TORONTO, June 19, 2019 /CNW/ - Youth mentorship has been given a tremendous boost thanks to a transformational $3.1 million donation by Scotiabank to Big Brothers Big Sisters of Canada.
Hundreds of thousands of young people across Canada are growing up in vulnerable situations including poverty, family instability, or identity-based discrimination. To add to this, it is estimated that at least 15,000 young people are waiting for a Big Brothers Big Sisters mentor. This donation will enable life-changing mentoring relationships that ignite youth potential through guidance, support and role modeling.
"The presence of one caring adult can make all the difference in a young person's life," says W. Matthew Chater, National President & CEO, Big Brothers Big Sisters of Canada. "Research shows that one-to-one mentoring has a Social Return on Investment* of $23-to-1 when it comes to the long-term economic, health, and social outcomes for youth in the most vulnerable situations. With this proven intervention, Scotiabank's donation will have an extraordinary impact on young Canadians."
The donation by Scotiabank will accelerate one-to-one mentoring relationships, directly changing the lives of hundreds of youth and their families in communities across Canada. The donation will also build the capacity for youth mentorship through support for volunteer recruitment and impact measurement initiatives.
"Big Brothers Big Sisters charities are among the leaders in this country when it comes to delivering one-to-one mentorship opportunities for young people in vulnerable situations," says Jacquie Ryan, Vice President, Social Enterprise and Sustainable Business at Scotiabank. "We recognize what is possible when young people have the guidance, confidence and tools they need to achieve their dreams. Scotiabank is confident that our $3.1 million donation to Big Brothers Big Sisters is a long-term investment that will help young people across Canada reach their infinite potential."
* To assess the economic benefits of Big Brothers Big Sisters programs, The Boston Consulting Group completed a study that compared the outcomes of children who participated in community one-to-one programs with those that did not.
About Big Brothers Big Sisters of Canada
Big Brothers Big Sisters provides one-on-one and group mentoring services for more than 40,000 children and youth in 1,100 communities across Canada. Many young people face adversities in their lives, resulting in toxic stress that can negatively impact their development. With the support of a mentor, young people can overcome these adversities and develop the confidence to reach their full potential. Our mentors are adults who create a positive developmental relationship with a young person, providing guidance, support, and constructive role modelling. Learn more about Big Brothers Big Sisters of Canada here.
At Scotiabank, we aim to support organizations that are committed to helping young people reach their infinite potential. Young people are our future leaders and Scotiabank's goal is to help ensure that they have the necessary skills and resources they need to support their success. Together with our employees, the Bank supports causes at a grassroots level. Recognized as a leader for our charitable donations and philanthropic activities, in 2018, Scotiabank contributed more than $80 million to help our communities around the world.
Scotiabank is Canada's international bank and a leading financial services provider in the Americas. We are dedicated to helping our more than 25 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 99,000 employees and assets of over $1 trillion (as at April 30, 2019), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.
SOURCE Big Brothers Big Sisters of Canada
For further information: Julia Lo for Big Brothers Big Sisters of Canada, Office: 905-639-0461 ext. 47; Erin Truax for Scotiabank, Cell: 416-578-9659, Email: [email protected]