Commonwealth Bank donates $250,000 to Victorian Premier’s Red Cross Flood Appeal & reaffirms assistance package for victims

18 January 2011: The Commonwealth Bank will donate $250,000 to the Victorian Premier’s Red Cross Flood Appeal to assist those affected by the floods in regional Victoria.

“We understand the need to reach out and support Victoria’s flood victims as much as possible. In addition to activating our Emergency Assistance package we are supporting victims with a donation to the Appeal,” Ralph Norris, Commonwealth Bank Chief Executive Officer said.

“Our support will provide our Victorian customers with options to assist them during the crisis as well as deliver broader community support through the Red Cross Appeal donation.”

The Bank earlier this week activated its emergency assistance package for customers affected by the disaster. Key features of the Bank’s special assistance package include:

  • providing tailored solutions and assistance to Commonwealth Bank home loan, credit card and personal loan customers who may experience difficulties because of the flooding,
  • 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 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, 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.

“On behalf of all staff at the Commonwealth Bank our thoughts and best wishes are with Victorian’s impacted by this natural disaster,” Mr Norris said.

Customers seeking assistance should call 13 2221.

Donations to the Australian Red Cross Society Victorian Floods Appeal can be made at any Commonwealth Bank branch.


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For further information please contact:
Steve Batten
Commonwealth Bank 
T: 02 9117 7050 
M: 0411 080 268