CBA also announced that it would accept applications up to a new maximum of $50,000 per grant.
Commonwealth Bank Chief Executive Officer Matt Comyn said: “While firefighters, volunteers and other emergency workers continue to battle the fires that have destroyed so many towns around the country, we have increased the value of the grants program to assist these communities with the rebuilding process.
“CBA’s focus is on providing practical, on the ground support to provide immediate assistance to affected customers. Just as importantly, we want to support these communities to rebuild facilities and infrastructure, and that is what our grants program is designed to do.
“We have increased both the total value of grants and the value of each grant in response to expected demand."
For more information, and to apply for a Bushfire Recovery Grant, click here.
CBA is accepting donations for the Australian Red Cross in all Commonwealth Bank branches, and in the CommBank app.
“Since CBA announced our bushfire appeal last week, donations from customers and staff have pushed the total above $1 million. I am pleased to announce that CBA will match all donations on a dollar for dollar basis. This additional money will be used to support the CBA Bushfire Recovery Grants Program,” Mr Comyn said.
Since the launch of the bank’s Emergency Assistance Package for customers affected by the bushfires Mr Comyn said the bank has expedited processing of insurance claims worth almost $100 million, and had been supporting customers with:
- Provided emergency accommodation for CommInsure customers whose homes have been damaged.
- Expedited claims for home, contents and motor vehicle insurance customers.
- Deferred repayments for home loan, credit card and personal loan customers.
- Provided emergency credit limit increases.
- Restructured loans for small businesses.
- Waived charges and notice periods for term deposits ahead of the maturity date.
- Waiving other selected fees and charges.
Under our Emergency Assistance Package we encourage affected customers to contact us to discuss a range of support that we might be able to provide. We particularly encourage volunteer firefighters to contact us if they have been financially impacted.
Customers can contact us to discuss their individual circumstances by either phoning 1300 720 814 or visiting their nearest Commonwealth Bank branch. Business customers with a business loan or a line of credit can call 13 26 07 or their dedicated CommBank relationship manager.
Commonwealth Bank is also providing paid leave to its employees who are volunteering for emergency services as part of the firefighting efforts.
Update on the Commonwealth Bank Christmas Drought Appeal
We continue to support customers and communities affected by the droughts. Commonwealth Bank’s Christmas Drought Appeal launched in November 2019 contributed $1.63 million, bringing total donations made by CBA and its customers for drought and bushfire affected communities to $3.6 million.
For more about support we are providing to farmers, businesses and communities affected by the drought, please click here.