News Releases

BMO Financial Group and BMO Employee Charitable Foundation today announced a joint contribution of $30,000 to help the Canadian Red Cross in its relief efforts for flood victims in New Brunswick. In addition, BMO launched a Flood Relief Program for its customers who have suffered damage or loss of income resulting from the floods.

“We want to assist our customers and residents of the communities that were impacted by the Saint John River flooding, and we hope that these initiatives will help alleviate the difficulties being faced by flood victims and the affected communities,” said Carolyn Booth, Vice-President, New Brunswick & PEI, 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,” added Mrs. Booth.

The BMO Bank of Montreal Flood Relief Program includes:

• Personal loan payments deferrals – various options.
• Mortgages – waiver of the principal and interest payments for a period of two months.
• Lines of credit payment deferrals for up to two months.
• Pre-approved mortgage rate guarantee period extended from 90 days to 150 days.
• Special accommodations for commercial and agricultural clients affected by the flooding are being developed on a case by case basis.

BMO Bank of Montreal customers are invited to visit their local branch and to speak to a financial services manager about their particular financial needs resulting from the floods.

“All BMO branches across the country are also accepting donations from Canadians wanting to support the Red Cross Flood Appeal,” noted Mrs. Booth.

BMO Financial Group is providing a $25,000 contribution to the Canadian Red Cross to assist with its relief effort and the BMO Employee Charitable Foundation is contributing an additional $5,000 amount.

Since 1817, BMO Financial Group has believed in community reinvestment and corporate and social responsibility to the communities it serves. BMO contributed more than $5 million in community investment, through donations and sponsorships, in Atlantic Canada in 2007.

BMO Employee Charitable Foundation improves the lives of those in need by supporting thousands of registered charities in Canada through the generous support of the employees, pensioned employees, customers and friends of BMO Financial Group. During its 2007 national fundraising campaign, the BMO Employee Charitable Foundation raised more than $8 million across Canada, and the Foundation is able to disburse one hundred per cent of the monies raised to local charities across the country, as BMO Financial Group covers all administrative costs.

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