News Releases

In response to this summer's heavy rainfall and devastating floods in northeastern and central Saskatchewan, BMO Bank of Montreal today launched a Financial Flood Relief Program for its customers who have been impacted by the disaster.

Under the BMO Bank of Montreal Flood Relief Program BMO customers can apply for: 

1)  deferred principal payments

2)  interest rate relief on operating loans

3)  a waiver of new loan application or renewal fees

The relief program is specifically designed for farm producers affected by the flooding and those in related industries who will see their cash-flow impeded in the coming months given their dependence on a productive agriculture industry. The program will run until on October 31, 2007, giving producers suitable time to market a portion of next year's crop.  Approved customers must be currently in good standing.

“BMO has a long history of standing behind its customers, through good times and bad, and we want to help our agricultural customers handle this unfortunate situation,” said Ken Segboer, Vice President, Saskatchewan, BMO Bank of Montreal.  “We invite our customers to visit a local BMO branch to discuss their particular financial needs and to take advantage of this program,” added Segboer.

BMO Bank of Montreal branches closest to the impacted area are located in Tisdale, Prince Albert, Nipawin, and Yorkton. 

Segboer, a former Senior Manager, Agriculture, with BMO said, “I understand the setbacks that farmers and woodlot owners may suffer through this natural disaster.   After personally touring the Tisdale area in late June, I knew we had to do something to assist the agricultural community.  BMO is committed to working closely with our customers to help alleviate some of the issues facing their operations.”

Since its founding in 1817 as Bank of Montreal, BMO Financial Group has supported the principles of community reinvestment and corporate and social responsibility to the communities it serves. In 2005, BMO Financial Group contributed $29.5 million in corporate donations, sponsorships and events in Canada, supporting thousands of communities, charities and not-for-profit organizations across the country. BMO Financial Group continues to be recognized for its leadership in corporate social responsibility. 

In 2006, and for the fourth consecutive year, BMO Financial Group has been ranked among the top 10 Best Corporate Citizens in Canada by Corporate Knights Magazine – the only financial institution to be ranked amongst the top ten in each of the last four years.  BMO Bank of Montreal has 29 branches, two northern outlets and more than 350 employees in Saskatchewan.

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