Bank launches a Reconciliation Action Committee and closes centres in Indigenous communities in honour of the day
TORONTO, June 21, 2021 /CNW/ - Today CIBC recognizes National Indigenous Peoples Day, acknowledging the unique heritage, diverse cultures and outstanding contributions of First Nations, Inuit and Métis peoples and furthers its commitment toward making progress on reconciliation.
CIBC understands that reconciliation requires acknowledging the history and present-day barriers faced by Indigenous peoples in Canada, including systemic racism and the continued impact of the residential school system. CIBC has formally launched a Reconciliation Action Committee to build a framework with clear and measurable commitments that will accelerate progress while responding to Call to Action #92 of the Truth and Reconciliation Commission of Canada.
"Indigenous peoples in Canada continue to experience systemic racism and intergenerational trauma. We are committed to creating an environment that fosters true reconciliation and economic sustainability for Indigenous communities," said Jaimie Lickers, Vice President of Indigenous Markets, CIBC. "We remain dedicated to supporting the next generation of Indigenous leaders and changemakers through investments and active engagement in communities across Canada."
CIBC has also closed 18 banking centres located in or near Indigenous communities to honour the day. Employees are being encouraged to participate in local community events virtually and learn about what they can do to promote reconciliation.
Other actions CIBC has taken to promote inclusion and reconciliation include:
- Committing more than $1.8M in funding annually to organizations supporting Indigenous communities, including scholarships and the CIBC STEM Learning Fund with Connected North supporting 100 schools serving 20,000+ First Nations, Métis and Inuit youth.
- Designing a Gord Downie & Chanie Wenjack Fund (DWF) Legacy Space at its new global headquarters, CIBC Square, in partnership with the Indigenous Design Studio/Brook McIlroy Architects.
- Implementing a talent goal that at least two per cent of all external hires are Indigenous peoples, which the bank exceeded in 2020 with support from partnerships such as Indspire and Our Children's Medicine through HigherMe.
- Growing the CIBC Indigenous Employee Circle to provide support and career development resources for First Nations, Métis and Inuit team members.
- Partnering with the Canadian Council for Aboriginal Business (CCAB) and Canadian Aboriginal Minority Supplier Council (CAMSC) to connect with Indigenous suppliers.
- Delivery of financial education sessions to support capacity building and financial fluency of Indigenous leaders and youth across Canada.
- Providing tailored financial services to First Nations, Inuit and Métis clients and communities through a dedicated Indigenous Markets Team.
CIBC is a leading Canadian-based global financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.