www.rebuildslavelake.com - The Latest - Blog

Wednesday, May 18, 2011

Banks Stepping Up, and Some Stepping Down

Stepping Up
We now have a Slave Lake Relief Fund Account through Scotia Bank..You can go to any Scotia Bank across Canada and make a donation the account name is Slave Lake relief fund, I will try to get on the BC news to pass this out and encourage everyone to spread this, post it make it happen so we can rebuild Slave Lake, any questions I can be reached at 780-805-0654

ATB Financial, Alberta's biggest financial institution, announced today that it will support customers affected by the massive Slave Lake wildfire by deferring payments on their loans for a year.

The major new deferral program is available starting today to any ATB customer in Slave Lake whose home was destroyed or damaged in the fire, whose business was affected, or who lost their job as a result of the disaster.
"Our hearts go out to everyone in Slave Lake. It's a devastating time for them, but ATB knows firsthand about Albertans' spirits and characters and we know they'll work hard to get back on their feet," said Chuck McConnell, an ATB vice-president whose north region includes Slave Lake. "We hope people in Slave Lake see this both as a gesture of support, and something tangible that gives our customers some flexibility and understanding as they rebuild their lives,"

The residential mortgage deferral program automatically applies to those whose homes were damaged or destroyed, but ATB will offer the same flexibility to customers who determine they could use the relief even though their properties weren't hit by the fire, McConnell said.

"This disaster touched everyone in Slave Lake. It's a major regional economic centre, and it'll affect everyone to different degrees. Some of our customers might not have lost their homes or their jobs, but perhaps they'll feel different effects as the community rebuilds. We want to be there for them, too, as we're there for all Albertans regardless of busts or booms, good times or bad."

ATB has more than 500 customers with loans in Slave Lake. Though its Slave Lake branch was not burned in the fire, ATB doesn't yet know whether the branch was damaged or when it'll reopen. In the interim, Slave Lake customers who want to discuss the new deferral program can call a special number at ATB's Customer Contact Centre at 1-888-404-4646.

For their other banking needs, Slave Lake customers can use the regular Contact Centre number (1-800-332-8383) or any of ATB's branches or agencies, including branches in Westlock and Athabasca, where many of the fire evacuees gathered.

ATB's 15 branch staff in Slave Lake are all safe and accounted for, and ATB is helping all with financial support. ATB has also made a donation through the Canadian Red Cross to help our friends and neighbours in Slave Lake and encourages associates and customers to do the same.

Stepping Down
We've had reports of evacuees and those who have lost everything getting nowhere and NO sympathy at all from the following companies.... ouch! Shame on you folks!

Firstline http://www.firstline.com/


  1. Actually its not Chrysler Canada its a separate company called Chrysler Financial, and they are no longer doing new loans but are in still in the process of winding up old loans as part of the bankruptcy reorganization. I had a heck of time with them during the recession. However they do have the option to defer a single payment to the end of the contract of which they did for me on a couple of occassions.

  2. Can't see your list... Not impressed that big banks wouldn't give people a break, many of their livelihoods are gone as well as their homes, come on now...

  3. it's first line...


  4. Careful here! This sounds nice but if they are just deferring the interest payments to after the year the bank will make (a lot) more money than if there had been no fire. Be sure to ask whether they are forgiving or deferring the interest. Then ask them what the total bill will be for the additional interest if you have to defer for a year.

    Because of your circumstances, of course, you may have to decide to defer your payments and it's nice that they are altering the terms of the contract to allow it. But it would feel much more like a gift and much less like predatory lending if they are forgiving the interest, too.

  5. i personally called the number at ATB and they are whole-heartedly FORGIVING the interest! you could have called yourself before posting something like that. Tsk, Tsk!

  6. Jennifer - If you have a look, we have ATB under "Stepping Up" - giving kudos to them

  7. Thank you for calling the banks on this Jennifer. I am out of country or I would have kept up with this research myself. Since I couldn't make the calls I thought it would be best if everyone was just aware of the question to ask. Hats off to ATB! I hope that everyone being aware of it it will pressure RBC into doing the right thing.

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  9. Actually, ATB is not forgiving the interest. As for RBC, I understand that they are also deferring payments for up to one year and they have also sent staff to Athabasca to provide banking services. They also donated $25,000.00 to Red Cross. I would say that is stepping up! Way to go RBC, you still have my loyalty!