Unique program includes tuition grant for four years and summer
internships for six years
TORONTO, Sept. 13, 2011 /CNW/ - CIBC (CM: TSX) (CM: NYSE) announced today that eleven Ontario Grade 10
students have won CIBC YouthvisionTM Scholarships, valued at up to $36,000 each. The recipients are:
Nosazemen Sasha Agbontaen
Fatima Dyanara Abam
Stoney Creek, ON
Stoney Creek, ON
St. Catharines, ON
CIBC YouthvisionTM targets high-potential young people who might not otherwise have the
opportunity to pursue a university or college education by supporting
them as they complete high school and in funding their post-secondary
education. To be eligible, Grade 10 students must be enrolled in a
mentoring program with Big Brothers Big Sisters of Canada or the YMCA.
"On behalf of CIBC, I congratulate this year's scholarship recipients
and wish them every success as they work to achieve their academic
goals," said Gerry McCaughey, CIBC's President and Chief Executive
Officer. "Education is so important for the economic prosperity of all
Canadians and we are pleased our Youthvision scholarships have been
able to help close to 400 young people on their path to college or
Each year, CIBC commits more than $1 million to make post-secondary
education dreams a reality for 30 CIBC Youthvision Scholarship
recipients, helping to break the cycle of poverty in their family. Now
in its 13th year, this one-of-a-kind program has already helped 360 students.
Scholarship winners receive six summer internships through the YMCA
that begin right after Grade 10 and a $4,000 annual contribution
towards tuition for four years.
They also receive ongoing mentoring from either Big Brothers Big Sisters
of Canada or the YMCA until they graduate from their post-secondary
education. In addition to the scholarships, each of these students will
take part in CIBC Money Smarts for Students Seminar helping them shape
their financial futures as they prepare to head off to college or
"The CIBC Youthvision Scholarship is one of the most unique programs in
Canada because it is not based solely on academic achievement," said
Bruce MacDonald, President & CEO of Big Brothers Big Sister of Canada.
"The selection process looks at the whole student - whether they have a
mentor, the role they play in their family, the volunteer work they do
- in addition to the potential for acceptance into post-secondary
education. By awarding intern positions and scholarships while in grade
10, CIBC helps build self-esteem, and gives these students the
incentive and financial support to really believe they can go to
college or university.
"Without the support of CIBC Youthvision Scholarships hundreds of kids
would not have been able to attend university and realize their full
potential," says MacDonald. "By adding the Money Smarts program to the
awards this year, the bank is teaching these kids how to set a budget,
manage their money and properly pay their bills at a formative age.
This provides an additional avenue of support not only to the child but
their entire family."
YouthvisionTM Alumnus Jennifer Atwell, now a 25-year-old, University of Western
Ontario graduate and Big Brother Big Sister of Toronto employee offers
advice for the new recipients.
"Try to take in what a great gift this is. There are a lot of
scholarships out there, but this one is amazing because it pays a
portion of tuition and includes a paid internship. The work helped me
build a resume and get a job faster. Take advantage of the opportunity
being given to you. It will change your life."
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 Canadian Breast
Cancer Foundation CIBC Run for the Cure, the CIBC Children's Foundation
and United Way, we are investing in the social and economic development
of communities across the country. In 2010, CIBC group of companies
contributed approximately $34 million to charitable and non-profit
initiatives in Canada to support national, regional and local
organizations. To learn more, visit www.cibc.com
For further information:
For more information and to interview the scholarship winner, Big Brother Big Sister representative, or CIBC representative, please contact:
Kevin Dove, Senior Director, External Communications & Media Relations
firstname.lastname@example.org | T 416-980-8835 | C 416 670 4956