The CIBC has taken steps to care for our community and their own during the COVID-19 pandemic. Closer to home, Community General Managers, Jacqueline McGowan and Luisa Toscano, have been on hand serving clients above and beyond the call of duty. Both of these West Island women can be found contributing on a regular basis. Today, their focus is on their clients who are reeling from the financial stress and confusion they are experiencing.
“We recognize that our senior clients and persons with disabilities may have a harder time getting to their local banking centre, and we’re enacting these new measures to give them a dedicated time to manage their banking as well as serve them quickly during regular business hours,” said Laura Dottori-Attanasio, Senior Executive Vice-President and Group Head, Personal and Business Banking, CIBC. “Our local teams have deep relationships with our clients in their community, and these additional measures are meant to make it easier for these clients to keep up with their banking needs.”
In March the CIBC topped up their charitable donations by $750,000.
“Charities and community organizations are literally a lifeline for many of our friends and neighbours in a time like this. We have allocated our corporate donation to the causes that are essential right now to ensure we stay strong together,” added Ms. Sharman.
Banking employees are considered essential service workers at this time and risk the safety of their families when they head to work each day.
“We are incredibly proud of our team who are providing a vital service to our clients with professionalism and purpose,” said Sandy Sharman, Senior Executive Vice-President of People, Culture and Brand. “Introducing additional relief for team members who need to be at work to help clients, and adding flexibility with more paid time off will help our team take care of our clients and take care of themselves as we work through this challenging period together.”
As the impacts of COVID-19 continue to be felt across our communities, CIBC (TSX: CM) (NYSE: CM) today announced further proactive measures to help clients, team members, and community organizations.
Specific measures include:
- Recognizing that seniors represent one of their most vulnerable communities, CIBC is opening banking centres 30 minutes early at 9:30am for seniors on select dates. Persons with disabilities are also welcome to visit their banking centres during this time.
- During other business hours, if a senior or a person with a disability visits the banking centre between 10am and 4pm, they have instituted a “you’re next” policy, meaning that they will proactively serve them by inviting these clients out of line and addressing their needs with the next available team member so that they can get their needs addressed quickly and safely.
For their team:
- Team members will receive a $50 per diem for every day they are required to work onsite to perform their role, including client-facing roles and key operations support roles to maintain service levels for Canadians. This per diem is applicable to part-time or full-time team members and recognizes the critical role they play in serving clients every day.
- All team members across CIBC are eligible for up to 10 additional paid days off to help manage the impact of COVID-19, including being there for family members and taking care of themselves during this challenging time.
For the Communities:
Recognizing the vital work done by charities to support our local communities, and the urgent need to help these organizations at a time when normal fundraising activities are disrupted, CIBC announced $750,000 in charitable contributions last week. In response to the urgent need for aid, to be distributed to the following organizations:
- Community Food Centres Canada and their ‘Good Food Access Fund’ which will give vulnerable individuals including seniors access to take-away meal programs. This enables them to quickly purchase food and supplies;
- United Way to help supply seniors, impacted communities and those unable to leave their homes with critical resources they need during this time;
- Kids Help Phone which will enhance their capabilities, enabling them to meet the surge in demand for their services, which are largely due to increased calls about navigating school closures, uncertainty about the future, family stress and social isolation;
- Canadian Blood Services as the critical need for blood continues, and in an effort to address a recent spike in appointment cancellations in several cities related to the COVID-19 pandemic;
- World Health Organization which delivers resources and international aid to frontline workers and affected countries.
CIBC is a leading Canadian-based global financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.