The financial services industry responded to the September 11 attacks by pledging almost US$80 million to relief efforts, according to a new survey released by The Financial Services Roundtable.

In addition to financial contributions, financial institutions made key changes in business practices to aid consumers. They offered low interest loans and lines of credit; extended grace periods; waived late fees on credit cards, loans, and mortgage payments; and delayed reports of delinquencies to credit bureaus. Many also held onsite blood drives, with more than 8,000 units of blood donated to the Red Cross.

The Roundtable’s survey of its members also showed that giving by its members to the local community in 2000 rose 16% from the previous year. The companies contributed more than US$1 billion and volunteered more than 7.3 million hours to local charities, including the United Way, Habitat for Humanity, and the YMCA/YWCA.

“Community investment and community involvement are hallmarks of our industry,” said Steve Bartlett, president of The Financial Services Roundtable. “When tragedy hit September 11, members of the Roundtable quickly and compassionately came forward to support the victims and those who were adversely affected,” Bartlett said. “I’m proud of what our industry stands for in times of crisis, what it gives back to the community every day, and the leadership it shows.”