BMO has announced its support for customers and communities in Los Angeles affected by the recent wildfires. The bank is backing the American Red Cross with an annual corporate donation to aid ongoing relief efforts and has provided funding to Direct Relief, a local nonprofit, to support its resilient power program in California. BMO is also offering disaster relief options for customers impacted by these events.
"Our thoughts are with everyone affected by the devastating wildfires in Los Angeles," said Darrel Hackett, CEO of BMO U.S. "BMO is committed to providing expedited support to help our customers, colleagues and the communities we serve through this difficult time."
Individuals interested in supporting relief efforts can contribute through the American Red Cross or Direct Relief.
For impacted BMO personal banking customers, temporary financial relief includes waiving monthly maintenance fees, non-BMO ATM transaction fees, and overdraft fees. Payment due dates for mortgages, loans, lines of credit, or reduced credit card payment amounts will be extended. Additionally, low-interest rate loans are available to qualified consumers within the affected areas.
Current BMO business loan customers needing assistance are encouraged to contact their banker. More details on financial relief can be found on BMO's website.
BMO has a history of supporting humanitarian and emergency relief efforts both in the U.S. and internationally and will continue monitoring the situation.
BMO Financial Group ranks as North America's eighth-largest bank by assets, totaling $1.41 trillion as of October 31, 2024. With over 200 years of service, BMO provides a wide range of banking services to 13 million customers across Canada, the United States, and select global markets.