Stepping Up to Make a Difference

Transcription

Stepping Up to Make a Difference
Public Accountability Statement 2002
Stepping Up to Make a Difference
20
02
D fference
TO VIEW THE ONLINE VERSION GO TO
http://www.cibc.com/pas
Stepping Up
to Make a
Difference
contents
4 Chairman’s Message
7 Corporate Governance
10 Community
13 Corporate donations
14
CIBC Youthvision™
20
30
33
34
36
40
40
44
45
Community support
Employee as Ambassador
Employee initiatives
CIBC Run for the Cure™
CIBC World Markets
Children’s Miracle Day™
United Way and more
Employer of choice
Employment in Canada
Taxes in Canada – fiscal year 2002
46 The Environment
49 Corporate Environmental
Management Program
50 Environmental credit risk management
51 Environmentally responsible procurement
53 Facilities and operations management
53 Donations
56 Employee as Ambassador
Accessible Banking
5862 Affordable
Branches
64 President’s Choice Financial™
66 ABMs
71 Special needs
74 Aboriginal banking
75 CIBC Ombudsman
76 Support for Small Business
83 The future of small business
84 CIBC Small Business Banking
85 New initiatives in 2002
87 Accreditation
88 Donations and sponsorships
John Hunkin, Chairman
and Chief Executive Officer
At CIBC, innovation and
accountability are at the
heart of our core values –
and go beyond delivering
strong financial results to
our shareholders. This
includes being responsible
to our customers,
employees, and the
communities where we
operate. CIBC’s goal is to
make a positive difference
through our actions, from
employee volunteerism and
charitable contributions to
the products and services
that we provide.
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At CIBC, accountability is one of our core
values – and it goes well beyond delivering
strong financial results to our shareholders.
It includes a responsibility to all of our
stakeholders – customers, employees and
communities, as well as shareholders.
CIBC employees pictured on front cover from top left, clockwise:
Robert Gioacchini, Annette Phillips, Clovis Metcalfe, Fanny Ali
CIBC employees pictured above: Hugh Bennet, Subangi Sivathasan
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CIBC chairman and chief executive officer John Hunkin at Commerce Court in Toronto.
At CIBC our mission is clear: To make a positive impact
on the lives of Canadians by offering them superior
financial solutions, while playing a leading role in the
social and economic growth of our communities.
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CHAIRMAN’S MESSAGE
Stepping Up
At CIBC, accountability is our commitment to make a difference
to all stakeholders – to deliver quality and value to customers,
to earn the respect of our employees, to foster strong, healthy
communities, and to work diligently to exceed the expectations
of shareholders.
In 2002, CIBC stepped up its efforts to build a high-performance organization that
delivers sustainable, superior returns by creating long-term value for our customers
and shareholders, by instilling increased employee satisfaction, and strengthening
our commitment to the communities we serve.
As one of Canada’s leading corporations and as a good corporate citizen, our mission is clear: To make a positive impact on the lives of Canadians by offering them
superior financial solutions, while playing a leading role in the social and economic
growth of our communities.
Over the past several years, we have taken the initiative to strengthen our corporate governance system and enhance the policies and procedures that support our
ability to provide shareholders with financial and operational transparency.
Responsible stewardship of the environment is also an important priority. CIBC’s
longstanding environmental policy reflects our commitment to responsible conduct,
both to protect and conserve the environment and to safeguard the interests of
our stakeholders from environmental risk.
In 2002, CIBC became one of two Canadian banks listed on the Dow Jones
Sustainability World Index, which tracks the performance of 300 sustainabilitydriven companies in 64 industry groups in 23 countries around the world.
Affordable Accessible Banking
Banking in the 21st century is changing. Today, our customers want more choice,
more convenience and the freedom to pick the delivery channel that works best
for them – going to a branch, visiting an ABM, picking up the telephone or clicking
a mouse.
Our customers also want a greater selection of affordable banking products and
services to meet their financial needs more effectively. We’ve responded by
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In 2002, CIBC stepped up
its efforts to build a highperformance organization that
delivers sustainable, superior
returns to its stakeholders.
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CHAIRMAN’S MESSAGE
providing a wider choice of Smart Simple Solutions™ to allow customers to weigh
the options and pick the solution that is right for them.
Supporting Small Business
Small businesses across Canada make a vital contribution to this country’s economic growth. In today’s economic environment, conditions for Canadian small
business growth have never been better. Entrepreneurs are taking the Canadian
economy forward and CIBC is behind them, supporting their growth in regional
and national markets, and helping them to establish themselves competitively on
the global stage.
CIBC Small Business Banking serves the interests of our small business customers
by developing and managing innovative banking products and services. In 2002,
CIBC introduced a broad range of initiatives and enhancements to better support
our small business customers – versatile solutions that will save them more time,
so that they can accomplish their goals more effectively.
Supporting Community and Employee Volunteer Activities
Community giving is at the heart of CIBC. Through the volunteer efforts of our
employees and corporate donations, CIBC contributes to Canadian communities
on a national, regional and local level.
Volunteer activities of CIBC employees are an important part of our contribution
to communities. Through our Employee as Ambassador Program, CIBC encourages
community spirit by donating to community organizations where employees
volunteer. We’re also proud to support their significant fundraising efforts, resulting
in millions of dollars for the CIBC Run for the Cure, the CIBC World Markets
Children’s Miracle Day and the United Way.
Stepping Up
CIBC is a strong and vibrant organization with core strengths – innovation, commitment, accountability and resolve – that are evident as we step up to make a
difference to our stakeholders and to contribute in a meaningful way to the enrichment of Canada’s communities.
J.S. Hunkin
Chairman and Chief Executive Officer
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Corporate Governance
Leadership in corporate governance is a journey, not a
destination. At CIBC, strong governance practices are the
defining feature of the Board of Directors and the underlying philosophy of its directors, as well as management.
Good governance requires constant review, continuous
adjustment, proper structure and principled execution.
Recognizing the importance of these obligations for
protecting and enhancing shareholder value in the long
term, the board maintains an effective system of corporate governance to accomplish these objectives.
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CORPORATE GOVERNANCE
Corporate Governance
CIBC(1) constantly monitors, reviews and evaluates its governance
system, and takes the steps necessary to strengthen policies and
practices to make the board more effective and accountable for its
activities. In the last 12 months, the CIBC Board of Directors has:
• Announced the separation of auditing and consulting work.
• Mandated that all non-auditing work be approved by the board’s Audit Committee.
• Instituted a CIBC-wide prohibition on the awarding of any information technology or systems implementation projects to CIBC’s auditing firms, and
• Expensed stock options to provide greater financial transparency to investors.
In addition, the board also initiated an extensive review of the shareholders’ auditors, including the practice of retaining two firms of auditors to express an opinion on the bank’s consolidated financial statements.
As part of that review, the Audit Committee, independently of management but
with management’s assistance, established a review process that included assessing submissions from the four global accounting firms.
Following this process, the Audit Committee unanimously recommended to the
board that one firm – Ernst & Young LLP – be retained to audit CIBC’s 2003
consolidated financial statements. The three auditing firms that were not recommended are now eligible to compete for other consulting engagements with the
bank. This recommendation was approved by the Board of Directors in October.
The former auditors resigned their office in December. Ernst & Young LLP is acting
as CIBC’s auditor until the next annual meeting in February 2003 where their
appointment will be put to the shareholders for a vote.
All of the actions taken in 2002 support CIBC’s board and management’s commitment to provide the bank’s shareholders with enhanced financial and operational
transparency. They also reflect our ongoing determination to manage the organization with a tough, investor-focused mindset, and to do what is necessary to protect and enhance the long-term value of our shareholders’ investments.
A firm belief in the principle of strong corporate governance goes to the very heart
of CIBC. In 1999, a special board task force, convened by incoming chairman and
chief executive officer John Hunkin, made a number of key recommendations for
(1) This statement has been published for CIBC and the following affiliates of CIBC in Canada: Amicus Bank; CIBC
World Markets Inc.; CIBC Mortgage Corporation; CIBC Mortgages Inc.; Services Hypothecaires CIBC Inc.;
CIBC Life Insurance Company Limited; CIBC Trust Corporation; CIBC Securities Inc.; CIBC Investor Services Inc.;
TAL Global Asset Management Inc.; TAL Private Management Ltd.; CIBC Financial Planning Inc. and CIBC
Asset Management Inc. (formerly CM Investment Management Inc.).
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CORPORATE GOVERNANCE
strengthening the bank’s corporate governance system, which is the foundation of
CIBC’s policies and practices. These recommendations included the creation, in
March 2000, of a lead director whose role is to ensure stronger board independence. As well, in 2001, the Board of Directors initiated a formal assessment process
using an external consultant. This resulted in a board governance workplan and
during 2002, a number of changes were made to the board’s strategic and succession planning procedures.
Over the past several years, experience has shown that, while regulations and
guidelines are important and necessary for protecting the interests of shareholders, truly innovative and inspired corporate governance comes from a spirit of
mutual trust and open communication between the Board of Directors and company management. Progress has been made in 2002 to further enhance the bank’s
corporate governance system of policies and practices, and the board’s continued
productive working relationship with the chairman and chief executive officer and
the senior management team.
Fiscal 2002 was clearly a difficult and challenging year. During this period, CIBC’s
Board of Directors worked closely with management and fully supports the
decisive actions taken to reduce capital, realize greater cost savings and lower the
degree of risk. Collectively, these actions focus on improving the bank’s performance
in 2003 and reflect the determination of the board and management to protect
the long-term interests of CIBC shareholders.
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TO VIEW THE ONLINE VERSION GO TO
http://www.cibc.com/pas
Community
Community
Corporate donations
13
The CIBC group of companies contributes to hundreds of national, regional and local
community organizations in Canada.
Employee initiatives
33
CIBC is proud to support the volunteer efforts of employees who raise millions of dollars every
year for their chosen causes.
Employer of choice
40
44
The best companies are those with the best employees. CIBC is always looking for new ways to
attract the best people to join the team.
Employment in Canada
CIBC is one of Canada’s largest employers.
Taxes in Canada
45
In 2002, CIBC paid taxes to all levels of government, including income and capital taxes,
payroll, property and sales taxes.
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The 11th annual CIBC Run for the Cure was the largest ever, breaking last year’s records for the number of participants
and funds raised.
CIBC Run for the Cure is the bank’s biggest employee
fundraising activity and Canada’s premier annual event
dedicated to raising money to fight breast cancer.
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COMMUNITY
Community
At CIBC, accountability means more than delivering solid financial
results to our shareholders. It is a core value and commitment
to respect our customers, employees and the communities that
we serve. The CIBC group of companies is one of Canada’s
leading corporations, with major business operations around
the world with over 42,000 employees, most of them working in
local communities across the country.
Corporate donations
In 2002, the CIBC group of companies contributed more than
$46 million worldwide, including over $23.9 million in Canada,
to hundreds of national, regional and local organizations in
communities from coast to coast to coast. We are proud to work
with our community partners to help make Canada strong.
Together we can and will continue to make a difference.
Supporting youth is a primary focus of our community commitment. Canada’s young
people are its future and CIBC has a strong history of supporting Canadian youth.
Through CIBC Youthvision, the bank contributes to research, educational funding,
mentoring and skills development programs aimed at helping Canadian youth prepare for the future. CIBC Youthvision incorporates all of the bank’s existing youth
initiatives and, in 2002, more than $9 million was committed to these programs.
CIBC’s employees play a vital role in the health and growth of Canadian communities where they live and work. They have a long, proud history of making a difference through volunteerism and giving of their time and expertise for a good cause.
The bank encourages that commitment through the Employee as Ambassador
Program, which donates up to $1,000 per employee to not-for-profit organizations
where employees volunteer their time and effort. In 2002, CIBC donated over
$289,000 to organizations on behalf of employees through this program.
Also, CIBC supports Canada’s communities through in-kind donations to organizations, such as Computers for Schools, a national, federal government-led program,
in co-operation with the private sector, that refurbishes used computers and
donates them to schools and libraries.
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CIBC employees play a vital
role in the health and growth
of Canadian communities
where they live and work.
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COMMUNITY
In addition, CIBC supports the volunteer efforts of employees who raise millions
of dollars annually for their chosen causes through national events, such as
the CIBC Run for the Cure, the CIBC World Markets Children’s Miracle Day, and the
United Way, as well as numerous regional and local activities.
The bank actively works to provide a dynamic, caring and rewarding environment for
its employees. CIBC seeks to recruit the best employees that Canada has to offer, to
establish the bank as the employer of choice in the Canadian financial services industry.
CIBC announces the 2002
CIBC Youthvision Scholarship
Program recipients at a
ceremony held in Toronto.
The CIBC Youthvision
Scholarship Program received
Imagine’s New Spirit of
Community Award for 2002,
one of five initiatives
recognized by the Canadian
Centre for Philanthropy as a
unique partnership between
business and the charitable
sector that provides an innovative approach to meet the
needs of the community.
CIBC Youthvision
CIBC strategically focuses on youth-related initiatives through CIBC Youthvision.
Launched in 1998, it is CIBC’s investment in the education and well-being of
Canada’s young people, in our economy and our future. Through CIBC Youthvision,
millions of dollars are contributed every year to hundreds of organizations to support education, research, mentoring and skills development. The bank is privileged
to work with a wide variety of community partners to help young Canadians fulfill their dreams and reach their potential.
HERE ARE JUST A FEW EXAMPLES OF WHAT CIBC ACHIEVED IN 2002:
CIBC Youthvision Scholarship Program – This flagship program is a unique partnership with Big Brothers Big Sisters of Canada and YMCA Canada. Each year, 30
scholarships valued up to $35,000 each are awarded to Grade 10 students enrolled
in a mentoring program with these charitable partners. Students receive scholarship
support of up to $4,000 per year for up to four years of post-secondary education,
as well as an opportunity to participate in YMCA summer internships valued at up
to $2,000 per year while in high school, and up to $4,000 while in college or university. CIBC’s total multi-year commitment to this program exceeds $5 million.
