LOS ANGELES, Nov. 2, 2012 (GLOBE NEWSWIRE) -- City National Bank announced today that it will contribute up to $100,000 to the American Red Cross, Habitat for Humanity and the nonprofit Mayor's Fund to Advance New York City to help victims of Hurricane Sandy.
In addition to pledging an initial contribution of $50,000, City National will match as much as $50,000 in donations from its colleagues.
"On behalf of everyone at City National, we want to add to the enormous support for relief efforts for victims of this devastating hurricane on the East Coast, and especially those in New York City," said City National Bank's Chairman and Chief Executive Officer Russell Goldsmith. "In addition, our efforts will facilitate the ability of colleagues who generously want to contribute to the ongoing relief efforts. Our hearts go out to the people who were injured, to those who lost their homes, and to the families of those who lost their lives in this terrible storm."
In addition, due to the severity of Hurricane Sandy and its potential impact on clients, City National Bank is waiving or crediting certain fees for clients in storm-affected areas for a period of at least 30 days.
- City National is reversing late fees on consumer and certain small business loans, including mortgage, home equity, auto and Small Business Administration loans. Fee reversals will apply to transactions from October 29 through the end of the November account statement period.
- For commercial and personal credit cards, City National is reversing late fees, finance charges, over limit fees, cash advance fees and interest on cash advances from October 29 through the end of the November account statement period.
- For deposit accounts, City National is waiving monthly account maintenance charges from November 1 through November 30 for accounts incurring such charges.
- City National does not assess fees for using non-City National Bank ATMs to clients in storm-impacted areas, and clients can be assured that this practice will continue.
- Any City National client enrolled in City National Rewards® may donate all or some of their Rewards Points to the American Red Cross Disaster Relief. To donate, visit www.cnbrewards.com
- City National is committed to making every effort to ensure that late payments on loans and credit cards do not adversely affect clients' credit ratings.
Clients can discuss their financial options by contacting City National Bank at (800) 773-7100 or their Relationship Managers.
City National has offered banking services in New York City for nearly a decade through its branch on Park Avenue. The bank expects to open two more offices in New York next year.
About City National
City National Bank is the wholly owned subsidiary of City National Corporation (NYSE:CYN). It is backed by $26.3 billion in total assets, and provides banking, investment and trust services through 78 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta. The company and its investment affiliates manage or administer $56.7 billion in client investment assets, including $38.0 billion under direct management.
The City National Bank logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3143
CONTACT: Media Contact: Debora Vrana, City National Bank, 213.673.7631 Debora.Vrana@cnb.com
Source:City National Bank