City National pledges $2M to COVID efforts in bank's 'single largest donation ever'

LAS VEGAS — City National Bank announced recently it will donate $2 million to help communities, clients and colleagues in need due to the COVID-19 pandemic.

“In this time of crisis, we must all work together to support our communities, colleagues and clients as they face the challenges of the global pandemic,” City National Bank CEO Kelly Coffey said in a statement. “Our donations are in addition to the work we are doing with our clients to support them through this crisis. As a country, we are resilient, and I know we will get through this.”

According to a press release, the $2 million will be used for programs serving the immediate needs of those most affected by the pandemic across several states the bank serves (including Nevada), in addition to the United Way in eight communities and across other endeavors.

A portion of the funds will go toward the creation of the City National Bank Colleague Relief Fund, which will “provide assistance for City National colleagues facing severe financial hardships” due to the pandemic, according to the bank.

“It is only fitting during this unprecedented time that City National Bank steps up to uphold our proud 66-year tradition of supporting our colleagues and clients in need and so many worthwhile organizations in the communities where we live and work,” said

City National Chairman Russell Goldsmith said it marks the bank's “single largest donation ever” in order to help healthcare providers fight the virus and to address humanitarian needs.

The bank's parent company, Royal Bank of Canada (RBC), previously announced an initial $2 million donation to support communities dealing with the repercussions of the global health challenges posed by COVID-19.

Donations will be used for programs serving at-risk populations, addressing food insecurity, scaling mental well-being support access as well as providing other necessary services that are vital during challenging times like these.

Go to cnb.com/covid-19-preparedness.html to learn more.