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 interview.
- 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