CIBC says that re-amortizing of mortgages is also an option and that special arrangements are available for credit card bills and loans. The lender is reversing service fees and some other charges.
"We want everyone to stay safe and know that the last thing you need to worry about right now is your finances," says Mike Stevenson, Senior Vice-President and Region Head, British Columbia and Northern Territories, CIBC. "Our team has put a financial relief program in place to help you get you through this difficult time."
Two of CIBC’s banking centres - Williams Lake and 100 Mile House – have been closed due to evacuation and the bank is monitoring some others.
More market update:
Special mortgage payment arrangements are available for homeowners in British Columbia affected by the wildfires.