DALLAS, March 24, 2020 /PRNewswire/ -- Comerica Bank
and Comerica Charitable Foundation announced today that it will
invest $4 million in community
programming support and businesses impacted by the COVID-19
crisis.
"The impact of COVID-19 on the nonprofit organizations that care
for and provide critical services to our communities is
extraordinary. Serving and supporting our communities during this
unique time in history is of critical importance," said
Curt Farmer, Chairman and CEO,
Comerica Incorporated and Comerica Bank.
These funds will be primarily deployed to Community Development
Financial Institutions to support strategic programs designed to
meet the needs of small and micro businesses that have been
impacted by COVID-19. Community service organizations that provide
services to youth, seniors and other vulnerable populations also
will receive funds as part of this effort, particularly those
organizations addressing food insecurities and access to health
care. We also are expediting $500,000
of planned funding to several local United Way organizations in our
markets.
In addition to these contributions, Comerica is discussing
various loan payment deferral and fee waiver options with its
business customers who have been impacted by COVID-19. And, for our
personal customers experiencing financial difficulty as a result of
COVID-19, we are asking that they contact us to discuss fee and
penalty waivers, loan deferrals and other considerations that best
meet their circumstances. Comerica customers can call (888)
444-9876 to discuss their unique situations.
"Comerica is a relationship bank. Partnering with our customers
and helping them navigate these difficult times is why we are
here," said Farmer. "For more than 170 years we have supported our
customers through the hardships of world wars, the Great
Depression, the Great Recession and many other monumental
challenges, and we will continue to do so."
Comerica Incorporated (NYSE: CMA) is a financial services
company headquartered in Dallas,
Texas, and strategically aligned by three business segments:
The Business Bank, The Retail Bank, and Wealth Management. Comerica
focuses on relationships, and helping people and businesses be
successful. In addition to Texas,
Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in
several other states, as well as in Canada and Mexico. Comerica reported total assets
of $73 billion at Dec.31, 2019, and celebrated its 170th
anniversary in August 2019.
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SOURCE Comerica Bank