New relationship supports free access to cultural and outdoor experiences for newcomers, plus financial tools and resources

TORONTO, Aug. 23, 2023 /CNW/ - Each year, thousands of new residents arrive in Canada with a shared ambition of calling it home. To help newcomers learn about their new country and navigate settling in, CIBC announced today a partnership with the Institute of Canadian Citizenship (ICC), a national charity that supports newcomers on their journey towards full and active citizenship.

ICC's digital app, Canoo, provides more than 200,000 newcomers with free access to over 1,400 of Canada's best cultural experiences and nature attractions, enabling them to explore Canada.

With today's announcement, Canoo members will have access to CIBC's financial tools, advice and resources to help set up their finances in an easy way along with exclusive offers on everyday banking products and investing services.

"We know that moving to a new country can be overwhelming," said Jeff Smith, Senior Vice-President, Client Segmentation and Franchising, CIBC. "With rising costs and the need to settle in, exploring Canada isn't always possible for newcomers. This new partnership highlights the exciting experiences that our country provides and complements what our bank offers to help new residents easily access banking services."

In addition to thousands of free and discounted culture and nature experiences, Canoo members can also access mentorship, skills development, and volunteering opportunities to help accelerate their integration into Canadian work and life.

"The ICC is thrilled to be sharing this exclusive offer from CIBC with Canoo members," said Daniel Bernhard, CEO, ICC. "CIBC shares our vision of supporting newcomers – Canada's future – and their ability to one day support Canada. We're honoured to have found such a sincere partner who shares our belief that Canada succeeds when newcomers succeed."

This partnership builds on CIBC's Newcomer program, which offers a number of solutions and useful tools to help new Canadians, such as:

• Free day-to-day banking for two years through a CIBC Smart™ Account for Newcomers and Foreign Workers;
• No annual fee for two years on select CIBC credit cards;
• Ease of applying for credit cards without being required to provide credit history;
• Exclusive program with TELUS that enables clients to open a bank account and set up a mobile phone at the same time, available through select branches;
• Educational content to support financial literacy;
• CIBC Smart Planner™, a self-serve financial goal setting and budgeting tool that offers personalized advice.

"CIBC continues to support newcomers from around the world who are looking to call Canada home. We're proud to help make that ambition a reality for our clients," added Mr. Smith.

CIBC is a leading North American financial institution with 13 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, with offices in the United States and around the world. Ongoing news releases and more information about CIBC can be found at https://cibc.mediaroom.com/.

The Institute for Canadian Citizenship (ICC) works to unlock Canada for newcomers, facilitating and encouraging the journey towards full and active Canadian citizenship. The ICC is an independent charity, co-founded in 2006 by the Rt. Hon. Adrienne Clarkson and John Ralston Saul.

SOURCE CIBC