ABA Foundation Accepting Donations to Support L.A. Wildfire Relief Efforts in California, ABA to Contribute $25,000

WASHINGTON -

As first responders continue to fight the devastating wildfires in Los Angeles County, the American Bankers Association Foundation today announced it will begin collecting tax-exempt contributions through its Disaster Relief Program to help aid in emergency relief efforts. At the request of the California Bankers Association, the ABA Foundation will immediately begin accepting donations and all funds will be directed to the American Red Cross Los Angeles Region and the California Community Foundation. In addition, ABA announced that the association will lead the fundraising effort by contributing $25,000.

"Our hearts go out to all those who have suffered from the unimaginable destruction caused by these fires, including members of our banking family," said ABA President and CEO Rob Nichols. "Banks across the country have already stepped up to aid recovery efforts, and we hope that by standing up our Disaster Relief Fund we can make it even easier for others in our industry to provide meaningful financial support."

In total, the Los Angeles County fires have burned more than 40,000 acres, forced more than 150,000 people to flee their homes and killed at least 27 people, according to news reports. A number of banks in the area suffered significant damage to their facilities, and some bank employees have been directly affected by the fires.

"We are grateful for the support of the ABA Foundation and our banking industry colleagues across the country," said California Bankers Association President and CEO Kevin Gould. "While the total damage is not yet known, we do know that too many people have lost everything, including bank employees. Contributions to the ABA Foundation's Disaster Relief Program will help in the effort to rebuild and restore the greater Los Angeles community."

Through the ABA Foundation's Disaster Relief Program, state bankers associations can request ABA Foundation assistance after a presidentially declared disaster in their state. If the request meets certain criteria and is approved by the ABA Foundation Board, the ABA Foundation can solicit donations nationwide on the state association's behalf. The state association is responsible for identifying qualified recipients for all funds raised.

Donations will be accepted until March 7. To donate, visit aba.com/DonateRelief. ABA has also launched a running list of individual institutions stepping up to aid recovery efforts and help customers and communities affected by the wildfires. Banks interested in sharing details on their own efforts should contact ABA's Mike Townsend at [email protected].

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About the American Bankers Association

The American Bankers Association is the voice of the nation's $24.2 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19.1 trillion in deposits and extend $12.6 trillion in loans.

About the ABA Foundation

Through its leadership, partnerships, and national programs, ABA's Community Engagement Foundation (dba ABA Foundation), a 501(c)3, helps bankers provide financial education to individuals at every age, elevate issues around affordable housing and community development, and achieve corporate social responsibility objectives to improve the well-being of their customers and their communities.

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