As part of the banking industry’s ongoing response to the most devastating wildfires in California history, the American Bankers Association announced today that it will donate a total of $45,000 to three different funds created by California banks to help those impacted by the fires including bank employees. The ABA donations were made after a review of banks directly impacted by the recent wildfires and after consulting with the Western Bankers Association/California Bankers Association.
“The fires may be contained, but the devastation caused by the California wildfires continues,” said ABA President and CEO Rob Nichols. “With our contributions, we are joining banks in California and across the country in doing what we can to help fire victims, including banking colleagues, who have lost everything. We urge banks, bankers and bank customers everywhere to consider donating to these funds or other ongoing relief efforts in the state.”
The ABA has chosen to contribute $15,000 to each of the following funds established by California banks:
- Tri Counties Bank Funds. This Chico-based bank is in the heart of the fire zone, and the homes of at least 35 employees were completely destroyed. In response, the bank launched the TCB Employee Disaster Relief Fund which will specifically assist the employees of Tri Counties Bank directly affected by the Camp Fire. In addition, Tri Counties set up the Camp Fire Fund 2018, providing an initial deposit of $25,000 to benefit fire victims in the area around Paradise, California, that has now grown to $1.7 million.
- Golden Valley Bank’s Camp Fire Relief Efforts. This Chico-based bank also serves the communities most directly impacted by the Camp fire, and at least five employees lost their homes in the blaze. In the aftermath of the fire, the bank quickly stepped up to create a relief fund to assist victims and contributed an initial $50,000. In an effort to help businesses in the area, the bank set up a primary fund under the Golden Valley Bank Community Foundation and created sub-funds so local organizations could help direct donations to relief efforts. . Bank employees are also temporarily housing people displaced by the disaster.
- Bank of the West California Wildfire Fund. The recent fires affected Bank of the West operations in both Northern and Southern California. Branches in both areas were briefly closed because of the wildfires, and several employees have been impacted by the disaster. In response, the San Francisco-based regional bank established the California Wildfire Fund to support the relief effort across the state. The bank is matching contributions up to $25,000 and donating the funds to the United Way, which is providing relief and ongoing support. Bank of the West will match ABA’s $15,000 donation.
“We are touched by the outpouring of support from banks across the country, other state banking associations and the ABA,” said WBA President and CEO Simone Lagomarsino. “This has been a trying time in California, and we are gratified but not surprised to see the banking industry step up to help us recover from these historic wildfires.”
Banks have helped lead the business community’s response to the California wildfires, with Wells Fargo donating $1.75 million, JPMorgan Chase contributing $1 million and Bank of America donating $350,000 to various relief efforts.
To learn more about the California-based funds or to contribute, please visit the following websites: Tri Counties Bank Employee Disaster Fund; Golden Valley Bank’s Camp Fire Relief Efforts; Bank of the West California Wildfire Fund.
The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend nearly $10 trillion in loans. Learn more at aba.com.