ELLIOT LAKE, ONTARIO -- (Marketwire) -- 07/04/12 -- BMO Financial Group today announced it will be donating $10,000 to help provide assistance to people who have lost their jobs and businesses that have been displaced as a result of the collapse of the Algo Centre Mall in Elliot Lake.
"We were heartbroken to see the devastation at the mall, and to see so many lives altered by this tragedy," said Lloyd Fleming, Vice President, BMO Bank of Montreal. "We want to provide support to those in the community who have been most affected by this disaster; we hope that our contribution will help alleviate some of the difficulties they face."
The donation will be provided to the Elliot Lake & District Chamber of Commerce, which has joined with the City of Elliot Lake and community members to provide immediate assistance to those who are without jobs and businesses which have had to cease operations because of the collapse.
BMO's donation follows its announcement last week of a relief program for its customers affected by the collapse. The program includes:
-- Personal loan payments deferrals - various options. -- Personal mortgages - deferral of the principal and interest payments for a period of two months. -- Special accommodations for affected commercial clients - developed on a case-by-case basis.
For assistance, BMO Bank of Montreal customers are invited to visit the BMO branch at 17 Mary Walk in Elliot Lake.
Furthermore, anyone who wishes to make a donation to assist those affected by the collapse may do so at any BMO Bank of Montreal branch across Canada; the account number for donations is 8996 667 at Transit # 2404.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $525 billion as at April 30, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.