Since the program started in 1999, over 120 scholarships have been awarded to
students across Canada. Being awarded a CIBC Youthvision Scholarship offers young
Canadians, like Benjamin Baker of Lethbridge, Alberta, a once-in-a-lifetime
opportunity to stay in school and receive financial, mentoring and internship
support, while benefiting from post-secondary education.
PROFILE
Sally and Benjamin Baker: Lethbridge, Alberta
2002 CIBC YOUTHVISION SCHOLARSHIP
“I felt like I had won the lottery. I was so happy, I couldn’t wait to tell him,” recalls
Sally Baker of the day she got word that her son Benjamin had won a major scholarship through the CIBC Youthvision Scholarship Program.
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“I was shocked at first,” remembers Benjamin on receiving the news. “It never
occurred to me that I might win.” Nevertheless, the scholarship has already started
to make a big difference because, all of a sudden, his dream of becoming a doctor
feels within his grasp. Also, Benjamin will be getting help from a familiar source. Big
Brothers Big Sisters are behind him all the way and the YMCA Canada internship will
be invaluable.
The timing of Benjamin’s award is so remarkable because it has come at exactly the
right time, when the right encouragement at school is everything. Sally has already
noticed the difference. He seems to be a different person now, with more selfesteem and a real determination to succeed. Winning the scholarship has boosted his
hopes, given him new responsibility and encouraged him to try that much harder.
“It will change his life, my life and all those he helps for the better,” she says.
Pathways to Education Program – CIBC’s $150,000 donation over three years helps
to support two mentor groups in this program, an initiative of the Regent Park
Community Health Centre in Toronto. This highly successful program is helping to
break the cycle of poverty and youth unemployment in Regent Park by encouraging neighbourhood children to stay in school, so families like Nema Dahir and
Mohamed Migag can benefit.
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Celebrating at the announcement of the 2002 Youthvision
Scholarships are Ted Arnott,
MPP for the Ontario Riding of
Waterloo-Wellington; Ken
Read, President, Alpine
Canada Alpin; scholarship
recipient Kyle Gibson and
John Hunkin, Chairman and
Chief Executive Officer of CIBC.
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PROFILE
Nema Dahir and Mohamed Migag: Toronto, Ontario
PATHWAYS TO EDUCATION PROGRAM
“It’s a great program,” says Regent Park’s Nema Dahir, “I really hope that other
communities think about having it.” The program she’s talking about is Pathways
to Education, a unique initiative from the Regent Park Community Health Centre in
Toronto that’s helping her son Mohamed get the most out of high school, so that
he can fulfill his lifelong dream of becoming a doctor.
In 2002, the Pathways to
Education Program was
recognized by the Ontario
Trillium Foundation for its
outstanding contribution in
helping to build strong
communities in Ontario.
Regent Park typically has poor school attendance and high drop-out rates but the
Pathways to Education Program is out to change all that. Open to all Grade 8
students in the community, all those who enroll will be supported for four years as
an incentive to pursue post-secondary education. With funding from companies like
CIBC, Pathways to Education enables students to benefit from regular one-on-one
access to subject tutors for their academic needs, and to mature as young adults by
connecting regularly with their mentors who are an integral part of the program.
“Pathways to Education provides wonderful academic support and so much
more,” says Dahir. Parents and their children know they’re going to get the educational and social support they need to keep pace with the demands of school
and to have the opportunity to make sense of their life experiences, so that they
can learn important lessons from them.
Canadian Foundation for AIDS Research (CANFAR) “Have a Heart” Program – As
a presenting partner for the program, CIBC has committed a total of $135,000
over three years. “Have a Heart” is CANFAR’s national youth awareness program,
which encourages youth leadership skills and increases awareness of HIV/AIDS and
the need for a cure at the same time.
The program works by students at hundreds of participating schools across the
country sending Heart o’Grams to each other on Valentine’s Day for a minimum
donation of $1. In 2002, 405 schools and 250,000 students participated, raising
$75,000 for the cause. The 2002 Heart Award presented to the school with
the most “heart” went to Stella Maris Academy, a small school in Trepassey,
Newfoundland, where students have participated in the program since it went
national in 1996 and have sold out of their Heart o’Grams every year since.
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PROFILE
Sister Sandy Butler, Principal: Trepassey, Newfoundland
STELLA MARIS ACADEMY
“It was a very good experience for everyone. Students come away feeling that they
have done something good to contribute to AIDS awareness and prevention,“ says
Sister Sandy Butler, principal of Stella Maris Academy in Trepassey, Newfoundland.
“Have a Heart” encourages youth leadership skills while increasing awareness of
HIV/AIDS and the pressing need for research that will lead to a cure. The program also
creates a valuable opportunity for students to have a dialogue about the disease and
provides a solid information base for students to make safer, more informed decisions.
“The program presents another way for young people to learn about this disease, so
they can pass the right information on to their families and to the people in their
communities,” says Butler. With support from CIBC, schools like Stella Maris
Academy that participate in the program are helping students to think for themselves
and form their own views, while contributing to a worthy cause.
University of Northern British Columbia (UNBC) Northern Advancement Program –
In 1998, CIBC committed $100,000 to this program, which offers Aboriginal students and those living in remote areas across the North access to a university
education and the option to obtain practical experience through mentorships,
practicums and co-op placements. In 2002, the bank committed a further $150,000
to become a full partner in the program. CIBC regularly hires UNBC students on a
part-time basis and has employed over 15 UNBC graduates in recent years.
DAREarts Foundation – CIBC’s $12,500 donation helps to support this organization, currently operating in cities all across Canada, which encourages children
from inner city and rural areas to learn leadership skills through the medium of
their own artistic expression. Throughout the year, children leave their schools to
spend “DAREarts Days” at local arts studios learning to paint, sculpt, sing, dance,
write and act under the guidance of arts professionals.
Nova Scotia Libraries Summer Reading Program – CIBC donated $10,000 to encourage children and young people to read during the summer months. The program
offers a variety of special learning activities and has attracted approximately 13,500
youth participants.
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Stella Maris Academy teacher
Viola Coombs and student
Carla Kennedy receive the 2002
Heart Award from the Honourable
James K. Bartleman, LieutenantGovernor of Ontario.
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Covenant House, Vancouver – In 2002, CIBC continued its support with an additional $13,000 towards a new program called “Rights of Passage,” a 44 unit secondstage supported housing program that gives a home full of love and support to
formerly homeless young people for six months to two years. CIBC and CIBC World
Markets are committed to assisting the estimated 500 – 1,000 youth that call
Vancouver’s streets home every night.
Teens Behind the Scenes at the Art Gallery of Ontario (AGO) – This program provides learning opportunities after school and on weekends for youth aged 14 to
19 years who join either as family volunteers, as gallery troupe members, as members of the AGO teen council or to work with artists in their communities. CIBC
donated $150,000 over three years to help attract youth from different cultural,
geographic and economic backgrounds to the program, to make the AGO more
accessible to them, and to create a better opportunity to awaken their interest in
the visual arts.
ProAction, Helping
Cops Help Kids –
CIBC was presented with the
John Bitove Sr. Award for
2002 in recognition of its fiveyear commitment of support
of police programs for
children at risk. ProAction is a
police outreach program to
bring cops and kids together,
and to create an environment
of mutual understanding
and respect. In 2002, CIBC
committed $30,000 to the
program over three years.
Blueprint for the Future Aboriginal Career Fairs – In 2002, CIBC supported the
National Aboriginal Achievement Foundation’s Blueprint for the Future Aboriginal
Career Fairs held in Saskatoon and Calgary, as well as the National Aboriginal
Career Symposium. The bank provides information on career opportunities, competency development, labour market characteristics and special programs to help
Aboriginal youth make career choices as they progress through secondary and
post-secondary education.
Phoenix House Youth Programs – CIBC donated $50,000, the largest single donation ever received, to fund a number of programs for homeless youth to develop
the skills and competencies they need to make the successful transition to adulthood. By providing safe, supportive housing, education, employment skills and
advocacy, Phoenix House Youth Programs continue to make a meaningful contribution to the lives of young men and women at risk.
École Nationale de Théâtre du Canada – In 2002, CIBC donated $15,000 over
three years to the school scholarship endowment fund to help support students
attending one of Canada’s leading institutions for the study of theatre arts.
CIBC Achievers – CIBC supports the Aboriginal community through this scholarship program that is administered by the National Aboriginal Achievement
Foundation to help talented young people realize their potential through education and training. CIBC contributes $100,000 annually to the program, which
recognizes and supports outstanding scholarship in every field of study and is open
to Aboriginal students who have distinguished themselves in their chosen fields.
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Summer Reading Club of the Canadian National Institute for the Blind (CNIB) –
CIBC’s $300,000 donation over five years is tied to the CNIB Summer Reading Club,
a nationwide interactive initiative that offers one-to-one mentoring and support to
help combat feelings of isolation felt by blind young people during the summer
months. The club, which needed to expand, now helps young people to return to
school refreshed and confident about meeting future challenges.
KIDS FROM KA-NA-TA – CIBC donated $7,500 in support of a national educational
exchange project that promotes student awareness, understanding and appreciation
of the cultural, social and political issues of Native and non-Native people living in
Canada. To date, over 500 schools and more than 10,000 Native and non-Native
students have participated in the program that operates in partnership with the
York University Faculty of Education and the Canadian Education Association.
CIBC 20 for 10 Youth Bid Ambassadors – CIBC is a founding supporter and exclusive youth program partner of the Vancouver 2010 Bid Corporation, committing
$1.5 million in financial and in-kind support for Canada’s bid for the 2010 Olympic
Winter Games and Paralympic Winter Games. The 20 for 10 Youth Bid Ambassadors,
official youth representatives supporting Vancouver’s bid, will focus on building awareness and enthusiasm among Canadian youth, while encouraging their support.
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CIBC is a founding supporter
of the 2010 Bid Corporation,
supporting Canada’s bid for
the 2010 Olympic Winter Games
and Paralympic Winter Games.
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COMMUNITY
Alpine Canada Alpin – CIBC committed $1 million each year for four years, 2002
to 2005, to Alpine Canada Alpin, the governing body for ski racing in Canada.
Through this financial support, the bank is helping to strengthen amateur ski racing,
nurture young talent and build the next generation of World Cup and Olympic
contenders in this sport.
Community support
CIBC contributed to a wide variety of additional national, regional and local programs during the year to support charities and good causes in the communities
that it serves.
HERE ARE MORE EXAMPLES OF CIBC’S COMMUNITY SUPPORT FOR 2002:
National Aboriginal Achievement Foundation – As part of CIBC’s annual
$350,000 contribution, the bank sponsors an awards program that recognizes
outstanding achievement in the Aboriginal community – honouring achievers like
Leonard Flett, last year’s winner of the CIBC Business and Commerce Award.
PROFILE
Leonard (Len) Flett, Vice-President, Store Development & Public Affairs:
Winnipeg, Manitoba
Len Flett, recipient of the CIBC
Business and Commerce Award
at the 2002 National Aboriginal
Achievement Foundation Awards
ceremony in Winnipeg, Manitoba.
Pictured with Len are Edward
Kennedy and Jill Denham,
Vice-Chair, CIBC Retail Markets.
THE NORTH WEST COMPANY
“I hope my own grandchildren will follow in my footsteps, the future of our communities
depends on our young people going into this field,” says Len Flett, Vice-President, Store
Development & Public Affairs, the North West Company, and last year’s Business and
Commerce Award Winner of the National Aboriginal Achievement Foundation Awards.
Since joining the North West Company, a groceries and general merchandise retailer
serving remote communities in the Far North, in the early 1960s, Flett has worked
tirelessly to help bring economic development to First Nations communities. Over
the last eight years, he has engineered 40 innovative transactions with Aboriginal
communities to establish business alliances that have created new stores on
reserves with the bands acting as landlords. Today, these partnerships represent
over $100 million in investments on reserves and have generated over 500 new
jobs in Aboriginal communities.
“We’ve made great strides in getting Aboriginal communities to understand business and to encourage young people to think of business as a career,” Flett says.
The National Aboriginal Achievement Awards are very important in providing role
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COMMUNITY
models for Aboriginal youth. As the lead sponsor, CIBC is a great example of
what the private sector can do to help.
Corporate Community Award 2002 – CIBC branch staff in Leamington, Ontario
were presented with the Corporate Community Award from the 2002 Business
Excellence Awards, in recognition of their collective efforts in actively working to
make their community an even safer, friendlier place to live.
PROFILE
Tim Seech, Account Manager: Leamington, Ontario
2002 BUSINESS EXCELLENCE CORPORATE COMMUNITY AWARD
“That sounds like something we should get involved in.” Account manager Tim Seech
says you hear that a lot around CIBC’s branch in Leamington, Ontario. That’s because all
the staff recognize that when there is a need in the community, they will get behind it.
So, it is no surprise that their dedication has been noticed. Last year, the Leamington
branch was presented with the 2002 Business Excellence Corporate Community
Award to honour its community spirit and for going beyond the call of duty to help
those in need. Over the years, branch staff have been involved in many community
activities, including the largest donation by a financial institution for a new arena
over a three-year period and contributing to the “Together in Caring” campaign.
Staff members are a determined group, and any time there is a need in the community, the branch is there to help out, organizing a fundraiser, volunteering their
time or doing whatever it takes to make that special difference to someone. “We
need to help the community, not only as an institution but also as individuals,”
Seech says. As an organization that cares, CIBC fully supports that.
