Rabobank announces support for Earthquake Relief Fund

Rabobank New Zealand will donate $100,000 to support earthquake relief to assist with recovery from the devastating Christchurch earthquake.

Rabobank general manager New Zealand Ben Russell said the bank was donating the funds to the Salvation Army Canterbury Earthquake Appeal.

“The Salvation Army is conducting a range of short and medium-term relief activities, including meals and accommodation for affected people, counselling services and distribution of care packages to many households, and we fully support its wonderful work at this difficult time for the community,” he said.

Mr Russell said the farming community in the area had not escaped the force of the disaster.

Rabobank regional manager Northern South Island Don Kennedy said the bank’s team had made contact with most of its rural and business customers in the worst-affected areas.

“While most appear to have escaped serious damage to their business operations, the bank is more than willing to adopt flexible and supportive measures to assist clients who experience financial hardship as a result of the earthquake,” he said.

This includes, but is not limited to, full payment of interest for any broken term deposits (both for RaboDirect and for other deposits with Rabobank).

Mr Kennedy said Rabobank would work on a case-by-case basis with affected clients to support them through this disaster.

“While it’s too early to establish the full extent and impact of the quake and its aftershocks, there has undoubtedly been significant effect on the rural area, particularly west of Christchurch along and near the newly-developed fault line,” he said.

“Apart from the problems caused by the loss of power, there has also been damage to farm homesteads, milking sheds, grain silos and wells plus possible damage to underground irrigation infrastructure.”

Mr Kennedy urged any clients impacted by the disaster – who had not already been reached by the bank – to contact their local account manager so Rabobank could assist with any support required.

ENDS

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