Commonwealth Bank

The Commonwealth Bank was founded through the Commonwealth Bank Act over a century ago. They started their operations in 1912, with the sole purpose of offering both savings options as well as general banking and personal loans. 

Since their inception, they’ve managed to grow their shareholders up to 800 000 and over 50 000 people working for the group. They, now more than ever, can offer their clients a host of financial services to assist Australians in the management of their finances and building their financial portfolios.

Commonwealth Bank values

Within any institution, defining a core set of values and beliefs gives the business meaning. They’ve defined five values which are applicable to all employees and their managers. These values consist of

#1 Integrity

Within, integrity, they encourage their employees to speak openly and to express their ideas and concerns. Trustworthiness plays a large part as you want to ensure there isn't any dishonesty within the company. As a management in any of the branches, action should be taken when issues are raised.

#2 Accountability

They ensure everyone is aware of what is expected of them. Clear expectations are set, and management has the ability to guide their teams.

#3 Collaboration

They ensure there is a sense of collaboration amongst employees and that everyone is working towards the same goals. By doing this, they’ve got the flexibility to make the right decisions in a timely manner.

#4 Excellence

Management within each branch leads the business as if it were their own business. They aim to drive their employees so they’re able to reach their full potential.

#5 Service

All employees have been trained to be able to provide clarity on balancing different stakeholders and their varying interests including debt consolidation loans and financial hardship. By setting high service standards, they’re able to train their teams to best practice.

Staying on top of your finances has never been easier thanks to them. They’ve put together a division of efficient people who’re able to assist you with any financial support you may need.

They’ve developed a budget planner and monthly savings account to assist you in getting your finances in order. If you feel the need to get a consolidation loan, their team reviews all requests within seven days of receiving them.

How they can assist you

Once they’ve gone through the requests, you’ll receive a written response outlining the conditions of their assistance and what they’re able to do based on the information provided. In order for them to assist you to get on top of managing your finances, one of their professionals will work with you to gain a deeper understanding of your financial situation.

Once this has been completed, they can assist you in putting together a desirable repayment plan to ensure all your payments are met in a timely manner.

What they can assist you with

Everyone has different financial obligations, making it more important for them to treat each case individually. They are, however, able to assist with a wide variety of financial areas, including:

• A structured plan to reduce your payments for a predetermined time frame
• Getting your short-term loans extended
• Consolidating your debt to allow restructuring
• Assistance with the refinancing of debt
• Reduction or exemption from certain fees or charges

Other services

There are a few other aspects of financial assistance they can provide input on. Sometimes, facing financial troubles is something unexpected and not planned. These events can vary from:

• Not being able to work due to prolonged illness
• The loss of a loved one
• Divorce or separation
• Violence in the family
• Natural disasters within the area where you live
• Your business facing unplanned downtime