Program helps Grade 10 students realize their dreams with post-secondary
scholarships, work experience and mentoring
TORONTO, Feb. 21 /CNW/ - <a href="http://www.cibc.com/ca/about.html">CIBC</a> (CM: TSX; NYSE) today announced an
additional $2.8 million for its <a href="http://www.cibc.com/ca/inside-cibc/cibc-your-community/donations/youthvision/youthvision-scholarship.html">CIBC Youthvision(TM) Scholarship Program</a> to
continue helping young Canadians who may not otherwise have the opportunity to
get a post-secondary education and achieve their full potential. This new
commitment brings the total investment in this education program to more than
$10 million since its inception in 1999.
Through a unique partnership with Big Brothers Big Sisters of Canada and
YMCA Canada, the program annually awards 30 scholarships valued at up to
$34,000 each to Grade 10 students who are enrolled in mentoring programs with
Big Brothers Big Sisters of Canada or YMCA Canada. In addition to tuition
support, recipients also participate in summer internships at YMCA across
Canada after completing Grade 11.
"Since the CIBC Youthvision Scholarship program was created, we have
awarded scholarships to 270 Grade 10 students," said Gerry McCaughey,
President and Chief Executive Officer of CIBC. "This program provides teens
with the opportunity to build strong futures. It is part of our commitment to
investing in the education, development and growth of Canada's youth."
"The CIBC Youthvision Scholarship was essential to my future," said Ryan
Kirkland, a case worker and mentor with Big Brothers Big Sisters of Winnipeg.
"Without it, I either wouldn't have gone to university or I would have had to
get numerous loans. This gave me the opportunity to graduate with no debt and
to get a job I love. It has set the groundwork for my life."
"We see the difference the <a href="http://www.cibc.com/ca/inside-cibc/cibc-your-community/donations/youthvision/youthvision-scholarship.html">CIBC Youthvision Scholarship Program</a> is having
on the lives of these young people who have so much potential," said Michael
Weil, President and Chief Executive Officer of YMCA Canada. "The YMCA summer
internship gives scholarship recipients the chance to develop new skills, try
different types of work and test their potential career paths each summer for
up to five years after Grade 11. This gives them valuable on-the-job
experience and the chance to form a stronger sense of their likes, dislikes,
aptitudes and preferences."
"For us, it's been a great fit," said Bruce MacDonald, President and CEO
of Big Brothers Big Sisters of Canada. "Teens will go through turbulent times.
That's when kids are starting not to think of post-secondary education.
Offering both financial support and mentorship to potential post-secondary
students while they are still in high school is extremely effective. For some
families, this is the first time anyone has gone to university."
To be eligible, a Grade 10 student must be enrolled in a mentor program
with Big Brothers Big Sisters of Canada or YMCA Canada, have a minimum
academic standing of 60 per cent in the year of application, and be a citizen
or permanent resident of Canada. Recipients must also maintain their
eligibility by successfully completing high school, keeping a good
disciplinary standing, and remaining in a mentorship program with Big Brothers
Big Sisters of Canada or YMCA Canada.
CIBC is committed to supporting causes that matter to our clients, our
employees and our communities. We aim to make a difference in communities
through corporate donations, sponsorships and the volunteer spirit of
employees. With a strategic focus on youth, education and health, and employee
commitment to causes including the <a href="https://www.cibcrunforthecure.com/html/en/about.asp">Canadian Breast Cancer Foundation CIBC Run</a>
<a href="https://www.cibcrunforthecure.com/html/en/about.asp">for the Cure</a>, United Way and the <a href="http://www.cibcwmmiracleday.com">CIBC World Markets Children's Miracle</a>
<a href="http://www.cibcwmmiracleday.com">Foundation</a>, we are investing in the social and economic development of
communities across the country. In 2007, CIBC group of companies contributed
more than $36 million worldwide to charitable organizations and community
initiatives. Of this, $27 million was invested in Canada to support national,
regional and local organizations. In 2007, CIBC's ongoing multi-year
commitments to universities and colleges across Canada totalled nearly
$18 million. Of this, more than $6 million was directed to bursaries and
scholarships to enable students to pursue post-secondary education. To learn
more, visit www.cibc.com/pas.
For further information:
For further information: To arrange to speak with past recipients of the
CIBC Youthvision Scholarship Program, contact Doug Maybee, Director, External
Communications and Media Relations, CIBC, Tel: (416) 980-7458,