News
What we are doing during the Covid -19 Outbreak
Since the outbreak of a deadly disease, COVID-19, Cooperative Bank of Oromia has been undertaking various measures and hugely contributed to the efforts being made to combat its spread nationwide. Among many, inter alia,
Donation and Awareness Creation
- Donated ETB 5 million to the national committee established to combat COVID-19 via Ministry of Health.
- Donated ETB 3 million to the Oromia Regional State to help combat the virus.
- Temporarily gave its buildings to Oromia Regional State in Nekemte and Kuyu towns for this purpose to be used if the pandemic gets out of control.
- Created awareness on several media about the virus to the general public and all branches of the bank have been engaged on the awareness creation activities.
Employees of the Bank
- Procured and distributed to its branches and work units 26,000 facemasks that worth more than 3 Million and more than 4000 litres of sanitizer and alcohols worth about ETB 1 Million.
- Arranged a shift service for its staff so that only few people can stay at work units while others be at home.
- Provided different kinds of leave arrangement for its Staff:
- Paid Leave
- Advance Leave
- Vulnerability Leave – For pregnant women as well as employees who have compromised immunity.
- In the process of arranging Transportation services for the Staff living in Addis Ababa and major towns all over the country.
- Employees of the bank across the country are supporting the prevention activities in their respective localities both financially and voluntarily.
Preparations at branches
- Prepared hand washing materials and water at the gate of all the 416 branches of the bank.
- Enforced physical distancing of customers as they come to the branches to avoid the risk of infection to our customers.
Fees and Interest Rates
- Waived all fees from digital banking platforms including; ATMs, Coopay (Mobile Banking)
- Waived LC extension fees;
- Reduced Interest Rates, especially to the sectors largely hit by the pandemic. Interest rate reduction up to 4% has been made on the following sectors;
- Cooperatives
- Domestic Trade Service
- The Hotel Industry
- Manufacturing
- Agriculture
- Merchandise
- Vehicle Loan
- Building and Construction, Machinery
- Import
- Personal Loans/Mortgages
