#United States #Los Angeles #Disaster Recovery #BMO Wildfire Fund

BMO Wildfire Recovery Fund Embraces Los Angeles Disaster Relief

In a significant move to address community needs, BMO Financial Group has announced the launch of the BMO Wildfire Recovery Fund, which is now open for applications. This initiative comes in response to the devastating wildfires that swept through the Los Angeles area earlier this year, causing substantial loss and disruption. The new fund, totaling $3 million, specifically aims to support local individuals, families, and communities as they navigate the recovery process.

Focus Areas of the Fund

BMO has strategically directed its funding to benefit eligible nonprofit organizations focused on critical aid areas. These initiatives include:

1. Supporting Personal Recovery

The first pillar of the recovery fund focuses on helping individuals and families, particularly emphasizing small business owners and homeowners. The funding is intended to assist with:

• - Services for navigating the recovery process's administrative requirements, ensuring clarity and support for those in need.
• - Community engagement sessions with local agencies that build trust and provide vital information for recovery.
• - Mental health support services aimed at individuals affected by trauma due to the wildfires.

2. Community Rebuilding Efforts

The second aspect of the fund encompasses broader community recovery efforts, targeting essential needs such as:

• - Tackling food insecurity and ensuring access to shelter and healthcare.
• - Rebuilding vital community infrastructure, which includes essential public spaces like parks and community centers that foster community ties.
• - Initiatives focusing on community safety, preparedness, and cleanup to enhance the resilience of affected neighborhoods.

Commitment to Community Support

Halé Behzadi, Vice Chair of BMO U.S., expressed deep empathy for those who suffered due to the wildfires. He stated, "The wildfires earlier this year caused heartbreaking devastation, with homes and businesses lost and lives changed. BMO is a proud member of the Los Angeles community, and we're committed to supporting our impacted neighbors and neighborhoods – we're in it for the long-term with them."

This sentiment is echoed by Michele Havens, Head of U.S. Private Wealth at BMO, who shared a personal connection to the disaster, noting, "As someone who lost their home in the wildfire, I know firsthand how emotional and complex the recovery process can be. This fund is more than financial support; it reflects BMO's deep commitment to standing alongside Californians every step of the way."

BMO's efforts are part of a broader commitment to community giving, having previously allocated over $21 million to nonprofit organizations statewide. The bank is also incentivizing its employees to engage in support initiatives through volunteering and donations, demonstrating a comprehensive approach to community rebuilding.

Application Process

Local nonprofit organizations serving the impacted areas of Los Angeles County are encouraged to apply for this funding via the BMO grants portal. Grant awards will begin at $25,000 and will be granted based on the organization's alignment with the fund’s focus areas, the scope of services provided, and the demonstrated community need.

A Future-Oriented Vision

By focusing on these critical areas of recovery, BMO aims not only to address immediate needs but also to foster long-term resilience in the recovery process. Their goal is to ensure that communities can rebuild and thrive beyond the devastation of natural disasters.

In alignment with their mission, BMO strives to "Boldly Grow the Good" in public and corporate life while emphasizing the importance of giving back to the communities they serve. With over $80 million directed towards community progress in 2024, inclusive of extensive employee-driven donations, BMO is solidifying its role as a key player in community recovery and support.

For more information regarding the BMO Wildfire Recovery Fund, access the BMO grants portal at BMO’s official website.