A message from President & CEO, Chris Fowler
We are indeed facing a challenging period in our history with the emergence of COVID-19, an oil price war creating volatile markets and an uncertain economy. Going into a long weekend, and toward what will perhaps soon start to feel like our new normal, I want our people and our clients to continue to know that we’ve got your back.
You may not know that CWB was founded during a period of economic uncertainty 35 years ago. It was a period when the short-term economic outlook made it difficult for business owners to obtain the financing they needed to thrive. We supported business owners then and have grown along with them since. Our support is so much more than just saying we’re there for you: we’ve taken significant steps to keep our employees safe and engaged, and we’re actively talking to our clients to about what they need now and in the medium-term, too. Actions speak louder than words, and we’re so proud every time a client thanks us for getting them some much-needed financial relief quickly, or when one of our people reminds us that their flexible work arrangement means they can continue to work despite issues with childcare.
Early in March, we put plans in place to ensure a high level of banking access and support continues to be available to meet your needs despite the disruption we all face. With our core value of putting People First firmly in mind, these plans focus on maintain our ability to continue to deliver high-quality, personalized full service, now remotely. Many of you will have heard from our people, checking in to make sure the financial services we provide are working in this challenging time.
We are – and will continue to be – open for business. The Canadian banking system is stronger than ever, and so is CWB Financial Group. The moves we have made over the last several years have us on stronger footing than ever before, ready to weather this storm with you. Our balance sheet is stronger, more diversified and very strongly capitalized. We have diversified our funding sources, which remain deep and stable. We have made significant technology investments that allow us to support you no matter where in Canada you live. We are well positioned and prepared to support you, your family and your business through this challenging time.
If you’re facing financial hardship as a result of COVID-19, I ask that you let us support you. We’ve put a program in place to offer financial relief, and are sharing valuable information that business owners can learn from to manage through these uncertain times. This, combined with programs put in place by the federal government, will help you navigate the next few months. I encourage you to find the most recent information about CWB and how we’re supporting our people and our clients on our website and our social media channels.
I wish you and your loved ones well during this tough time, and sincerely hope you have a chance to connect with family and friends (by video!) this long weekend. Please remember that we’re in this together, and we continue to have your back.