM -- CH002 -- 2889 08/25/92 08:52 EDT
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Publication:PR Newswire
Date:Aug 25, 1992
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