BMO Bank of Montreal today launched a flood relief program for its customers in southern Alberta who have suffered damage or loss of income resulting from the recent floods.
“At BMO, we want to help our customers cope with this disaster and make their lives easier during these stressful times,” says Susan Brown, vp, Calgary, BMO Bank of Montreal.
“We’ve always stood behind our customers, through good times and bad, and we are ready to assist qualifying BMO customers by deferring payments on their loans, mortgages or lines of credit.”
The bank’s flood relief program includes:
- personal loan payments deferrals;
- a two-month waiver on the principal and interest payments of mortgages;
- lines of credit payment deferrals for up to two months;
- pre-approved mortgage rate guarantee period extended from 90 days to 150 days; and
- special accommodations for commercial and agricultural clients affected by the flooding are being developed on a case by case basis.
Bank customers are invited to visit their local branch by August 31 to speak to a financial services manager about their particular financial needs resulting from the floods.
This bank’s program comes in the wake of BMO’s $31,000 contribution to the Canadian Red Cross Provincial Disaster Response Team; BMO Financial Group donated $25,000 and $6,000 came from BMO Fountain of Hope, the employees’ charitable foundation.