Commonwealth Bank offers assistance package to NSW flood victims

12 March 2001

The Commonwealth Bank has activated its comprehensive special emergency assistance program to help the Group's customers affected by floodwaters sweeping through towns and farming areas in north-eastern New South Wales.

The Bank's General Manager in NSW, Neil Schafer, said: "The Commonwealth Bank is concerned that families, farmers and business people in the affected areas are suffering because of the floodwaters. Accordingly, we've put special arrangements in place to help our customers meet their financial needs resulting from the floods".

Mr Schafer said the key features of the Bank's special assistance package included:

  • loan restructuring for business customers with existing loans, without incurring the usual bank establishment fees.
  • additional loans or changes to repayment arrangements for Commonwealth Bank Group home loan customers who are experiencing difficulties because of the flooding. They are urged to contact staff at their local branch or the Customer Service Centre on 13 2224 (between 8 am and 8 pm any day of the week).
  • review and postponement of credit card instalments for customers of good standing and/or consideration of requests for emergency credit limit increases.
  • waiving of prepayment charges over the next month for affected customers wishing to access term deposits ahead of the maturity date.

"Our staff will be ready to discuss with customers their overall financial position, any change in repayment arrangements, or to consider options for additional loan funds," Mr Schafer said.

Customers interested in the special assistance package should contact their local Commonwealth Bank Group branch or Relationship Manager