As temporary foreign workers begin new jobs in Canada, Scotiabank helps them
StartRight financially

- Over 150,000 temporary foreign workers enter Canada yearly to help address skill shortages

CALGARY, April 29 /CNW/ - As one of the top five destinations for temporary foreign workers coming to Canada, Calgary was the scene of today's launch of the Scotiabank StartRight(TM) Program for Foreign Workers. The program is a comprehensive banking package designed specifically to meet the financial needs of temporary foreign workers who are either planning to come to Canada or have recently arrived. According to Citizenship and Immigration Canada, more than 150,000 temporary foreign workers enter Canada each year from more than 110 source countries around the globe including the United States, Mexico, the Philippines, India and China.

"As Canada's most international bank with operations in some 50 countries, Scotiabank has a unique perspective on the needs of temporary foreign workers as they make the transition to live and work in Canada," said Rania Llewellyn, Vice-President of Multicultural Banking at Scotiabank. "At Scotiabank, we recognize the contribution made by temporary foreign workers to the Canadian economy and cultural mosaic, and have launched a complete financial package to help them start right."

The Scotiabank StartRight Program for Foreign Workers is a natural extension of the Scotiabank StartRight Program for Newcomers launched in 2008 to meet the banking needs of landed immigrants, international students and immigrant investors. The Scotiabank StartRight Program for Foreign Workers offers a range of financial solutions in one convenient package tailored to meet the banking needs of foreign workers, including:

    
        -  Establishing free Scotiabank day-to-day banking for one year;
        -  Sending money worldwide quickly and reliably with Western Union
           Money Transfer Services;
        -  Securing valuables with a free Safety Deposit Box;
        -  Building a credit history with a No-Fee Scotia Moneyback(R) Visa
           credit card; and
        -  Purchasing a home in Canada with a mortgage designed to the needs
           of temporary residents.
    

Ms. Llewellyn also highlighted the Scotiabank StartRight Auto Loan Program introduced earlier this month, which provides auto financing solutions to new immigrants and foreign workers. The program is initially available through all Canadian new vehicle franchise dealerships.

"When new immigrants and foreign workers first arrive in Canada, buying a car is a major purchase for many," said Ron Porter, Senior Vice President, Automotive Finance & Indirect Lending, Scotiabank. "The Scotiabank StartRight Auto Loan Program, a first of its kind in Canada from an automotive financing provider, is designed to provide financing to help them obtain a new vehicle, which is often necessary for work."

For more information on the Scotiabank StartRight Program please visit your nearest Scotiabank branch, our website www.startright.scotiabank.com or call us at 1-866-800-5159.

Scotiabank continues to build on its solid foundation of serving Canada's multicultural communities with a dedicated Multicultural Banking division. Following the launch of the Scotiabank StartRight(TM) Program for Newcomers in 2008, the Multicultural Banking group launched a series of innovative partnerships and initiatives designed to offer unique opportunities for newcomers to Canada. As Canada's most international bank with a presence in some 50 countries around the world, Scotiabank understands the unique needs of Canada's multicultural communities. For more information on Multicultural Banking please visit www.startright.scotiabank.com.

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With close to 68,000 employees, Scotiabank Group and its affiliates serve approximately 14.6 million customers in some 50 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With more than $507 billion in assets (as at January 31, 2010), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

SOURCE Scotiabank

For further information: For further information: Michelle Cobb, Scotiabank Public Affairs, (778) 327-5451 or michelle.cobb@scotiabank.com


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