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Commonwealth Bank activates emergency package for northern NSW flood victims

7 January 2008

The Commonwealth Bank has activated its special emergency assistance package to assist its customers affected by storms and flooding in northern NSW.

"The Commonwealth Bank is concerned at the impact the storms may have on customers," said the Bank’s Group Executive, Retail Banking Services, Ross McEwan.

"As a result, we’ve put special arrangements in place for our customers. Our staff are ready to assist customers promptly with their financial concerns and enquiries."

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

  • expediting claims to CommInsure for customers seeking help through their home and contents insurance,
  • loan restructuring for business customers with existing loans, without incurring the usual bank establishment fees,
  • providing additional loans or changes to repayment arrangements for Commonwealth Bank home loan customers who may experience difficulties because of the storms and flooding,
  • review credit card instalments for customers of good standing and consideration of requests for emergency credit limit increases,
  • waiving prepayment charges over the next month for affected customers wishing to access term deposits, Commonwealth Investment Bonds and CBFC debentures 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.

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

ENDS

For further media information please contact:

Bryan Fitzgerald
General Manager, Media
Marketing and Communication
Telephone: (02) 9378 2663
0414 789 649

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