Canadian Red Cross /American Red Cross – CIBC donated $1.4 million to the
Canadian Red Cross to support the U.S. Appeal for relief efforts for the families of
the victims of the September 11 terrorist attack on the World Trade Center, in response
to a global employee matching gift program. In addition, the bank contributed
US$100,000 to the American Red Cross to support their efforts to assist these families. Also, CIBC donated a vehicle to the New York City Fire Department to further
assist relief efforts. Employees around the world reached out to show their support
in different but very poignant ways, including an employee who made and sold a
special pin to raise money for relief funds.
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CIBC’s donations supported
relief efforts for the victims’
families of the September 11
terrorist attack on the World
Trade Center.
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COMMUNITY
Frontier College – In 2002, CIBC contributed the lead gift to the “Great
Expectations” campaign, committing $600,000 over three years to address literacy
issues. This builds on the bank’s donation of $461,000 over the previous four years,
which allowed the foundation to expand its nationwide program to help young
people improve their reading skills and to train more student volunteer tutors.
CIBC’s funding helped Frontier
College to expand its literacy
program.
Calgary Drop-In Centre – CIBC contributed $100,000 over five years to the centre’s capital campaign for the construction of a new facility. It will provide a safe
haven for Calgary’s homeless, offering them shelter, food and clothing, as well as
a range of rehabilitative services including job placement, counselling, recreational activities and social services.
Taking Pulse – With bank chairman and chief executive officer John Hunkin serving as co-chair, CIBC supports this broad-based project, which involves educators,
federal and provincial governments, Aboriginal Peoples and the private sector.
Together, they address the issue of Aboriginal employment and search for solutions.
CIBC Swim For Kids – CIBC sponsored the charity swimathon challenge with former Olympic swimming champion Mark Tewksbury to raise funds for the creation
of a special Hospital for Sick Children program to care for infants with severe combined immune deficiency. The event took place in 11 Greater Toronto Area pools
simultaneously, raising over $20,000 through registrations and individual sponsorships and pledges obtained by the participants. This was matched with a $25,000
donation from CIBC.
Coast Foundation Society – CIBC committed $30,000 towards the new 11,000
square foot resource centre in downtown Vancouver. The facility provides temporary housing, shower and laundry facilities for the homeless, as well as offering
counselling and computer training, workshops, first aid and a daily lunch program
to people suffering from mental illness.
CIBC’s sponsorship of the YWCA
Young Woman of the Year supports Canada’s next generation
of leaders.
YWCA Women of Distinction Award – With an overall 2002 contribution of
$100,000, CIBC was the patron sponsor of the YWCA Young Woman of
Distinction Award in many cities across Canada. The young women who receive
these awards are publicly recognized for their remarkable achievements, and
CIBC’s sponsorship of the event demonstrates the bank’s support of young people
who will be Canada’s next generation of leaders.
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COMMUNITY
You Are Not Alone (YANA) – CIBC and its employees, through donations and volunteering, supported YANA in its efforts to help low-to-middle income families in
B.C.’s Comox Valley deal with the financial burden associated with sending their children for out-of-town medical treatment. With support from three CIBC branches in
the community, YANA helped 300 families cope with this challenge during the year.
Health Care Corporation of St. John’s and the Newfoundland Cancer Treatment
and Research Foundation – With a corporate commitment of $150,000 over five
years, CIBC supported the “Give to Feel Good” campaign through which comprehensive and specialized medical programs and services are delivered to the
550,000 people living in Newfoundland and Labrador.
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COMMUNITY
Examples of organizations supported by CIBC
British Columbia, Northwest
Territories, Nunavut, Yukon
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Alzheimer Society of BC
BC Cancer Agency
BC Children’s Hospital Foundation
BC Festival of the Arts
BC Special Olympics
British Columbia Foundation for
Prostate Cancer
British Columbia Institute of Technology
British Columbia Transplant Society
Campbell River Hospital Foundation
Canadian Cystic Fibrosis Foundation
Canadian Mental Health Association,
South Okanagan Similkameen Branch
Canadian School of Ballet
Canadian Scottish Army Cadets
Children’s Arts Umbrella Association
Chilliwack Family YMCA
Chilliwack Symphony Orchestra
Chinese Cultural Centre
Coast Foundation Society
Covenant House
Down Syndrome Research
Foundation & Resource Centre
Ducks Unlimited
EAGLE (Environmental-Aboriginal
Guardianship through Law and Education)
Eagle Ridge Hospital Foundation
Fraser Valley Health Care Foundation
Fraser Valley Symphony Society
Green Thumb Theatre Company
Heart and Stroke Foundation
Huntington Society of Canada
Immigrant & Multicultural Services
Junior Achievement of British Columbia
Juvenile Diabetes Foundation
Kelowna Community Food Bank
Kelowna General Hospital
Kinsmen Club of Comox Valley
Kitimat Home Support Services
Kootenay Story Telling Festival
Lester B. Pearson College of the Pacific
Lillooet Skate N’ BMX
Malaspina University-College Foundation
Mission Museum Historical Society
Multiple Sclerosis Society of Canada
• Nanaimo Regional Hospital
• Navy League of Canada
• NWT Arctic Winter Games Female
Hockey Team
• NWT Literacy Council
• Okanagan Symphony Orchestra
• Pacific Rim Marine Search and
Rescue Society
• Pacific Space Centre
• Powell River Academy of Music
• Prince George Public Library
• Revelstoke Community Theatre
• Ridge Meadows Hospital Foundation
• Rotary Club
• Royal Canadian Air Cadets
• Salvation Army
• Seniors Foundation of British Columbia
• Simon Fraser University
• Spirit of the North Healthcare
Foundation
• St. Paul’s Hospital Foundation
• Surrey Chamber of Commerce
• Surrey Delta Immigrant Services Society
• Surrey Performing Arts Centre
• United Way Agencies
• University of Northern BC
• Vancouver Aquarium
• Vancouver Chamber Choir
• Vancouver General Hospital Foundation
• Vancouver Island Housing Association
for the Physically Disabled
• Vancouver Opera Association
• Vancouver Symphony Orchestra
• The Vermilion Trails Society
• Whitehorse General Hospital
• You Are Not Alone (YANA)
• Yukon Learn – Robert Service Recitation
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Alberta
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• 4H Club
• Alberta Children’s Hospital
Foundation
• Alberta Theatre Projects Society
• Big Brothers / Big Sisters Association
of Medicine Hat & District
• Boy Scouts of Canada
• Boyle Community Youth Centre
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Brooks & District Health Foundation
Calgary Family Services
Calgary Opera Association
Calgary Philharmonic Orchestra
Canadian Girls Rodeo Association
Child & Youth Care Society
Compassion House
The Council of Foundations
D.A.R.E. (Drug Abuse Resistance
Education Program)
East Calgary Twin Arena Society
The Edmonton Space and
Science Centre
Foothills Community Centre
Foothills Hospital Foundation
Girl Guides of Canada
Grande Prairie Regional College
Foundation
Grant MacEwan Community
College Foundation
Hardisty General Hospital
Junior Achievement of Northern Alberta
Junior Achievement of Southern Alberta
Keyano College Foundation
Koperoush Ukrainian Dance Association
Lakeland College
Lakeland United Way
Leduc and District Food Bank Association
Lethbridge Community College
Lindsay Park Sports Centre
Little Bits Riding Club for the Disabled
Medicine Hat Family YMCA
Mount Royal College
Multiple Sclerosis Society of Canada
Norwood Seniors Services Association
Peace River Agricultural Society
Pincher Creek and District
Agricultural Society
Project Warmth Society of Alberta
Red Deer College
Rotary Club
Salvation Army
Southern Alberta Institute of
Technology
Southern Alberta Summer Games
Stollery Children’s Hospital Foundation
United Way Agencies
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COMMUNITY
Alberta (continued)
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University of Alberta
University of Calgary
Wheatland Community Crisis Society
The Wood’s Homes Foundation
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Air Cadet League of Canada
Art Walk Saskatoon
Arthritis Society
Big Brothers Association of Saskatoon
Broadway North Theatre Company
Canadian Cancer Society
Estevan Council for the Prevention of
Child Abuse
Fort Qu’Appelle Senior Citizens Club
The Health Foundation of
East Central Saskatchewan Inc.
Hospitals of Regina
Junior Achievement of
Northern Saskatchewan
Junior Achievement of
South Saskatchewan
Kindersley Walking Trail Committee
Kinsmen Foundation Inc.
Moose Jaw Union Hospital
Northern Saskatchewan Children’s
Festival Inc.
Northern Teacher Education Program
Regina Symphony Orchestra
Saskatchewan Chamber of Commerce
Saskatchewan Science Centre
Saskatchewan Special Olympics
Saskatoon Sexual Assault Information
Centre Ltd.
Saskatoon Symphony Society
United Way Agencies
Victoria Hospital Foundation
Manitoba
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4H Club
Army Cadet League of Canada
Assiniboine Community College
Big Sisters & Big Brothers Association
of Winnipeg Inc.
Brandon University
Canada’s National Ukrainian Festival Inc.
Canadian Cancer Society
Dauphin Agricultural Society
Fort Whyte Centre
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Good Neighbours Senior Centre
Grace General Hospital
Great Plains Interpretive Centre
Junior Achievement of Manitoba
Kiwanis Club of Winnipeg
The Lieutenant-Governor’s Youth
Experience Program
Lundar Chamber of Commerce
Manitoba Cancer Treatment &
Research Foundation
Manitoba Theatre Centre
Northern Manitoba Trappers’ Festival
Oak Hammock Marsh Interpretive
Centre
Parkinson Society Manitoba
Scott Tournament of Hearts
United Way Agencies
University of Manitoba
Westman Dreams for Kids Foundation
Winnipeg Art Gallery
Winnipeg Symphony Orchestra
Ontario
• Ability OnLine
• ACE – Advancing Canadian
Entrepreneurship
• AIDS Committee of Toronto
• Air Cadet League of Canada
• Algonquin Wildlands League
• ALS Society of Ontario
• Alzheimer Society Canada
• Anaphylaxis Canada
• Army Cadet League of Canada
• Art Gallery of Hamilton
• Art Gallery of Ontario
• Arthritis Society
• Arts for Children of Toronto
• Autism Society of Ontario
• Belleville General Hospital
• The Banting Research Foundation
• Best Buddies Canada
• Big Brothers Big Sisters of Canada
• Big Brothers Big Sisters of Clarington
• Big Brothers Big Sisters of Hanover
• Big Brothers of Barrie
• Big Brothers Big Sisters of
Ottawa-Carleton
• Big Sisters Association of Orillia
• Blenheim Children’s Festival
• Bluewater Summer Playhouse
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Boy Scouts of Canada
Boys and Girls Club of Canada
Brantford General Hospital Foundation
Brock University
Brockville Hospital
Buddies in Bad Times Theatre
Burlington Association for
Community Living
Canada Safety Council
Canada’s Outstanding
Young Farmers
Canada’s Sports Hall of Fame
Canadian 4-H Council
Canadian AIDS Society
Canadian Association for
Community Living
Canadian Breast Cancer Foundation
Canadian Business Hall of Fame
Foundation
Canadian Cancer Society
Canadian Cystic Fibrosis Foundation
Canadian Diabetes Association
Canadian Education Association
Canadian Film Centre
Canadian Foundation for AIDS Research
Canadian Foundation for
Physically Disabled Persons
Canadian Institute for
Advanced Research
Canadian Institute of Child Health
Canadian Liver Foundation
Canadian Mental Health Association
Canadian National Institute for the Blind
Canadian Paraplegic Association
Canadian Parks and Wilderness
Society
Canadian Psychiatric Research
Foundation
The Canadian Red Cross
Canadian Red Cross Society
Canadian Special Olympics Foundation
Canadian Spinal Research Organization
Canadian Women’s Foundation
Canadian Youth Business Foundation
Canadore College
Carleton Place &
District Memorial Hospital
Carp Agricultural Society
Cartwright Sports & Recreation
Centenary Health Centre Foundation
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COMMUNITY
Ontario (continued)
• Centennial College
• Centre for Addiction and
Mental Health Foundation
• The Chatham Capitol Theatre
Association
• Chatham & District Association
for Community Living
• Children’s Aid Society
• Children’s Assessment and Treatment
Centre
• Children’s Discovery Centre of Niagara
• Children’s Hospital of Eastern Ontario
Foundation
• Chinese Cultural Centre of
Greater Toronto
• Chinese Family Services of Ontario
• Choose to Lead
• Collingwood General & Marine
Hospital Foundation
• Conestoga College
• Confederation College
• The Corporation of Massey Hall and
Roy Thomson Hall
• Covenant House
• Creche Child and Family Centre
• Crohn’s and Colitis Foundation
of Canada
• The Dam Youth Drop-In
• DAREarts Foundation for Children Inc.
