Mazomanie bank opens fund to aid area flood victims

MAZOMANIE (WKOW) – A Mazomanie bank has opened a fund to handle donations for those affected by the devastating flooding earlier this week.

The Mazomanie Area Flood Assistance Fund has been established at The Peoples Community Bank and donations are being accepted at any of the bank’s locations in Mazomanie, Arena, Barneveld, Plain, Spring Green and Richland Center.

Proceeds from the fund will be allocated based on need to affected homeowners by a committee of local residents and business people, according to a news release.

Tuesday’s flooding in the Mazomanie area exceeded the defined floodplain and left many homeowners without insurance coverage for damages sustained.

The Peoples Community Bank is also offering six-month, no-interest loans of up to $5,000 to homeowners in flood-affected areas subject to normal credit underwriting.

At loan maturity borrowers will have the option of placing the loan on payments for up to five years at a fixed rate of interest comparable to home mortgages of similar term.

Applicants may contact any residential mortgage lender of the bank for assistance.

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