The Citi Foundation today announced it has donated $1 million to the American Red Cross to help the organization with relief and recovery efforts in the aftermath of Hurricane Sandy. The $1 million contribution is in addition to the Citi Foundation’s annual $500,000 grant to the Red Cross to support its Annual Disaster Giving Program. Citi is also providing financial recovery solutions for customers affected by the storm including providing access to cash and waiving select fees. Citi CEO Michael Corbat said: “We are grateful for the first responders who have put themselves at risk to protect life and property, and our hearts go out to the victims of this storm. As we shift our focus to relief and recovery efforts, we are doing everything we can to assist our customers and help our communities recover.” To assist customers affected by the storm, Citi is providing the following assistance through at least November 5, 2012:
Non sufficient funds;
Late payment for credit products;
Wiring funds to affected Citi customers; and
Early CD withdrawal for recovery use.
In the event customers do not see an immediate credit, it will be applied to their next statement. Recognizing that it is important during this time to have easy access to cash, Citi also will refund fees on the use of ATMs outside its network. Citi encourages clients with questions or concerns to contact customer service and we will help them with their individual needs. Customer service contact information can be found at www.citibank.com or on Twitter via the @AskCiti handle. Regarding the institutional businesses, although Citi’s sales, trading and investment banking operations in New York City are based in an evacuation zone, Citi is prepared for the re-opening of the markets and will utilize its back-up locations to ensure continuity of operations until its staff can return to its lower Manhattan offices.