• Distress Centres of Toronto
• Dorothy Ley Hospice
• Douglas Memorial Hospital Foundation
• Drug Abuse Resistance Education
• Ducks Unlimited Canada
• Durham Children’s Aid Society
• Easter Seal Society of Ontario
• Eleanor Drury Children’s Theatre
• Elgin Association for Community Living
• Emily Stowe Shelter for Women
• Essex Region Conservation Authority
• Essex Youth Centre
• Etobicoke General Hospital Foundation
• Etobicoke Services for Seniors
• Family YMCA of St. Thomas – Elgin
• Foundation of Chatham-Kent
Health Alliance
• The Foundation Fighting Blindness
• French for the Future
• Friends of MacGregor Point Park
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Friends of the Canadian War Museum
Friends of the Chatham Public Library
Friends of the Ottawa Public Library
Friuli Long Term Care
Frontier College
Genesis Research Foundation
Geneva Centre for Autism
George R. Gardiner Museum
of Ceramic Art
Gilda’s Club of Greater Toronto
Girl Guides of Canada
Grand River Hospital Foundation
Haldimand Bird Observatory
Haldimand/Norfolk Literacy Council
Haliburton Highlands Health
Services Foundation
Hamilton/Burlington YMCA
Hamilton Health Sciences Foundation
Hamilton Regional Cancer Care
Foundation
Hamilton YWCA
Head and Neck Cancer Foundation
The Health for Guelph Foundation
The Hearing Foundation of Canada
Heart and Stroke Foundation of Canada
Hip Hip Hooray
Hospital for Sick Children
The Hospital for Sick Children
Foundation
Hotel Dieu Hospital
Humber River Regional Hospital
Huntington Society of Canada
Huntsville Hospital Foundation
John P. Robarts Research Institute
Joseph Brant Memorial Hospital
Foundation
Junior Achievement of Canada
Juvenile Diabetes Research Foundation
Kemptville District Hospital Foundation
Kerry’s Place Autism Services
The Kidney Foundation of Canada
Kids Help Phone
Kincardine Theatre Guild
King’s College
Kingston General Hospital Foundation
Kirkland and District Hospital
Foundation
Lake of the Woods District Hospital
Lakehead University
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• Lambton College
• Lambton Hospitals Foundation
• Leamington District Memorial
Hospital Foundation
• The Learning Partnership
• Leukemia Research Fund of Canada
• Listowel Memorial Hospital Foundation
• London Health Sciences Foundation
• London Regional Children’s Museum
• Lupus Foundation of Canada
• Markham Stouffville Hospital
Foundation
• McCausland Hospital
• McMaster University
• Metro Toronto Movement for Literacy
• Metropolitan Toronto Habitat for
Humanity Inc.
• Mississauga Living Arts Centre
• Mon Sheong Foundation
• Mount Sinai Hospital Foundation
• Multiple Sclerosis Society of Canada
• Muscular Dystrophy Association of
Canada
• Napanee Public Library
• National Aboriginal Achievement
Foundation
• National Arts Centre
• National Ballet of Canada
• National Youth Orchestra of Canada
• Nature Conservancy of Canada
• Niagara Outreach Out of the Cold
• Niagara Peninsula Children’s Centre
• Norfolk County Agricultural Society
• North Bay & District Association for
Community Living
• North York General Hospital
• North York Harvest Food Bank
• Northern College of Applied Arts and
Technology
• Northumberland Health Care Centre
Foundation
• Northwestern Ontario Junior
Achievement Council
• Notre Dame Hospital
• Oakville Family YMCA
• Ontario 4-H Council
• Ontario Association of Youth
Employment Centres
• Ontario College of Art & Design
• Ontario Federation for Cerebral Palsy
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COMMUNITY
Ontario (continued)
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Ontario Special Olympics Inc.
Ontario Youth Parliament Association
Orillia Soldiers’ Memorial Hospital
ORT Canada
Oshawa General Hospital
Osteoporosis Society of Canada
Ottawa Civic Hospital Foundation
Ottawa Food Bank
Ottawa Hospital Foundation
Ottawa Jewish Community Centre
Ottawa Symphony Orchestra
Ottawa YM/YWCA
Parkdale Project Read Inc.
Parkinson Society Canada
Peel Children’s Centre
Pembroke General Hospital
Peterborough Regional Health Centre
Port Elgin Community Complex
Port Hope Health Care Foundation
Port Perry Hospital Auxiliary
Prime Mentors of Canada
ProAction – Helping Cops Help Kids
Project S H A R E of Niagara Falls
Providence Centre
Queen’s University
Queensway-Carleton Hospital
Foundation
Rainy River Agricultural Society
Regent Park Community Health Centre
Renison College
Rosalie Hall
Rotary Children’s Centre Charitable
Foundation
Rotary Clubs
Rouge Valley Health System
Royal Astronomical Society of
Canada
Royal Conservatory of Music
Royal Ontario Museum
Ryerson University
Safe Communities Foundation
The Salvation Army
Salvation Army – London
Sarnia Family YMCA Foundation
Scarborough Women’s Centre
Schizophrenia Society of Canada
Schulich School of Business
Scouts Canada
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ShareLife
Shaw Festival Theatre Foundation
Sheridan College
Sioux Lookout Anti-Racism Committee
Skills for Change
Smile Theatre Company
Smiths Falls Community Hospital
South Bruce Grey Health Centre
South Muskoka Hospital Foundation
Southlake Regional Health Centre
Foundation
Speech Foundation of Ontario
St. Catharines General Hospital
St. John Ambulance
St. Joseph’s Health Centre
St. Lawrence College Foundation
St. Michael’s Hospital Foundation
Stratford Shakespearean Festival
Foundation of Canada
Street Kids International – Toronto
Sudbury Manitoulin Children’s
Foundation
Sudbury Regional Hospital Foundation
Sudbury YMCA
Tapestry
Terry Fox Hall of Fame
Thunder Bay Regional Hospital
Foundation
Thunder Bay Symphony Orchestra
Tillsonburg & District Multi-Service
Centre
Timiskaming Elder Abuse Task Force
Toronto Association for
Community Living
Toronto Children’s Chorus
Toronto Foundation for Student Success
Toronto Hospital Foundation
Toronto International Film Festival Inc.
Toronto People with AIDS Foundation
Toronto Symphony Orchestra
Toronto Zoo Foundation
Touchstone Youth Centre
Traffic Injury Research Foundation
Trent University
The Treatment Centre of Waterloo
Region Charitable Foundation
Trenton Memorial Hospital
Trillium Health Centre Foundation
Trinity Home Hospice
UNICEF Ontario
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Union of Ontario Indians
United Jewish Appeal of Greater Toronto
United Way Agencies
University Health Network
University of Guelph
University of Toronto
University of Western Ontario
Vaughan Public Libraries
Victorian Order of Nurses
Villa Charities Inc.
Water Street Theatre & Company
Waterfront Regeneration Trust
Waterloo Region Hospitals Foundation
Welland Hospital Foundation
Wellspring Cancer Support Foundation
West Park Healthcare Centre
Foundation
West Parry Sound Health
Centre Foundation
William Osler Health Centre
Winchester District Memorial Hospital
Foundation
Windsor Jewish Community Centre
Windsor Regional Hospital Foundation
Windsor Symphony Society
Windsor-Essex Children’s Aid Society
Windsor-Essex County Hospitals
Foundation
Wingham & District Hospital Foundation
Women’s College Hospital Foundation
Women’s House of Bruce County
Woodgreen Red Door Family Shelter
World Wildlife Fund Canada
World Youth Day 2002
Yee Hong Community Wellness
Foundation
YMCA of Belleville
YMCA of Greater Toronto
YMCA of Oakville
York Central Hospital Foundation
Youth Challenge International
Youth Opportunities Unlimited
Quebec
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Arthritis Society
Bishop’s University
Le bon dieu dans la rue
Le Boulot Vers...
Les Buffets Insère-Jeunes
Canadian Cancer Society
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COMMUNITY
Quebec (continued)
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Canadian Kidney Foundation
Canadian Hemophilia Society
Caritas
Club Richelieu
Concordia University
Council for Canadian Unity
Cystic Fibrosis Association of Quebec
Les Diabétiques de Québec
École de Technologie Supérieure
École Polytechnique Montréal
Epilepsy Canada
Fabrique St-Romuald de Farnham
Fondation Centre Hôspitalier Fleury
Fondation Charles-Bruneau
Fondation de l’Hôpital du
Haut-Richelieu Inc.
Fondation de l’Hôpital
Honoré-Mercier
Fondation de l’Hôpital LaSalle
Fondation de l’Hôpital de Granby
Fondation de l’Hôpital
du Centre-de-la-Mauricie
Fondation de l’Hôpital
Regional de Lanaudière
Fondation du Centre Normand Léveillée
Fondation Émergence Inc.
Fondation Hôpital Charles Lemoyne
Fondation Hôpital de L’énfant-Jésus
Fondation Jean Duceppe
Fondation Jean Lapointe
Fondation Jeunesse j’écoute
Fondation Palli-Ami
Fondation Université du Québec
Abitibi-Témiscaminque
Fonds CIBPA
Foundation for Research into
Children’s Diseases
Gilda’s Club
Groupe Action Nouvelle Vie
Hôtel-Dieu de Saint-Jérome
Huntington Society of Canada
Institut du Cancer de Montréal
Jeune Chambre de Commerce du
Quebec
Jeunesse au Soleil
JEVI Centre de Prévention du Suicide –
Estrie
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Jewish General Hospital
Junior Achievement
Lakeshore General Hospital
Laval University
Leonardo da Vinci Centre
La Maison du Bouleau Blanc Inc.
La Maison Grise
Maison des Jeunes Kekpart
La Maison des Jeunes
“Par la Grande Porte” Inc.
La Maison Tangente Inc.
Marie-Enfant Hospital Foundation
Mazon Food Fest
Montreal Breast Cancer Foundation
Montreal Heart Institute
Montreal Interactive Science Centre
Montreal Museum of Fine Arts
Montreal Neurological Institute
Mount Sinai Hospital Foundation
Multiple Sclerosis Association
Muscular Dystrophy Association of
Canada
National Theatre School of Canada
OLO Foundation
Opération Enfant Soleil Inc.
Les Petits Frères des Pauvres
La Popote Roulante
Queen Elizabeth Hospital – Montreal
Le Réseau Hautes Études Commerciales
Ressources Jeunesse de St-Laurent
Rotary Club
Salvation Army
Les Scientifines
Skills Canada
Société pour les Enfants Handicapés
Théâtre du Rideau Vert
To Live Again
United Way Agencies
University of Montréal
University of Quebec
YMCA – Montreal
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New Brunswick
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Chaleur Regional Hospital Foundation
Chalmers Regional Hospital Foundation
Ducks Unlimited
First Steps Housing Project
Friends of the Moncton Hospital
Foundation
Huntsman Marine Science Centre
Junior Achievement of Fredericton
Junior Achievement of
Greater Saint John
Juvenile Diabetes Research
Foundation
Region 7 Hospital Corporation
Rotary Club
Saint John Regional Hospital
St. Thomas University
Theatre New Brunswick
United Way Agencies
Nova Scotia
• Abilities Foundation of Nova Scotia
• ALS Society of Canada
• Annapolis Valley-South Shore
Recreational Trail Association
• Antigonish Highland Dance Society
• Art Gallery of Nova Scotia
• Atlantic Burn Camp
• Auxiliary of Guysborough
Memorial Hospital
• Canadian Cancer Society
• Cape Breton Regional Hospital
Foundation
• Chamber of Commerce – Truro & District
• Children’s Aid Society of Halifax
• Cobequid Multi-Service Centre
Foundation
• Colchester Community Workshops
Foundation
• Colchester Regional Hospital
Foundation
• Dalhousie University
• Dartmouth General Hospital
• The Discovery Centre
• Ducks Unlimited
• IWK Children’s Hospital Foundation
• Junior Achievement of Mainland
Nova Scotia
• Juvenile Diabetes Foundation Canada
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Nova Scotia (continued)
Newfoundland and Labrador
•
•
•
•
• Big Brothers and Sisters of Eastern
Newfoundland
• Central Northeast Health Foundation
• The Family Crisis Shelter Association
• The Gathering Place
• Girl Guides of Canada
• Health Care Corporation of St. John’s
• Janeway Children’s Hospital Foundation
• Junior Achievement of Newfoundland
and Labrador Inc.
• Labrador City Public Library Services
• Labrador West Young Peoples
Association Inc.
• Lewisporte & Area Chamber of
Commerce
• Lions Club
• Memorial University of Newfoundland
• Newfoundland and Labrador Lung
Association
• Trinity Conception Health Board
• Western Memorial Regional Hospital
Foundation
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Kings Regional Rehabilitation Centre
Mermaid Theatre of Nova Scotia
Multicultural Association of Nova Scotia
New Glasgow Riverfront Development
Project
Nova Scotia Hospice Palliative
Care Association
Nova Scotia Hospital Foundation
Nova Scotia Provincial Library
OSPREY Arts Centre
Phoenix Youth Programs
Psoriasis Society of Canada
Sackville/Bedford Meals on Wheels
Shelburne County Adult Work Shop
for the Mentally Handicapped
Skate Yarmouth
St. Francis Xavier University
St. Martha’s Regional Hospital
Foundation
United Way Agencies
University of King’s College – Halifax
Valley Regional Hospital Foundation
Western Regional Health Centre
YMCA Lunenburg County
Prince Edward Island
•
•
•
•
•
•
•
•
•
•
•
•
Cornwall Cornfest
The Garden of the Gulf Museum
Kensington Meals-on-Wheels
Northumberland Community
Development Corporation
Northumberland Recreation Association
Prince County Hospital Foundation
Prince Edward Island 4-H Council
Prince Edward Island Music Festival
Association
Rotary Club of Charlottetown
Souris Group Home Association
Southern Kings and Queens
Chamber of Commerce
University of Prince Edward Island
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CIBC employee Rani Hothi
(centre) got involved in her
community by becoming a “Red
Dot,” a full-fledged member of
the Merritt Fire and Rescue service.
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IN ADDITION, CIBC SUPPORTS CANADA’S COMMUNITIES THROUGH IN-KIND
DONATIONS, SUCH AS:
Computers for Schools – In 2002, CIBC donated in-kind more than 940 pieces of
computer equipment, worth more than $137,000 to this national, federal governmentled program that refurbishes used computers and donates them to schools and
libraries. CIBC is the largest corporate supporter, having contributed more than
10,000 computers to date.
Employee as Ambassador
CIBC encourages its employees’ personal volunteerism and celebrates their commitment to, and support of, local community activities through the Employee as
Ambassador Program. Under the program, CIBC donates up to $1,000 per employee
to each of the community organizations employees support through their own
individual involvement. In 2002, the bank donated over $289,000 to local community organizations on behalf of employees.
