CBA Bank customers have shown an overwhelming level of support for those affected by the ongoing catastrophic floods across Australia’s east coast, already contributing more than $500,000 to the CBA .
CBA has already dollar matched all these contributions and today extended its dollar matching to $1m, in addition to its previous and separate $500,000 donation. In total, CBA, its customers and the community are together set to donate up to $2.5 million to those people and businesses affected by the floods.
CBA CEO, Matt Comyn said: “Through this time we have seen communities rallying together to help each other and we thank customers for their donations, and are pleased to be getting the funds out to help those who need it most.”
CBA through the CanGive Flood Appeal is immediately deploying funds to support the relief effort, donating:
- $200,000 to the Australian Red Cross;
- $100,000 to the NSW State Emergency Service (SES);
- $100,000 to the Queensland Fire and Emergency Services (QFSES); and
- $100,000 to Thread Together1.
“We are delighted to be partnering with these critical organisations to help get much needed support to the local communities affected by these devastating floods,” Mr Comyn said.
Commenting on the donation, CEO of Thread Together Anthony Chesler remarked: “We have already despatched 100,000 units of clothing into South East Queensland. With this donation we will be able to set up pop-up locations to distribute clothing in Lismore, Indooroopilly and Milton in South East Queensland next week to help the community access brand new clothes.”
CBA also has a range of measures available to our personal and business customers affected by the floods.
“We have a number of support measures on offer to customers that include options to defer payments on home loans and credit cards, as well as personal and business loans, and we encourage those affected to message us in the CommBank app for a quick response.
“While some of our branches and ATMs have been affected, most of our services are up and running for our customers and we are working to return the remaining branches and ATMs to full operations as soon as possible. We are also ensuring additional cash supplies are delivered to affected areas to help communities get back on their feet, and working with Australia Post to ensure we have support available to customers in areas where our branches are inaccessible,” Mr Comyn said.
The support measures on offer to all CBA and CommInsure customers in flood-impacted areas across Queensland and northern New South Wales will be assessed on a case-by-case basis and may include:
- Customised payment arrangements including option to apply to defer payments for your home loan, credit card and personal loan.
- Customised payment arrangements including option to apply to defer payments on eligible business loans.
- Waiving fees and charges.
- Temporary overdrafts, additional loans or emergency credit limit increases (subject to credit approval).
- Waiving fees and notice periods for early access to Term Deposits.
- For CommInsure customers, we are able to assist with emergency accommodation if your home has been damaged.
- Loan restructuring for business customers and existing loans.
- Waiving fees for temporary and damaged merchant EFTPOS terminals, as well as support with merchant terminal rental fees.
- We can also expedite claims to CommInsure for customers seeking help through their home and contents insurance.
