COMMONWEALTH BANK READY TO ASSIST DAIRY FARMERS

Commonwealth Bank today announced a range of measures to help dairy producers struggling with the current fall in milk prices.

Commonwealth Bank Regional and Agribusiness Banking Executive General Manager, Geoff Wearne, said: “We know some of our dairy farming customers have been hit hard by the current pricing issues.

“We know this is a very tough time for those affected and we are concerned for their welfare. We have already started to contact our customers to let them know that we are here to listen and help them through this difficult time.”

We have a number of options for our agribusiness customers that we can consider on a case by case basis. These include:

• Cash management: allowing withdrawal of fixed term deposits before maturity without charges
• A business loan or mortgage repayment holiday
• Extending the business or mortgage loan term agreement
• Waiving fees and charges.

Commonwealth Bank always seeks to engage customers early to discuss options and work through any difficulties that may arise.

Those customers experiencing hardship can also contact the CBA Business Service Centre on 1300 772 968 or their Relationship Manager.

In addition, we encourage customers to contact the Department of Agriculture who provide free rural financial counselling for hardship cases: Rural Financial Counselling Service on 1800 686 175.

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