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OUR HUNDREDS OF AMBASSADORS INCLUDE PEOPLE LIKE:
PROFILE
Rani Hothi, Account Manager, Personal Banking: Merritt, British Columbia
MERRITT FIRE AND RESCUE DEPARTMENT
Two years ago, Rani Hothi got involved in her community by choosing to become
a volunteer firefighter. After months of training, written examinations and successfully completing a demanding physical test, she qualified as a “Red Dot,” a
full-fledged member of Merritt Fire and Rescue authorized to enter burning buildings. Today, she’s not only a valued CIBC employee but also a valuable community resource dedicated to preserving life and property from fires in the City of
Merritt, and providing rescue and extrication services to accident victims on the
Coquilhalla Highway, the primary route that connects the B.C. interior to the West
Coast.
As a banker, volunteer firefighter and member of the community, Hothi is always
looking for new challenges. Through the Employee as Ambassador Program, she
helped transform Fairley Park, named after the late former fire captain George Fairley,
into a new play area for small children. Officially opened on September 11, 2002,
the festivities included a demonstration of fire awareness and a display of firefighting equipment routinely used by the department.
“It brings to the forefront that CIBC is committed to the community and encourages its employees to get actively involved,” Hothi says. With CIBC’s support, it is
a role for her that will continue.
PROFILE
Steve Macdonell, Manager, Commercial Banking: Montreal, Quebec
LAKESHORE GENERAL HOSPITAL, WEST ISLAND, MONTREAL
Steve Macdonell is committed to making a difference, volunteering his time and
energy to support the Lakeshore General Hospital on Montreal’s West Island. As
the current chairman of the Lakeshore General Hospital Foundation, Macdonell is
busy spearheading the $10 million “Tools for Healing” campaign to purchase lifesaving medical equipment that will transform the hospital into a state-of-the-art
medical facility and renew its role as a leading healthcare provider.
CIBC has been one of the hospital’s steadfast supporters, both as a major donor
to the capital campaign and by supporting Macdonell’s activities by enabling him to
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CIBC contributes to
Lakeshore General Hospital
both as a major donor and
by supporting employee
Steve Macdonell’s
fundraising activities.
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attend key fundraising functions that benefit the hospital. Through the Employee
as Ambassador Program, he was able to go to the Harvest Moon Ball, the community’s most prestigious fundraising gala attended by over 400 political and business
leaders, to continue his important work for the hospital.
“People see first-hand that you work for a caring institution that takes pride in
giving back to the community, and that it is behind one of its greatest assets – its
employees – to make a contribution,” Macdonell says. As a CIBC employee, he’s
very happy for the recognition and the support.
OTHER AMBASSADORS INCLUDE:
CIBC is a steadfast supporter
of Lakeshore General Hospital
and its role as a healthcare
provider to the community.
Sue Cowan – Business Administration Officer
Georgetown, Ontario
Georgetown Children’s Chorus
As a volunteer and proud parent, Sue serves as board secretary of the Georgetown
Children’s Chorus, which consists of five choirs of young people between the ages
of four and 20 who perform at various concerts in the community throughout the
year. After the September 11 tragedy, the youth choir performed “Let Us Hold On
to Each Other,” a song specially written for a community prayer vigil. With support
from the Employee as Ambassador Program, the song was produced on CD, with
all the proceeds after the production costs going to the Canadian Red Cross for
disaster relief for the families of the victims.
“It was grassroots. It was kids. It was good for everybody,” says Cowan.
Karen Hansen – Branch Manager
Delia, Alberta
Kidsport Delia
Not all children in our community get to play organized sports. But there is a solution. Kidsport is a national charity that brings sport and needy kids together, so
that everyone can play. That made sense to Karen, so she became a founding
member and treasurer of Kidsport Delia, to help bring this organization into the
community. She is leading the fundraising charge to solicit donations from the
community to start things off. The funds raised from the Employee as Ambassador
Program and other local sources will go towards registration fees so that all
children in the community can play sports.
“It’s important because Delia has always supported CIBC and it’s good to see it
coming back to the community,” says Hansen.
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Bob Kapur – Senior Manager, Legal & Compliance
Toronto, Ontario
Ontario Youth Parliament
Ontario Youth Parliament is an inter-denominational, nonpartisan educational forum
modelled on the Ontario legislature. This year’s 35th sitting brought together around
150 young people aged between 15 and 21 from every corner of the province to
debate the issues of the day and to explore beliefs and values from across the political spectrum. Bob is involved behind the scenes to help run the organization, serving on the Board of Directors, assisting with fundraising and providing financial
expertise. With the financial support from the Employee as Ambassador Program, he
made a difference by easing the cost of transporting delegates to the conference.
“CIBC’s support helps to foster community involvement and lets us achieve more
for this youth organization,” says Kapur.
Dennis Norton – Manager, Retail Markets and Products Technology
Toronto, Ontario
Durham Children’s Aid Society
Dennis got involved with the Durham Children’s Aid Society about two years ago
because he wanted to work with an organization helping kids at risk. Currently
serving as vice-president, a director and member of the Operations Committee,
he’s driven by the work the society is doing. With the help of the Employee as
Ambassador Program, he can make a positive contribution to the society’s goal to
bring positive change to the lives of these children.
“I’m very happy to work for an organization that supports my community activities,” says Norton. ”It’s a good thing to do and I’m very proud of that.”
Employee initiatives
CIBC is proud to support the volunteer efforts of its employees
who raise millions of dollars every year for their chosen causes.
The biggest and best known of these is the CIBC Run for the
Cure. This year’s October 6th event was the largest ever, raising
more than $13 million for the Canadian Breast Cancer
Foundation to help eradicate this disease.
Another major employee initiative, the CIBC World Markets Children’s Miracle Day,
which was started in 1984, is now a global phenomenon. For one day every
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Canadians all across the country, like Judith Manley, supported
the 2002 CIBC Run for the Cure,
raising more than $13 million to
fight breast cancer.
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December, CIBC World Markets and CIBC Wood Gundy sales and trading staff worldwide donate their fees and commissions to local children’s charities. On the 2001
Miracle Day, employees raised $19.2 million globally, including $3.1 million in Canada.
CIBC employees also volunteer countless hours to United Way and other campaigns in communities across Canada, as well as participate in regional initiatives,
such as the annual fundraising activities for B.C.’s Children’s Hospital.
CIBC Run for the Cure
The CIBC Run for the Cure is the bank’s biggest employee fundraising activity in
Canada, and the country’s premier annual event dedicated to raising money to
fight breast cancer. It is a cause that CIBC employees take to heart.
The 11th annual CIBC Run for the Cure was held on October 6, 2002 and marked
CIBC’s sixth year as the title sponsor. This year’s event was the largest ever, breaking last year’s records for the number of participants and the funds raised. It
involved more than 135,000 participants in 38 communities across Canada, including over 14,000 CIBC employees, their families and friends nationwide – employees
like breast cancer survivor Angie Fera of Toronto.
PROFILE
Angie Fera, Teleconsultant: Toronto, Ontario
CIBC RUN FOR THE CURE
Participating in this event is
very important to CIBC employee
and breast cancer survivor
Angie Fera.
On October 6th, Angie Fera ran for the cure. A CIBC employee and breast cancer
survivor, she knows better than most the importance of supporting a cause that
can put an end to this disease. She’s in good company. The bank’s employees have
taken on the CIBC Run for the Cure as their own. Enthusiastic supporters of the
event since it was first started back in 1992, over 14,000 employees, their families
and friends joined ranks to help defeat breast cancer at 38 different run sites from
Newfoundland to Vancouver Island.
Participating has become a treasured annual event for Fera, made all the more
poignant for having survived her brush with breast cancer. “It’s like giving back something precious,” she says. “I have been given a chance to live and I’d like to pass it
on to other women.” It’s also a wonderful opportunity to spend time with work
colleagues, old friends, new acquaintances and family members who are mutually
supportive and share the common goal of creating a future without breast cancer.
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With CIBC’s continued title sponsorship of the event, the enthusiastic commitment
of employees and the growing support of the public, Fera is confident that the
cure is in sight. “I count my blessings every day that I am alive,” she says. “If I could
help just one person I would be really happy. But if everyone could help just one
person, now that would be terrific.”
In addition, CIBC employees take leadership positions in the co-ordination of the
event as Canadian Breast Cancer Foundation run directors. Twelve of the 38 CIBC
run sites were led by employees in 2002 and close to 1,400 CIBC employees volunteered to help organize local events.
“The volunteer network is quite unique and very important to the success of this
event,” says Jay Hooper, National Director, Funds Development for the Canadian
Breast Cancer Foundation. “CIBC’s investment goes well beyond our expectations
in terms of level of support for a variety of reasons,” says Hooper, “one of them is
undoubtedly the profound and growing support from its employees.”
Run sites: 2002 CIBC Run for the Cure
Fraser Valley, British Columbia
Kamloops, British Columbia
Kelowna, British Columbia
Nanaimo, British Columbia
Prince George, British Columbia
Vancouver, British Columbia
Victoria, British Columbia
Yellowknife, Northwest Territories
Calgary, Alberta
Edmonton, Alberta
Red Deer, Alberta*
Regina, Saskatchewan
Brandon, Manitoba*
Winnipeg, Manitoba
Barrie/Orillia, Ontario
Brampton, Ontario
Durham Region, Ontario
Hamilton/Burlington, Ontario
Kingston, Ontario
Kitchener/Waterloo, Ontario
London, Ontario
Niagara Region, Ontario
Ottawa, Ontario
Peterborough, Ontario
Sault Ste. Marie, Ontario*
Simcoe, Ontario*
Sudbury, Ontario
North Bay, Ontario
Toronto, Ontario
Windsor, Ontario
Montreal, Quebec
Charlottetown, Prince Edward Island
Fredericton, New Brunswick
Moncton, New Brunswick
Saint John, New Brunswick
Halifax, Nova Scotia
Sydney, Nova Scotia
St. John’s, Newfoundland
*Satellite sites
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CIBC World Markets Children’s Miracle Day
Each year, on the first Wednesday in December, CIBC World Markets and CIBC
Wood Gundy sales and trading staff in Canada, the U.S., Europe and Asia donate
their fees and commissions to children’s charities.
Since 1984, Children’s Miracle Day
has raised almost $85 million for
children’s charities.
On Miracle Day 2001, held on December 5th, CIBC raised $19,245,180 globally,
including $3,150,339 generated in Canada. Since one solitary broker, the late
Timothy Miller, thought of the idea for the event back in 1984, Children’s Miracle Day
has raised almost $85 million.
These funds are directed back to the communities where they were raised, providing grassroots help for more than 350 local and national charitable organizations
dedicated to improving the education, health and well-being of children.
This year, the Miracle Generation Challenge was created to commemorate the
2001 Year of the Volunteer, to recognize the thousands of hours young Canadians
devote to their communities. Young people, 18 years of age and under, were invited
to answer questions about volunteerism and what they would do to make their
community a better place to live. Award winners were chosen from over 1,100
submissions, based on entries that were thoughtful, well written and showed an
obvious commitment to the principle of volunteerism and community involvement.
HERE ARE A FEW EXAMPLES OF THE TYPES OF PROGRAMS THAT THE CIBC WORLD
MARKETS CHILDREN’S MIRACLE FOUNDATION SUPPORTS:
Education – In today’s information age, children increasingly need to learn new
skills to succeed and experience continuous learning throughout their lifetime.
Centre for Family Literacy – The Centre for Family Literacy develops stronger
relationships between parents and children, building stronger families and healthy
communities. In 2002, the CIBC World Markets Children’s Miracle Foundation
donated $10,000 to the centre to help it provide a wide range of programs, such
as Books for Babies, Rhymes That Bind and Learning Together, that develop early
literacy and language experiences for young children, to promote healthy family relationships and provide a foundation for all other learning in a child’s life.
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PROFILE
Maureen Sanders, Executive Director: Edmonton, Alberta
CENTRE FOR FAMILY LITERACY
Literacy, so important in the raising of children, weaves through all aspects of
family and social life. “It’s a community responsibility,” says Maureen Sanders,
Executive Director of the Centre for Family Literacy, “and we all have to be part of
it.” Family literacy influences child development, adult literacy and family dynamics,
which are the building blocks of family and community.
The Centre for Family Literacy is working with its local partners to pioneer innovative
literacy programs for families in the community and to develop basic training packages for family practitioners new to the field in Alberta and across Canada. The centre
is at the leading edge as family literacy emerges as an important public health issue
in communities nationwide. With funding from the CIBC World Markets Children’s
Miracle Foundation, the centre is continuing to develop groundbreaking family
literacy programs that encourage parents to explore the world of literacy with their
children, so they can experience and share in their growth.
“It’s really important,” Sanders says, “that corporations like CIBC invest in their
communities and help with community development.” With their support, the
centre’s work will go on, helping parents and children to build relationships that
are healthy and strong.
Health – CIBC World Markets supports charitable programs and organizations
whose goals are to better the health of children through basic health care, nutrition and tending to illness.
Bloorview MacMillan Children’s Centre – Children with disabilities have the same
types of concerns as other kids of their age. They also face additional challenges
that are more than just health or medical problems, they are important life and
wellness concerns.
Bloorview MacMillan Children’s Centre is a leader in rehabilitation, education,
advocacy and research, and is dedicated to enabling children with disabilities and
special needs to achieve their personal best. With $10,000 in support from the
CIBC World Markets Children’s Miracle Foundation, the centre is able to create
innovative programs and services that enrich the independence and quality of life
of children and families in Ontario and beyond.
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Investing in family literacy helps
parents and children build strong
and healthy relationships.
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At the centre, staff are dedicated
to enabling children with disabilities and special needs to achieve
their personal best.
Bloorview MacMillan
Children’s Centre’s programs
enrich the independence
and quality of life of children
and their families.
