CIBC increases Ukrainian aid donation to $500,000 and adds support for those resettling in Canada

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CIBC increases Ukrainian aid donation to $500,000 and adds support for those resettling in Canada

CIBC increases Ukrainian aid donation to $500,000 and adds support for those resettling in Canada

Canada NewsWire

TORONTO, March 21, 2022

TORONTO, March 21, 2022 /CNW/ - CIBC today announced that it is furthering its support for Ukrainians by increasing its financial contribution to a total of $500,000 for humanitarian relief efforts in Ukraine and enhancing support for the immediate needs of refugees seeking to resettle in Canada, including housing, food, clothing, employment and other necessities.

"Ukrainians desperately need our help during this time of crisis, both those who are at risk as a result of the situation in Ukraine, and those who are resettling in Canada with their families," said Victor Dodig, President and CEO of CIBC. "The global community has opened their hearts and homes to the innocent people fleeing Ukraine and our bank is committed to providing real help to them both today and over the long term."

As in other crisis situations involving Syrian and Afghan refugees, CIBC is providing both financial and on the ground support:

Financial Support:

  • A total of $500,000 in financial support, including a newly announced $300,000 contribution to organizations assisting with resettlement efforts in Canada. These organizations include:

  • Accepting public donations through the CIBC Foundation to support Ukrainians in need.

  • Offering free banking, pre-approved credit cards and waived fees on other services for Ukrainians resettling in Canada.

  • Waiving fees for wire transfers to Ukraine.

  • Providing an operating line of credit to Ukrainian World Congress and Ukrainian World Foundation to help them manage financing needs.

  • Additionally, Team CIBC employees have personally donated approximately $100,000 to organizations providing humanitarian aid.

Resettlement Support for Refugees:

Beyond financial support, CIBC is focused on helping Ukrainians who are leaving the country to resettle in Canada and is partnering with various organizations to provide:

  • Welcome kits upon arrival to Canada.

  • Sharing CIBC employment opportunities and offering virtual career fairs.

  • Support for Ukrainian families with children requiring critical medical treatments by partnering with Meagan's Hug and The Hospital for Sick Children (SickKids) in Toronto.

"We're working closely with our local community partners to provide the support they need as they work to meet the immediate needs of Ukrainians both at home and abroad," added Mr. Dodig.

About CIBC

CIBC is a leading North American financial institution with 11 million personal banking, business, public sector and institutional clients. Across Personal and Small 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/ca/media-centre.

SOURCE CIBC