Children's Aid Foundation one of more than 140 charities globally
receiving a significant contribution from HSBC's global 150th
anniversary US$150m community fund
TORONTO, Sept. 10, 2015 /CNW/ - The Children's Aid Foundation announced
today that the new HSBC National Transformation Project will provide a
comprehensive range of needs-based educational support to 3,000 current
and former youth in care in and around Vancouver, Calgary, Edmonton,
Toronto and Montreal over the next three years (2015-17).
The Foundation will receive a significant amount of support from HSBC's
global US$150m community fund, marking a major milestone in the
Foundation's $60 million National Campaign for Child Welfare.
Valerie McMurtry, President and Chief Executive Officer, Children's Aid
Foundation said: "The numbers are staggering: Only 30% of young people involved in the
child welfare system graduated high school last year, compared to 88%
of youth not in care. Through the targeted provision of
emergency-funding, counselling, tutoring and scholarships, the HSBC
National Transformation Project aims to significantly improve high
school graduation and post-secondary enrollment rates amongst young
people who are involved in Canada's child welfare system."
The HSBC National Transformation Project will:
Support a range of elementary and high school-completion programs across
Canada, providing program spots for 2,000 youth in care.
Fund 273 Children's Aid Foundation scholarships and bursaries for youth
ages 16 to 25.
Expand the unique, needs-based HSBC Youth Opportunity Fund beyond
Toronto, to Vancouver, Calgary, Edmonton and Montreal. In addition, the
number of awards granted will nearly triple from 33 in 2014, to 95 a
year by 2017. Funds can be used for costs not traditionally covered by
awards and scholarships, such as entrance exam fees, specialized
career-related courses, or the cost of travelling to a program
Provide urgent, needs-based funding to more than 500 youth ages six to
25 across Canada to address issues impacting their academic success.
For example, to help cover the cost of rent and household expenses, or
medical expenses like eye glasses or dental procedures.
Jason Henderson, Executive Vice President, Global Banking and Markets,
Managing Director, HSBC Bank Canada and HSBC Executive Sponsor of the
Children's Aid Foundation said: "HSBC and the Children's Aid Foundation share the belief that education
is a building block of healthy communities, and that access to quality
educational programming can help young people reach their full
potential. From elementary through post-secondary school, the HSBC
National Transformation Project takes a 'wraparound' approach to
helping youth in care realize and reach their full potential."
To mark its 150th anniversary this year, HSBC will grant US$150m over
the next three years (2015-17) to more than 140 selected local
charities from around the world. This funding is in addition to the
regular annual charitable contributions made by the bank. Last fall
HSBC employees voted to decide what charitable themes the US$150m
community fund should focus on, and the top themes selected by Canadian
employees included education, the environment and children's health.
For more information, visit: www.hsbc.com/150-community-fund
About the Children's Aid Foundation: The Children's Aid Foundation's National Campaign for Child Welfare
aims to raise $60 million over five years to change the lives of
thousands of children and youth for the better. The Children's Aid
Foundation is Canada's leading national charity dedicated to improving
the lives of children and youth in the child welfare system. With the
support of generous corporate, foundation and individual donors, we
have been helping children reach their potential against all odds since
1979. Join us and help some of the most vulnerable kids in Canada
overcome traumas of the past and rebuild stability, self-worth and a
sense of life's possibilities. Learn more at www.cafdn.org
About HSBC Bank Canada: HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading
international bank in the country. We help companies and individuals
across Canada to do business and manage their finances internationally
through three global business lines: Commercial Banking, Global Banking
and Markets, and Retail Banking and Wealth Management. Canada is a
priority market for the HSBC Group - one of the world's largest banking
and financial services groups with assets of US$2,572bn at 30 June
2015. Linked by advanced technology, HSBC serves customers worldwide
through an international network of around 6,100 offices in 72
countries and territories in Europe, Asia, North and Latin America, and
the Middle East and North Africa.
SOURCE Children's Aid Foundation
For further information:
Lisa Lipkin Communications for the Children's Aid Foundation
Senior Manager, Media Relations
HSBC Bank Canada