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PROFILE
Valerie McMurtry, President: Toronto, Ontario
BLOORVIEW MACMILLAN CHILDREN’S FOUNDATION
Ontario kids with disabilities and their families know about Bloorview MacMillan
Children’s Centre. As the province’s largest pediatric rehabilitation centre, young
people with physical disabilities and special needs from Toronto and across Ontario
benefit from its outpatient clinics, hospital and respite care, assistive technology
services and community outreach activities.
“In addition to providing care and services for children with special needs, we also
serve as a resource for other children’s centres. We provide professional education
and consultation to ensure young people with disabilities can access services locally
to help them develop the skills they need to realize their full potential,” says foundation president Valerie McMurtry.
With support from the CIBC World Markets Children’s Miracle Foundation,
Bloorview MacMillan is enhancing services for children admitted to the centre’s
hospital unit. Children’s Miracle Day funds are helping to equip a new on-site
therapeutic playroom to provide a safe, fun and educational environment where
children can learn and develop their skills through play.
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“We are committed to enabling children with disabilities achieve their personal
best,” says McMurtry. “With help from the CIBC World Markets Children’s Miracle
Foundation, we are that much closer to our goal.”
Well-being – Children need to be valued and given the opportunity to experience
joy, forge friendships and receive emotional support. Children’s Miracle Day funds
programs and organizations supporting this belief.
Partners For Youth – Partners For Youth is committed to providing vulnerable children and challenged youth with a safe, supportive and fun environment in which
to learn, to grow and to make responsible life decisions. With the $7,000 donation from the CIBC World Markets Children’s Miracle Foundation, Partners For
Youth provides mentoring and adventure-based programming to increase participants’ sense of personal confidence, and to raise the level of co-operation, respect
and support within the group. Challenging activities, such as rappelling, caving
and canoeing give participants the opportunity to try out new roles and to see life
from a different perspective.
PROFILE
Joanne Thomson, Managing Director: Fredericton, New Brunswick
PARTNERS FOR YOUTH
Partners For Youth was founded on a simple thought, the idea of one community
pooling all its skills and resources and coming together to give young people at risk
a fighting chance at a successful adolescence. Today, the organization consists
of three separate but related programs – the School-Based Program, the
Guardianship Program and the First Nations Outreach Program – that provide vulnerable and challenged youth with a safe, supportive and fun environment to help
them learn how to cope with everyday life situations.
The programs operate in 12 different schools in four regions of New Brunswick,
helping middle school children at risk, children in the care of the province, and First
Nations children to experience a happy group dynamic that they can all share and
learn from, so they can grow as individuals.
With continued funding support from the CIBC World Markets Children’s Miracle
Foundation, Partners For Youth plans on building on that original great idea and
intends to expand across the province. Having CIBC World Markets as a community partner is key to helping the organization reach its goal. “It’s an investment in
our common future,” managing director Joanne Thomson says, “and I know we
can all benefit.”
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Partners For Youth adventurebased activities challenge participants to see life from a new
perspective.
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In 2002, CIBC donated
$1.3 million to United Way of
the GTA and its employees
contributed even more through
their fundraising efforts and
payroll deductions.
United Way and more
CIBC provides more than $2.45 million in corporate donations to United Way in
addition to over $250,000 of in-kind support. The bank’s employees contribute
even more through their fundraising efforts and their payroll deductions. In 2002,
CIBC’s national total amounted to $6.4 million.
In the Greater Toronto Area (GTA), CIBC’s corporate gift of $1.3 million was complemented by the generosity of individual employees. A total of 72 Major Gift
donors gave $5,000 or more for a total contribution of $1.42 million, and CIBC
won the Spirit Award for its Leadership Campaign with individual gifts of more
than $1,000 totalling $637,000. Overall, 5,366 CIBC donors in the GTA raised a
record-breaking $2,775,600.
Also, CIBC employees in the GTA represented the largest “Days of Caring” team
with 216 volunteers helping United Way member agencies.
B.C.’s Children’s Hospital (BCCH) – Each year, CIBC employees in B.C. stage an annual,
province-wide campaign to raise funds for the B.C.’s Children’s Hospital.
In seven years, they have raised almost $2 million to help BCCH purchase much
needed equipment and to fund life saving research. In 2002, CIBC employees
raised over $215,000 through bake sales, book sales, garage sales, coffee parties,
raffles, selling chocolates and Seymore Bears.
Employer of choice
At CIBC, we believe the best companies are those with the best
employees. That’s why the bank is always looking for new,
innovative ways of attracting and retaining the best people to
join the CIBC team.
CIBC is determined to be the
employer of choice in the
financial services industry
and has a recruitment
strategy that demonstrates
this commitment.
CIBC is determined to be the employer of choice in the financial services industry
and our recruitment strategy and initiatives demonstrate that commitment. By
reflecting the principles of diversity and employment equity in the workplace, CIBC
builds stronger teams where every employee makes a difference. The bank makes
every effort to attract and retain skilled employees from diverse communities,
specifically, women, Aboriginal Peoples, persons with disabilities and members of
visible minorities.
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CIBC’s redesigned career website offers current job postings, templates, tools and
tips; the bank participates regularly in job fairs and other events for students,
Aboriginal youth, people with disabilities and other groups that offer great potential as future employees; and CIBC has a global hiring policy in place to ensure that
the same high standards are applied across the bank and its subsidiaries worldwide.
NOTEWORTHY DEVELOPMENTS FOR 2002 INCLUDE:
CIBC Children’s Centre – In 2002, CIBC launched the CIBC Children’s Centre, an
innovative backup childcare facility, available exclusively to employees, that provides a convenient alternative when regular childcare arrangements break down.
CIBC staff can rely on a safe, reliable solution, knowing that their children are well
taken care of. Managed by ChildrenFirst Ltd., one of North America’s leading
backup childcare providers, the centre currently has 30 spaces for children aged
between three months and 13 years, increasing to 40 spaces in 2003.
PROFILE
CIBC chairman and chief executive officer John Hunkin visits the
CIBC Children’s Centre.
Carolyn Ingram, Consultant: Toronto, Ontario
CIBC CHILDREN’S CENTRE
“Looking ahead, I have tremendous relief knowing that when there are scheduling conflicts, I can make use of the centre and go to work as well,” says Carolyn Ingram, a CIBC
communications consultant with the Enterprise Information Security Group and an
enthusiastic client of the newly launched CIBC Children’s Centre. Judging by the initial
response and number of early registrations, her view is clearly shared by her colleagues.
The first of its kind in Canada, the centre provides backup childcare for children of
employees to help them manage the balance of work and family responsibilities in
their lives. It helps families cope with the stress of last-minute arrangements, removing the pressure on colleagues and co-workers to step into the breach. CIBC parents
can use the facility up to 20 days each year and up to five consecutive days if required.
The CIBC Children’s Centre provides employees with a safe, reliable backup child
care solution that allows them to concentrate on the job at hand knowing that
their children are being well cared for. “I think it’s fantastic,” Ingram says. “It’s a
huge benefit for parents because if there’s an issue with your child, you’re close by
and you can deal with it.”
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CIBC e-Learning Solution – The bank’s e-Learning Solution provides a single channel for delivering learning to employees across the organization. It is a webenabled, integrated vendor system that includes a learning management system,
a competency management system and an accreditation/continuing education
tracking system. Initially available to U.S. employees in the Amicus line of business,
it was extended to CIBC branch banking employees Canada-wide in 2002.
Global Tuition Assistance Policy – As part of CIBC’s commitment to continuous
learning, permanent employees at any location globally may upgrade their skills to
improve their career advancement opportunities at no cost through the bank’s
global tuition assistance policy. External courses are covered at up to 100% of the
cost of course tuition for a reasonable part-time course load.
CIBC’s new Wellness
Checkpoint website provides
information that promotes
the health and well-being
of employees.
Wellness Checkpoint – In 2002, CIBC launched Wellness Checkpoint, an exciting
new global health website for employees. The site provides assessment tools and
information that promote health and well-being. It encourages all employees to
become more proactive and to focus on the prevention of poor health, instead of
having to manage the consequences of it. The range of information and services
offered will help people maintain a healthier lifestyle and better manage the
challenges of everyday life.
CIBC Access Awards/MBA Awards for Students with Disabilities – In the first year
of its three-year program, CIBC presented 14 awards to students with disabilities –
eight from Ryerson University, four from York University’s Schulich School of
Business and two from the Rotman School of Business at the University of Toronto.
The awards were established in 2001 in partnership with the Disabled Persons
Employment Equity Human Rights Group and are available to post-secondary students with disabilities to help fund their education.
PROFILE
Uzma Khan, Third-Year Student: Mississauga, Ontario
CIBC ACCESS AWARDS
“It’s a good idea that CIBC came up with this award,” says Uzma Khan, a thirdyear student in Ryerson University’s Information Technology Management Program
and one of 14 recipients of the CIBC Access Awards for 2002. “This kind of support really helps. I hope it continues and spreads to other organizations.”
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COMMUNITY
CIBC has committed $75,000 over three years to the program and is working with
Ryerson University, University of Toronto and York University to help in the selection of candidates. As one of Canada’s largest employers, the bank is committed
to the principle of employment equity and diversity in its workforce. It’s not only
the right thing to do, it is also the smart move to have equitable human resource
policies and practices in place that benefit all bank employees.
Receiving the award will definitely have an impact in the short term and should
help Khan to find employment after graduation. “The biggest difference for me
would be if I was to find employment,” she says. “The CIBC award program is a
great start for making that happen.”
Awards
Canadian Foundation for Physically Disabled Persons Corporate Award – CIBC was
recognized for its demonstrated commitment to people with disabilities through accessibility initiatives, workplace accommodation outreach and its sponsorship programs.
Human Resources Development Canada Certificate of Merit – CIBC was
awarded a Certificate of Merit by the federal government in recognition of its
programs to promote equity and diversity within the workforce. In particular,
CIBC was commended for its record in improving the representation of women
within senior management from 3.4 percent in the late 1980s to 34.2 percent
today. The bank was also recognized for its programs to increase hiring of
Aboriginal Peoples and people with disabilities.
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COMMUNITY
Employment in Canada
CIBC is one of Canada’s largest employers. In 2002, the bank
and its listed affiliates had more than 36,000 full-time and parttime employees nationwide.
Employment at CIBC offers a wide range of career opportunities in everything from
technology and e-commerce to investment banking and head office functions.
There are thousands of positions in branch banking, wealth management and in
the bank’s network of telephone banking centres.
Employment at CIBC offers
a wide range of career
opportunities in everything
from technology and
e-commerce to investment
banking and head
office functions.
During the year, the CIBC group of companies paid out more than $2.25 billion in
salaries and benefits to its Canadian workforce. Part-time employees receive equivalent benefits and are paid on the same basis as full-time employees.
In addition, the bank supported thousands more jobs indirectly, in every sector
from janitorial services to high-tech consultants, through the money invested in
outside goods and services. The total for 2002 was approximately $2.9 billion
worldwide, with over $2 billion spent in Canada.
FULL-TIME AND PART-TIME EMPLOYEES – AS AT OCTOBER 31, 2002
CIBC and its listed affiliates
Full-Time
Employees
Part-Time
Employees
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Quebec
New Brunswick
Nova Scotia
Prince Edward Island
Newfoundland and Labrador
Territories
2,873
1,829
725
580
18,761
2,471
461
926
87
177
94
1,205
884
402
349
3,365
821
106
231
55
79
15
Total
28,984
7,512
Province
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COMMUNITY
Taxes in Canada – fiscal year 2002
In fiscal 2002, the CIBC group of companies’ tax expense to
all levels of government in Canada exceeded $1.3 billion. This
total consisted of more than $843 million in income taxes, over
$99.9 million in capital taxes and in excess of $373 million in
payroll taxes (employer portion), business taxes, property taxes,
and GST and sales taxes.
TAXES – FISCAL 2002
CIBC group of companies
$ thousands
Income Taxes
Capital Taxes
Federal Government
$
619,849
$
–
Provincial Governments
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Quebec
New Brunswick
Nova Scotia
Prince Edward Island
Newfoundland and Labrador
Territories
$
$
$
$
$
$
$
$
$
$
$
21,051
14,437
3,673
3,988
151,970
22,710
685
3,120
402
1,271
531
$
$
$
$
$
$
$
$
$
$
$
20,475
(276)
5,757
4,714
53,034
7,968
2,050
3,761
509
1,978
–
Total
$
843,688
$
99,969
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In 2002, CIBC paid taxes to
all levels of government
including income and capital
taxes, payroll, property and
sales taxes.
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TO VIEW THE ONLINE VERSION GO TO
http://www.cibc.com/pas
Corporate Environmental Management Program
49
CIBC’s Corporate Environmental Management Program addresses corporate environmental policy
and ensures that responsible environmental conduct is promoted and practised throughout
the organization.
Environmental credit risk management
50
CIBC’s environmental credit risk management integrates the environmental risk component
into the bank’s overall credit assessment process.
Environmentally responsible procurement
51
In 2002, CIBC pursued initiatives as part of an environmentally responsible procurement process
for purchasing competitively priced and environmentally friendly products and services.
Facilities and operations management
53
CIBC’s initiatives promote environmental awareness and encourage responsible employee
conduct in support of environmental management objectives.
Donations
53
CIBC supports a number of national, regional and community-based organizations and causes
dedicated to protecting the environment.
Employee as Ambassador
56
The bank supports the volunteer efforts of its employees for worthy causes through its
Employee as Ambassador Program.
The Environment
The
Environment
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WWF Canada’s Nunavut Conservation Project works with local partners to help communities balance Arctic development
with conservation measures.
CIBC’s support of WWF Canada’s Arctic Youth and
Conservation Program offers young people the opportunity to participate in their own culture, language and
traditions through education and training programs.
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THE ENVIRONMENT
The Environment
Meeting the needs of the present without compromising the
ability of future generations to meet the needs of the future.
