Commonwealth Bank announces a $100,000 donation to help rebuild communities in bushfire affected areas

The Commonwealth Bank will donate $100,000 to support community groups impacted by the devastating bushfires across New South Wales.

“We understand the significant impact these fires have on communities across the state and we believe it is important to provide financial support to those affected by the fires,” Commonwealth Bank Group Executive Retail Banking Services, Matt Comyn said.

Mr Comyn said the Bank will donate $100,000 to community groups and associations to assist with replacing valuable equipment and resources.

“We will actively encourage community groups to apply for a grant once they have had an opportunity to take stock of the impact to their organisation and what they need to get back on their feet.”

Mr Comyn said the Bank is also accepting donations for the Australian Red Cross at all Commonwealth Bank branches and has activated its own emergency assistance package for customers.

Key features of the Bank’s special assistance package include:

·         emergency accommodation assistance for customers who have their home insured through CommInsure and their home has been damaged by the fire

·         tailoring solutions and assistance to Commonwealth Bank home loan, credit card and personal loan customers who may experience difficulties because of the fires

·         loan restructuring for business customers with existing loans, without incurring the usual bank establishment fees

·         considering requests for additional loans (including emergency credit limit increases) where, based on our enquiries, the customer could meet the additional repayments without financial difficulty

·         expediting insurance claims to CommInsure for customers seeking help through their home, contents and motor vehicle insurance

·         waiving prepayment charges over the next month for affected customers wishing to access term deposits and Commonwealth Investment Bonds ahead of the maturity date

·         waiving branch service fees where the customer is looking to obtain a service from the Bank as a result of the disaster.

“On behalf of all staff at the Commonwealth Bank, our thoughts and best wishes are with the communities impacted by this disaster. We understand each customer will have different needs and we encourage affected customers to call us on 1300 720 814,” Mr Comyn said.

Donations to the Red Cross can be made at any Commonwealth Bank branch.