BMO Expands Employee Benefits for Canadian Military Reservists and their Families

TORONTO, Sept. 19, 2023 /CNW/ - As the Official Bank of the Canadian Defence Community, BMO has announced expanded benefits for its employees who are members of the Canadian military community and their families. Effective October 1, 2023, these BMO employees will be eligible for a Military Leave Top-Up as a Military Reservist and Military Family Leave where an employee has a family member who is a Military Reservist.

BMO's expanded Military Leave Top-Up ensures that employees' income is not affected when they need to be away for military training or service. It includes top-ups of up to eight weeks for training and up to 52 weeks for all operational domestic and international deployments, including domestic deployment protecting Canadians from natural disasters. The Military Family Leave guarantees up to 30 days of job-protected, unpaid leave for BMO employees with family members who are Reservists that need to attend training and deployment.

"BMO is proud to expand our benefit offerings to strengthen our position as the Official Bank of the Canadian Defence Community and put us in a leading position among Canadian banks," said Vanessa Lewerentz, Chief Inclusion Officer, BMO. "Building a diverse and inclusive workplace that is reflective of the communities we serve is fundamental to our Purpose, to Boldly Grow the Good in business and life." 

"Managing and coordinating time away from work can be stressful for Reservists and their families because of the responsibilities they're juggling to serve our country," said Juron Grant-Kinnear, Canadian Armed Forces Reserve member and Assistant Corporate Secretary and Lead, Legal Services, BMO. "This enhanced policy gives me and my fellow reservists greater financial peace of mind, especially during periods of extended military leave."

As the Official Bank of the Canadian Defence Community, BMO is proud to support the military community. Additional initiatives include: 

• BMO has partnered with the Canadian Forces Morale and Welfare Services to offer banking solutions for the Canadian Defence Community.
• Sponsor of the Canada Army Run since 2008, RCAF Run and Navy Bike Ride, with BMO employees volunteering in support of activation.
• Serving over 100,000 members of the Canadian Defence Community as of August 2023, meeting the bank's target of doubling this customer segment two years early
• Approximately 90 Canadian Defence Community Branches, serving customers in approximately 33 military bases and units across Canada
• Special discounts and banking benefits for Canadian Personal & Business Banking clients, helping BMO customers save more than $16.8 million in monthly plan fees in 2022.
• With the BMO Support Our Troops Mastercard, a portion of each transaction made goes to the official charitable cause of the Canadian Armed Forces, Support Our Troops. BMO Support Our Troops Mastercard recently hit $1 million in donations.
• Veterans Advisory Council employee resource group supporting colleagues who are reservists, veterans or military spouses.
• Military-friendly hiring page on https://jobs.bmo.com/ca/en/military/
• In 2021, BMO announced a $150,000 donation in support of Last Post Fund, Veterans' House Canada and Wounded Warriors Canada.

For more information on how BMO is supporting the Canadian Defence Community please visit www.bmo.com/cdcb.

About BMO

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.25 trillion as of July 31, 2023. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to over 13 million customers across Canada, the United States, and in select markets globally. Driven by a single Purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.

SOURCE BMO Financial Group

Media Contact: Kate Simandl, Toronto, [email protected], [phone]