That is the challenge of sustainable development, the fundamental principle of environmental management. CIBC’s corporate
environmental policy supports this principle. It also confirms the
bank’s commitment to managing environmental issues effectively
to safeguard the interests of customers, employees, shareholders
and communities where CIBC does business.
CIBC is one of two Canadian banks currently included in the Dow Jones Sustainability
World Index (DJSI World), which tracks the performance of sustainability-driven
companies. DJSI World consists of more than 300 companies, representing the top
10% of leading sustainability-driven companies in 64 industry groups in 23 countries.
In addition, CIBC is a member of the Environmental Issues Committee of the
Canadian Bankers Association and a signatory to both the United Nations
Environmental Program (UNEP) Finance Institutions Statement on the Environment
and Sustainable Development and the International Chamber of Commerce
Business Charter for Sustainable Development.
The bank is also an active member of the UNEP Finance Initiatives North American
Task Force which has the objective of supporting and expanding sustainable financial practice in North America.
Corporate Environmental Management Program
CIBC’s Corporate Environmental Management Program addresses
the corporate environmental policy. The program’s objectives are
to ensure that responsible environmental conduct is promoted
and practised throughout the organization, to encourage support
in our client and vendor relationships, and to ensure that CIBC is
protected from all forms of environmental risk.
Program components include credit and investment risk management to address environmental risks inherent in CIBC’s lending and investment activities, as well as initiatives and
due diligence in the areas of procurement, facilities and operations management.
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CIBC is listed on the Dow Jones
Sustainability World Index that
tracks the performance of sustainability-driven companies
worldwide.
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THE ENVIRONMENT
In addition, CIBC donations support a wide range of environmental causes and
organizations that advocate and promote responsible stewardship in local communities across Canada. Also, the bank contributes to employee initiatives to protect
the environment through the Employee as Ambassador Program by supporting
employees who volunteer their time and energies to worthy environmental causes.
Environmental credit risk management
Managing risks inherent in CIBC’s lending activities is an important part of the Corporate Environmental Management Program’s
mandate. Environmental credit risk management was introduced
in 1991 in response to loan impairment and direct liability concerns that resulted from legislation passed in Canada, the United
States and other jurisdictions where CIBC does business.
CIBC’s approach fully integrates the environmental risk
component into the overall
credit assessment process.
CIBC’s approach has been to fully integrate the environmental risk component into
the overall credit assessment process. Throughout the 1990s, CIBC environmental
risk management developed and refined policies and processes for addressing
bank exposure in lending decisions. Environmental risk management programs,
with credit policies, guidelines and requirements covering all lending situations,
have been introduced for the small business and mid-market, and large corporate
sectors to protect the bank from these risks.
CIBC’s program has had the benefit of increasing awareness on environmental
issues, and encouraging and promoting sound environmental management practices, within its customer base.
For small business and mid-market lenders, the CIBC Environmental Risk
Management Reference Guide was developed as part of a comprehensive training
program and is now available on the CIBC intranet. The guide establishes a 10-step
process for incorporating environmental risk considerations into the evaluation of
overall creditworthiness, helping lenders to this sector quickly determine the level
of environmental due diligence required for particular credit situations, and helping
clients to understand the bank’s requirements and the importance of these issues.
In CIBC’s large corporate sector, environmental risk evaluation is a required component
of credit analysis due diligence. To support lenders in this market, CIBC environmental
risk management developed the environmental risk management process for the
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THE ENVIRONMENT
large corporate sector. This guide outlines a detailed process for addressing environmental risk with large corporate clients, covering the following major components:
• Knowledge of the borrower – analysis and understanding of financial data to
determine current and contingent environmental liabilities.
• Knowledge of the collateral – identifying past, present and projected use of
the property and acquiring an understanding of potential environmental liabilities associated with the property.
• Providing for appropriate loan agreements and security documentation –
including representations and warranties pertaining to compliance and property
conditions, with indemnification for the bank.
In addition, CIBC’s environmental risk management provides a variety of services to
support the bank’s credit risk management activities and to ensure that CIBC and its
clients adhere to the highest standards of environmental practice. These include:
• Due diligence reviews of client information, client environmental data, assessing
compliance records, interpreting consultant reports and interviewing client personnel.
• Assessment of client facilities and corporate environmental management systems.
• Advisory services for retaining environmental consulting services.
• Assisting in the structuring of credits taking account of environmental risk
management concerns.
CIBC’s environmental risk management actively participates in external forums on
sustainability issues, such as providing input to provincial regulatory agencies in the
development of brownfields redevelopment legislation. Brownfields are usually
urban commercial or industrial sites that are abandoned, vacant or under-utilized,
often due to historical environmental impairment.
Environmental risk assessment criteria are also included in guidelines governing
CIBC’s merchant banking activities.
Environmentally responsible procurement
CIBC seeks to do business with suppliers and vendors who
share the bank’s commitment of caring for the environment
and who have adopted their own policies and procedures for
mitigating environmental risk.
In 2002, CIBC pursued several initiatives as part of an evolving environmentally
responsible procurement process in an effort to purchase competitively priced,
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CIBC’s environmental risk
management provides a
variety of services to
ensure that CIBC and its
clients adhere to the
highest standards of
environmental practice.
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THE ENVIRONMENT
environmentally friendly products and services. These initiatives continued to build
upon strong business relationships with environmentally responsible suppliers
who can assist the bank in reducing the environmental impact of its operations
and services.
THESE INITIATIVES INCLUDE:
Adoption of Environmentally Responsible Procurement (ERP) guiding principles
based on the Canadian Standards Association (CSA) environmentally responsible
procurement guidelines and adapted to meet CIBC’s business environment. The
ERP guiding principles detail criteria to be incorporated into the bank’s procurement practices and decision-making processes where appropriate and applicable.
Incorporation of environmental criteria into CIBC’s standard request for proposal
process. Environmental criteria, based in part on CSA’s environmentally responsible
procurement guidelines, now constitute one of a number of criteria incorporated
in the evaluation and selection process where appropriate.
Adoption of the U.S. EPA’s EnergyStar certification criteria into the selection
process for CIBC’s desktop, laptop, monitor, printer and fax machine standards.
Incorporating these guidelines will result in a wide variety of benefits, including
preferred supplier relationships based on a shared commitment to the environment, and greater use of environmentally friendly products and services that are
energy efficient, made of reusable or recyclable materials, contain minimal and
recyclable packaging, and are free of hazardous substances.
For example, the overwhelming majority of desktops, laptops, monitors, printers,
copiers and fax machines purchased by CIBC in 2002 met the certification requirements for the U.S. EPA’s EnergyStar Program for energy efficiency and carbon dioxide reduction. Further, CIBC encourages the re-use of de-commissioned computer
technology as a participant in the Computers for Schools Program, a federal government initiative that provides Canadian schools and libraries with computers free
of charge.
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THE ENVIRONMENT
Facilities and operations management
CIBC maintains an internal employee website and also undertakes formal self-assessment processes and other initiatives to
promote environmental awareness and to encourage responsible
conduct by all of its employees in supporting environmental
management objectives.
As a property owner and the anchor tenant in large office complexes across Canada,
CIBC recognizes the importance of working both directly and in partnership with
facility managers and third-party service providers to champion environmental
responsibility and to promote environmental stewardship practices among employees. In conjunction with its landlords and property managers in major buildings, the
bank develops and maintains metrics to promote, measure and improve energy and
water conservation and the effectiveness of programs, such as recycling of paper and
other consumables, in these locations and throughout its extensive branch network.
Donations
CIBC supports a number of national, regional and community-
based organizations and causes dedicated to protecting and
conserving the environment.
IN 2002, THE BANK CONTRIBUTED TO A VARIETY OF CHARITABLE ORGANIZATIONS,
INCLUDING:
Computers for Schools – Computers for Schools (CFS) is a national, federal governmentled program that operates in co-operation with the private and volunteer sectors in all
of Canada’s provinces and territories. It collects, repairs and refurbishes donated
surplus computers from government and private sector sources and redistributes
them to schools and libraries across the country, while reducing the environmental
impacts commonly associated with the disposal of redundant electronic equipment.
During 2002, CIBC contributed 351 CPUs, 492 monitors and 99 printers to the
organization, a fair market value of $137,000. Since Computers for Schools was
founded in 1993, CIBC has been the largest corporate supporter, contributing a
grand total of 9,925 CPUs, 7,396 monitors, 350 printers, 225 laptops and 4,700
miscellaneous electronic devices.
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CIBC works with its facility
managers and third-party service
providers to champion environmental responsibility and
employee practices.
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THE ENVIRONMENT
CIBC’s support of WWF
Canada’s Arctic Youth and
Conservation Program
and the Nunavut
Conservation Project
promotes conservation and
assists local communities
in Canada’s Arctic.
World Wildlife Fund Canada Arctic Program – CIBC’s three-year, $180,000 donation to World Wildlife Fund (WWF) Canada supports the Arctic Youth and
Conservation Program and the Nunavut Conservation Project, two initiatives
designed to support local communities in Canada’s Arctic. The Arctic Youth and
Conservation Program offers young people the opportunity to participate in their
own culture, language and traditions through educational programs and training
opportunities provided by WWF Canada, as well as other web-based initiatives.
The Nunavut Conservation Program is an ongoing WWF Canada initiative that supports local communities by balancing Arctic development with strong conservation
measures. These include the establishment of a network of protected areas on land
and the ocean, careful management of wild animal populations, minimizing the
threat of pollution, and engaging youth in a variety of conservation, education and
outreach programs.
PROFILE
Peter Ewins, Director, Arctic Conservation: Toronto, Ontario
WWF CANADA
Over the years, WWF Canada has successfully drawn attention to the importance
of conservation of this wilderness by introducing the idea into traditional beliefs
and practices in the habitat and working with local communities to reinforce it.
With CIBC’s ongoing support, WWF Canada is focusing its conservation efforts
on Nunavut, the last truly undeveloped area of the Canadian Arctic.
“We want to share the conservation lessons learned elsewhere, so the same mistakes are not repeated,” says Peter Ewins, WWF Canada’s Director of Arctic
Conservation. The Nunavut Conservation Program works with local partners to help
communities balance Arctic development with strong conservation measures for
protecting the land, the ocean and for managing animal populations. Youth education is a key priority. Youth conservation “on the land” camps, run during the year
in small groups, help young people appreciate conservation and its role in maintaining the integrity of the environment and creating a sustainable future.
WWF Canada’s conservation programs are targeted at Nunavut because “we see
the need and the return potential being the greatest there,” says Ewins. By supporting initiatives that strengthen Nunavut’s cultural connection to the land, CIBC
is actively helping these Northern communities to build a future that is fundamental
to their survival.
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THE ENVIRONMENT
The Nature Conservancy of Canada – The Nature Conservancy of Canada (NCC) is
a not-for-profit, non-advocacy organization dedicated to land conservation and
wildlife preservation to create a lasting natural legacy for the people of Canada.
Since 1962, the NCC has conserved more than 1.7 million acres of land nationwide. CIBC’s $200,000 commitment over four years will help advance conservation
at more than 50 of Canada’s most ecologically important sites. It will also help NCC
work with communities across the country to protect habitats and species for
future generations and build a natural heritage for Canada.
Youth Challenge International – With CIBC’s financial support, Youth Challenge
International’s Greening High Schools Program expanded across the country in
2002, providing environmental education and conservation activities, and developing community and leadership building skills in high schools, youth groups and
clubs. The program will be driven by youth and will directly involve over 1,000 high
school students, as well as teachers, parents and community members.
The Nature Conservancy of
Canada has conserved more
than 1.7 million acres of land
nationwide.
Essex Region Conservation Authority (ERCA) – CIBC’s $6,000 donation to the Essex
Region Conservation Authority renews the bank’s support of this program, which
consists of several initiatives to educate local youth about conservation and to
help create and maintain a healthier, life-enriching environment. This donation
assists in providing ‘Conservation Education’ programs and hands-on environmental exploration to nearly 10,000 students and youth groups like Guides and Scouts.
Toronto Zoo Foundation – CIBC donated $100,000 to the “Window to the Wild”
campaign, which will help improve the Children’s Wild Life Discovery Centre by
adding wet and dry play areas, an amphitheatre for animal demonstrations, school
and teacher education facilities, as well as a backyard conservation area.
Vancouver Aquarium Marine Science Centre – CIBC donated $100,000 over five
years to the Vancouver Aquarium Marine Science Centre, home to a diverse group
of aquatic animals from around the world, which shares its philosophy of conservation with visitors and the surrounding community. The “Year of the Ocean“ capital campaign is funding projects that focus on Canada’s Pacific Ocean
environments and the B.C. Salmon Story. CIBC’s support will go to educational
programs created primarily for youth.
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CIBC supported the Children’s
Wild Life Discovery Centre at the
Toronto Zoo.
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THE ENVIRONMENT
Employee as Ambassador
CIBC supports its employees who volunteer for worthy envi-
ronmental causes and organizations and contributes to these
efforts through the Employee as Ambassador Program.
IN 2002, SOME OF CIBC’S EMPLOYEE AMBASSADORS INCLUDED:
PROFILE
Ross Gage, Retiree: Stonewall, Manitoba
OAK HAMMOCK INTERPRETIVE CENTRE
Since his retirement in 1998, Ross Gage has devoted much of his energy and spare
time helping to run Oak Hammock Interpretive Centre, an educational facility jointly
managed by Ducks Unlimited Canada and the Province of Manitoba. Nestled on
the edge of Oak Hammock Marsh, a designated wetland site of international significance, the centre is dedicated to fostering public awareness and knowledge of
the inherent values at Oak Hammock Marsh and marshalling public support for a
number of conservation programs.
CIBC’s Employee as
Ambassador Program recognizes that employees who
volunteer their time are doing
something important for
their communities.
