VANCOUVER, June 20, 2014 /CNW/ - HSBC Bank Canada is joining forces with
two proven partners and substantially increasing its support for
education programs for Indigenous youth. Building on its existing
scholarship programs for Indigenous peoples, the bank's increased
funding is resulting in a total of $1m in new programs to be delivered
by Indspire and Pathways to Education Canada. Specifically designed to
enable more youth to successfully complete high school and make the
transition to post-secondary education, the new HSBC programs are
expected to assist nearly 500 youth in 2014 alone.
Consistent with its global commitment to education, HSBC Bank Canada is
contributing $300,000 over three years to Indspire to create the HSBC Indigenous Business Award - with a federal government match bringing the total investment to
$600,000 - and $400,000 over three years to Pathways to Education
Canada to establish the Pathways HSBC Indigenous Educational Attainment Fund.
These new programs directly address the challenge of access to education
among Indigenous youth: in 2011 less than 50 per cent of Indigenous
youth in Canada graduated from high school - compared to 80 per cent of
non-Indigenous Canadians; and while 27 per cent of non-Indigenous
students go on to university, only 10 per cent of Indigenous students
will acquire a university education. Research conducted by Indspire
shows that lack of financial resources is the number one barrier for
Indigenous students in completing their post-secondary education.
Paulo Maia, President and Chief Executive Officer, and Executive Sponsor
of HSBC's Indigenous Canadian Employee Resource Group, HSBC Bank
Canada, said: "HSBC currently offers six permanently endowed awards for
Indigenous students at colleges and universities across Canada — but we
want to do more. Through our commitment to Indspire and Pathways to
Education Canada, we aim to help Indigenous youth achieve their full
potential, as well as provide opportunities for our employees to
connect with Indigenous communities."
The HSBC Indigenous Business Award will be granted to 188 Indigenous undergraduate students studying
business at post-secondary institutions across Canada over the next
Roberta Jamieson, President and CEO of Indspire, said: "We are thrilled
that HSBC is demonstrating their support of Indigenous education in
Canada with such a strong commitment to Indspire. This award will give
many Indigenous business students the financial support they need to
complete their studies, be well positioned for the job market, and
contribute to Canada's economy."
The Pathways HSBC Indigenous Educational Attainment Fund will support the delivery of the Pathways program tailored to Indigenous
youth to more than 400 students per year. The program will work
alongside local school systems, providing after-school tutoring,
mentoring and financial assistance to address the barriers that can
stand in the way of high school graduation; and employees of HSBC will
work directly with students at mentorship and career planning events.
Vivian Prokop, President and CEO of Pathways to Education Canada, said:
"HSBC's commitment to making a real and lasting difference in the lives
of Indigenous youth is truly a long-term investment in building
communities. This program recognizes the unique challenges our students
face and provides the skills that youth need to succeed both in and out
of the classroom."
Earlier this year, HSBC Bank Canada launched an Indigenous Canadian
Employee Resource Group to raise awareness and support Indigenous
employees and programs.
Added Maia: "The launch of the Indigenous Canadian Employee Resource
Group is a significant milestone for HSBC. Our vision is to embed
diversity into every aspect of our culture by establishing a workplace
free of conscious or unconscious bias, where all employees have an
equal opportunity to succeed based on their unique skills and
HSBC's employee resource groups facilitate open discussion of workplace
issues, provide a learning forum, and foster an environment that
supports diversity and inclusion. The eight employee resource groups at
HSBC include: the Asia Pacific Islanders Committee, the Hispanic Latin
Diversity Committee, the Indigenous Canadian Employee Resource Group,
the Pride Network, the People with DisAbilities Committee, the South
Asian Network for Diversity and Inclusion, the Women's Network, and
Notes to editors:
Photo will be available Friday afternoon PST on June 20 via CNW
About HSBC Bank Canada
HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading
international bank in Canada. The HSBC Group serves customers worldwide
from over 6,300 offices in over 75 countries and territories in Europe,
Asia, North and Latin America, and the Middle East and North Africa.
With assets of US$2,758bn at 31 March 2014, HSBC is one of the world's
largest banking and financial services organizations.
Indspire is an Indigenous-led registered charity that invests in the
education of Indigenous people for the long term benefit of these
individuals, their families and communities, and Canada. With the
support of its funding partners, Indspire disburses financial awards,
delivers programs, and shares resources with the goal of closing the
gap in Indigenous education. Through the Indspire Institute, it conducts research and provides support for community-driven
solutions to improve kindergarten to grade 12 success for Indigenous
youth. Since its inception in 1985, Indspire has disbursed over $65
million through more than 20,000 scholarships and bursaries to
Indigenous students, making it the largest funder of Indigenous
education outside the federal government. Each year, the charity
presents the Indspire Awards, a gala celebration of the successes achieved by Indigenous people that
is broadcast nationally. For more information, please visit indspire.ca.
About Pathways to Education Canada
Pathways to Education Canada is a charitable organization that helps
youth in low-income communities graduate high school and successfully
transition into post-secondary education or training. Pathways
addresses systemic barriers to education by providing leadership,
expertise and a community-based program proven to lower dropout rates.
Founded in 2001, Pathways operates in 16 communities across Canada,
with programs in Ontario, Quebec, Nova Scotia and Manitoba. Pathways
was recently recognized with a 2013 World Innovation Summit for
Education award (WISE) from the Qatar Foundation for its innovative and
effective work in education.
SOURCE: HSBC Bank Canada
For further information:
Media enquiries to:
Sharon Wilks 416-868-3878
Aurora Bonin 604-641-1905