Unique program includes tuition grant for four years and summer internships for six years

WINNIPEG, Sept. 13, 2011 /CNW/ - CIBC (TSX:CM) (NYSE:CM) announced today that seven Manitoba Grade 10 students have won CIBC Youthvision^TM Scholarships, valued at up to $36,000 each. The recipients are:

CIBC Youthvision^TM 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 university."

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 13^th 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 to help them shape their financial futures as they prepare to head off to college or university.

"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."

Youthvision^TM 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