TORONTO, Sept. 26, 2022 /CNW/ - CIBC announced today it is donating $250,000 to support disaster relief efforts in Nova Scotia, Prince Edward Island, New Brunswick, Newfoundland and Labrador, and Quebec's Magdalen Islands, following the devastation of Hurricane Fiona, which has displaced and left hundreds of thousands without electricity and impacted critical infrastructure.
"The destruction caused by Hurricane Fiona this past weekend is unprecedented and has left hundreds of thousands of our fellow Canadians in urgent need of support," said Laura Dottori-Attanasio, Group Head, Personal and Business Banking, CIBC. "We stand with the communities of Atlantic Canada and Eastern Quebec as they work through these difficult circumstances, and join our clients and team members in supporting immediate recovery efforts."
The donation includes $150,000 to the Canadian Red Cross in response to their appeal, and $100,000 for immediate distribution to local charities to directly support impacted communities as they begin their rebuilding efforts.
In addition, CIBC is making available financial relief, advice, and support to affected clients across Atlantic Canada and Eastern Quebec including the following:
- Re-amortizing mortgages to lower payments
- Special payment arrangements and deferrals on loans and lines of credit
- Conversion of Aventura® points into cash payment for applicable credit cards
- Debt consolidation for more manageable payments
CIBC is encouraging all clients impacted by these recent events and in need of flexible financial arrangements to call 1-888-997-0929 to speak with a CIBC team member.
CIBC invites Canadians to help those in need by donating to the Canadian Red Cross. Monies raised will enable them to provide critical emergency assistance in response to this disaster, as well as related and future disasters.
CIBC is also accepting public donations to the CIBC Foundation Atlantic Canada Relief Fund, which will help support multiple local organizations with providing relief, recovery and resiliency activities across Atlantic Canada and Eastern Quebec.
CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. Through the CIBC Foundation and the genuinely caring culture of Team CIBC, we are committed to helping people and our communities make their ambitions a reality. Learn more about our community impact. Ongoing news releases and more information about CIBC can be found at https://www.cibc.com/en/about-cibc/media-centre.html.