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CBA story

Drought relief appeal raises over $7.8 million to provide support to farming communities

Drought relief appeal raises over $7.8 million

Commonwealth Bank fundraising for drought-affected farmers reached over $7.8 million, thanks to the generosity of customer donations.

Our customers raised an overwhelming $5.4 million for Australian Red Cross, including $3.98 million through CANGive, the new fundraising tool on the CommBank app. It’s the first time customers could donate digitally to a charity-led appeal on their mobile phone or tablet.

More than $1.4 million was raised in August through the CBA branch network, led by the NSW and ACT region, where the grassroots effort started at the end of July.

CBA’s fundraising efforts started with a $2 million donation, which saw $1.75 million donated to Australian Red Cross and a further $250,000 donated to Rural Aid’s “Buy a Bale” campaign.

After more than a month of fundraising, the total donation from Commonwealth Bank customers, employees and members of the community has reached $7.8 million*. 

This includes more than $462,000 customer donations to the Burrumbuttock Hay Runners.

Angus Sullivan, Group Executive Retail Banking Services Commonwealth Bank, says: “It’s been an incredible collective effort. Right across the country we’ve heard inspiring stories of generosity from our customers, employees and communities working together. I’d like to thank everyone for supporting the fundraising efforts for drought-affected farmers.”

To ensure funds get to where they are needed most, Australian Red Cross will, as a first step, distribute the money as grants through the Country Women’s Associations of NSW and Queensland. Those impacted by the drought can apply for assistance from the organisations via the relevant websites.

Along with the fundraising efforts, CBA is supporting farmers and other commercial businesses in drought-stricken areas with a wide ranging package of assistance measures and the introduction of a credit adjustment for customers with eligible Farm Management Deposits and business loans, and a hold on default interest rates on business term loans for customers in financial difficulty caused by the drought.

*updated 29 October 2018