Last year, this included a songbird-banding project that was funded, in part,
through the Employee as Ambassador Program. Over a period of time, local songbirds are caught, banded and released to track their migration. The Oak Hammock
study is part of a larger network of similar songbird projects located at different
sites across the country, so that when the birds are re-caught, their overall patterns
of activity can be catalogued and analysed.
For Gage, the Employee as Ambassador Program is recognition by the bank that
employees who volunteer their time are doing something important for their communities. It also helps Oak Hammock to move forward and make real progress.
“And that,” he says, “is very good for our environment.”
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THE ENVIRONMENT
PROFILE
Vernon Whynot, Retiree: New Germany, Nova Scotia
ANNAPOLIS VALLEY-SOUTH SHORE RECREATIONAL TRAIL ASSOCIATION
Vernon is the outdoors type. So, when he heard about the “Rails to Trails” project
in his community to turn disused rail beds into recreational trails, it was only natural that he would become involved. He was soon elected secretary of the local
association charged with getting the trails in shape so that they could be a valued
community resource for use by everybody. In the initial phase of the undertaking,
work is underway to clear 18 kilometres and resurface a total of 10 bridges with
new decks and rails. The Employee as Ambassador Program has helped to get the
project off the ground with a welcome contribution towards tools and materials needed for the job. Now it’s up to the volunteers.
“It’s great that retired people can get support for volunteer work. I spend a lot of
time volunteering in my community and this definitely helps,” says Vernon.
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The Employee as
Ambassador Program
helped get “Rails to Trails”
off the ground.
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TO VIEW THE ONLINE VERSION GO TO
http://www.cibc.com/pas
Affordable
Accessible
Banking
62
CIBC is listening to customers and adjusting its branch and electronic networks to meet shifting demands and changing needs.
President’s Choice Financial
64
CIBC extended its commitment to provide a quality low-cost electronic option in select grocery
stores across Canada.
ABMs
66 Special needs
71
CIBC offers the largest ABM network in Canada with more than 4,300 machines nationwide.
In 2002, CIBC launched a number of key initiatives to better serve customers who are senior
citizens, people with disabilities and individuals with modest incomes.
Aboriginal banking
74
CIBC serves Aboriginal Peoples, their businesses and communities through our offer of personal
and commercial financial products and services.
CIBC Ombudsman
75
The CIBC Ombudsman serves as an objective intermediary to help personal and small business
customers resolve their concerns.
Affordable Accessible Banking
Branches
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CIBC celebrated Diversity Month on National Aboriginal Day at a colourful event with Aboriginal Drum and Dance
at Commerce Court in Toronto.
We understand that to meet the needs of Aboriginal
Peoples, we must begin by building effective relationships with each community and by improving their
access to financial services.
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AFFORDABLE ACCESSIBLE BANKING
Affordable Accessible Banking
CIBC customers want banking products and services that are
affordable and accessible. They want greater choice, more convenience and the freedom to select the channel of access that
works best for them. In 2002, CIBC continued to respond to the
needs of customers with service innovations throughout the
bank’s branch and electronic banking networks.
HERE ARE SOME OF THE SMART SIMPLE SOLUTIONS AVAILABLE TO CIBC CUSTOMERS
IN 2002:
Faster branch banking – CIBC completed the implementation of its $92.3 million
investment in branch technology upgrades to improve service by making it easier
for branch staff to serve their customers.
Simpler, more affordable accounts – CIBC offered one chequing account, the
Waive Account™, for daily banking – $4 per month for up to 12 transactions and
when a minimum monthly balance of $1,000 was maintained, daily banking fees
were waived; and one savings account, the CIBC Premium Growth Account™, that
paid the bank’s most competitive interest rates. Both accounts paid interest.
ABMs with greater functionality – CIBC upgraded its network infrastructure to add
functions to more than 150 machines, with plans to upgrade a further 1,000 units in
2003, to allow customers to do more of their banking through the ABM. In addition,
the bank introduced 27 CIBC Audio Access™ ABMs. CIBC continues to operate the
largest financial institution-owned ABM network, providing CIBC customers with the
greatest accessibility to banking services.
Easier online banking – CIBC revamped its Online Banking and Investor’s Edge™
websites, adding greater transaction capability and making them more user friendly.
Online Banking customers can now access mortgage details, and apply for and obtain
a mortgage online. Investor’s Edge customers can buy and sell stocks and mutual
funds, get real-time quotes, track their portfolios and review their transactions.
E-mail money transfer – Personal customers now have the convenience of transferring money by e-mail, using a secure network developed through our arrangement
with Certapay Inc. and other major Canadian banks.
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CIBC is responding to
customers with Smart Simple
Solutions to meet their
banking needs.
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AFFORDABLE ACCESSIBLE BANKING
More affordable mortgages – Customers can choose between the variable-rate
CIBC Better Than Prime Mortgage™ or the fixed-rate CIBC Better Than Posted
Mortgage™.
Faster, more powerful telephone banking – CIBC introduced speech-recognition
technology and improved customer interaction skills to contribute to the highest
telephone banking customer satisfaction rating in Canada.
More banking choice – Through Amicus Bank, a member of the CIBC group of
companies, CIBC expanded its retail banking offer. In 2002, 212 President’s Choice
Financial services pavilions operated in grocery stores in select locations across
Canada through our strategic alliance with Loblaw Companies Limited.
CIBC’s initiatives have
contributed to the highest
telephone banking customer
satisfaction rating in Canada.
Branches
CIBC customers’ financial needs and banking preferences are
changing. More and more, they are complementing their traditional in-branch banking visits with electronic transactions
made at ABMs, through telephone banking or online. CIBC is
listening and is in the process of adjusting its branch and electronic networks to meet the shifting demand and changing
needs of customers.
Changes in CIBC’s branch distribution are determined through detailed market
analysis and assessment of prevailing trends of customer behaviour. Depending on
these patterns, branches may be opened or closed in order to meet the needs of
CIBC customers more effectively. In 2002, CIBC opened one branch and closed 31
for a year-end total of 1,139.
WHEN A BRANCH IS CLOSED, CIBC TAKES THE FOLLOWING STEPS TO PROTECT THE
INTERESTS OF THE COMMUNITY, OUR CUSTOMERS AND EMPLOYEES:
•
•
•
•
Six months’ notice is given for a rural closure, four months for an urban closure.
CIBC informs the community, including customers, community leaders, politicians
and employees and keeps them advised of all the steps being taken.
The bank works with individual customers and groups to identify their needs
and to assist in the development of alternative arrangements.
CIBC helps displaced staff find new positions within the organization. In 2002,
the bank made every effort to assist employees who were affected by branch
closures to relocate within the bank.
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AFFORDABLE ACCESSIBLE BANKING
CIBC BRANCH OPENINGS – FISCAL 2002
Manitoba
• 87-333 St. Mary Ave., Winnipeg
CIBC IMPERIAL SERVICE CENTRE OPENINGS – FISCAL 2002
Alberta
• 8215 – 112th St.,
20th Floor, College Plaza, Edmonton
Manitoba
Ontario
• 375 Main St., 5th Floor,
One Lombard Place, Winnipeg
• 2 Bloor St. W, 5th Floor,
Yonge and Bloor, Toronto
bizSmart OPENINGS – FISCAL 2002
British Columbia
• 1600 – 15th Ave., Unit #206,
Prince George
New Brunswick
• 125 Trinity Dr., Moncton
Prince Edward Island
• 655 University Ave., Charlottetown
• 176 Rothesay Ave., Saint John
Newfoundland
Alberta
Nova Scotia
• 3030 32nd Ave. NE, Calgary
• 202 Brownlow Ave., Dartmouth
• 9580 – 170th St., Edmonton
• 215 Chain Lake Dr., Unit A,
Halifax
• 13118 – 50th St., Edmonton
• 150 Old Placentia Rd., Mount Pearl
On November 7, 2002, CIBC announced it was ceasing the operations of bizSmart.
BRANCH CLOSINGS – FISCAL 2002
British Columbia
• 220A Main St., Hwy 23, Atwood
Ontario
• 256 Cooper St., Greenwood
• 3226 Weston Rd., North York
• 651 Florence St., Midway
• 837 Wilson Ave., North York
• Robinson St. & Wellington St.,
Port Burwell
• 172 Queensway, Toronto
• Patrick St., Fordwich
• 623 Mount Pleasant Rd., Toronto
• 34 First Ave., Schumacher
• 345 Bloor St. W, Toronto
• Hwy 19, Straffordvillle
• 175 Avenue Rd., Toronto
• 168 Laurier Ave. W, Ottawa
Alberta
• 7724 Elbow Dr. SW, Calgary
Manitoba
• 375 Main St., Winnipeg
• Unit 14, Town Centre, Leaf Rapids
• 321 Graham Ave., Eaton Place,
Winnipeg
• 400 St. Mary Ave., Winnipeg
• 55 Nassau St., Winnipeg
• 151 Bloor St. W, Toronto
• 334 Bloor St. W, Toronto
Quebec
• 1 Yonge St., Toronto
• 105 Springer Blvd., Chapais
• 1170 Burnhamthorpe Rd.,
Mississauga
• 90 Principales, North Hatley
• 800 René-Lévesque Blvd. W, Montreal
• 936 Simcoe St., Oshawa
• Mill St., Dublin
• 220 Winstanley St., Monkton
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New Brunswick
• Main St. & Centennial Rd., Fredericton
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AFFORDABLE ACCESSIBLE BANKING
President’s Choice Financial
In 2002, CIBC extended its commitment to provide a quality
low-cost electronic banking option to Canadians. President’s
Choice Financial, a strategic alliance between Amicus Bank, a
member of the CIBC group of companies, and Loblaw
Companies Limited, offers customers no-fee daily banking,
higher interest on savings, lower-cost borrowing and mortgages to meet their financial needs.
In Canada, there are currently 212 President’s Choice Financial pavilions located in
select Loblaw Companies Limited stores across the country. They are equipped
with multi-functional ABMs, computers with Internet access to customer accounts
and telephones connected directly to customer associates who are available to
serve clients 24 hours a day, seven days a week.
What Customers Are Saying About President’s Choice Financial
“The whole concept of President’s Choice Financial is excellent and I am most
definitely a fan.”
– K. Freeman
CIBC extended its commitment to provide quality
low-cost electronic banking
options to Canadians.
“I must congratulate the people at President’s Choice Financial. You have provided
the most convenient banking I have ever had access to.”
– M. Hutcheon
PROFILE
Mike Spero: President, Amicus Bank
PRESIDENT’S CHOICE FINANCIAL
What happens when you combine one of Canada’s lowest-cost consumer banking
platforms with a leading grocery brand? You get President’s Choice Financial, a
financial services value package from Amicus Bank, a member of the CIBC group
of companies, and Loblaw Companies Limited.
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President’s Choice Financial offers a unique set of financial products and services
available electronically through ABMs, telephone banking and the Internet that
are all geared to save customers time and money. ”This is discount banking for people who are willing to do it themselves,” says Mike Spero, president of Amicus Bank.
“Our electronic platform lets us take the savings and pass them on to the consumer.”
The partnership certainly makes money sense to customers looking for a banking
alternative in the market. In just over four years, 1.05 million customers have tuned
in to the value that President’s Choice Financial offers and the numbers keep
growing. “We are responding to a need in the marketplace to provide self-service
banking at self-service prices,” says Spero. “We’re listening to our customers
and making a difference on price.”
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P U B L I C A C C O U N T A B I L I T Y S T AT E M E N T 2 0 0 2
President’s Choice Financial
pavilions are equipped with multifunctional ABMs, computers with
Internet access to customer
accounts and telephones connected
directly to customer associates
who are available 24/7.
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AFFORDABLE ACCESSIBLE BANKING
ABMs
With over 330 million transactions taking place every year,
CIBC’s ABM channel is the most popular banking connection
point for the bank’s customers. At fiscal year-end 2002, CIBC
continued to offer customers the largest ABM network in
Canada, with more than 4,300 machines in branch and nonbranch locations across the country.
In addition to providing customers access to over 2,190 ABMs in branches nationwide, CIBC offers banking convenience through ABMs displaying the CIBC logo at
almost 2,000 non-branch locations, including 7-Eleven stores, participating Mac’s
Convenience Stores, Petro-Canada and Ultramar locations and various independent
convenience stores. Also, CIBC deposit account holders can withdraw cash at any
of the 263 President’s Choice Financial bank machines across the country at the
same cost (if a fee applies to the withdrawal) as any withdrawal at a CIBC ABM.
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ABM Installations – 2002
British Columbia
• 904 Davie St., Vancouver
• 6001 Grant McConachie Way,
Richmond
• 4755 Kingsway, Burnaby (2)*
• 3749 Shelburne St., Victoria
• 2515 Hemlock St., Vancouver
• 264 Newport Dr., Port Moody
• 2801 10th Ave NE, Salmon Arm
• 4152 Redford St., Port Alberni
• 801 Marine Dr., North Vancouver
• Guilford Town Centre, Surrey
• 6435 Metral, Nanaimo
• 8985 120th St., Delta
• 20370 Dewdney Trunk Road,
Maple Ridge
• 1523 Prairie Ave., Port Coquitlam
• 15961 Fraser Hwy, Surrey
• 4301 25th Ave., Vernon
• 4709 27th St., Vernon
• 2435 Millstream Rd., Victoria
• 1210 Summit Dr., Kamloops
• 265 Menzies Ave., Victoria
• 3393 Douglas St., Victoria
• 232nd St., Maple Ridge
• 1125 Denman St., Vancouver
Alberta
•
•
•
•
•
•
•
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•
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•
•
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15430 Stony Plain Rd, Edmonton
6645 118th Ave. NW, Edmonton
10832 102nd Ave., Edmonton
200 9A Ave., Edmonton
16703 100th St. NW, Edmonton
1704 61 St. SE, Calgary
730 – 8th St., Canmore
10100 Southport Rd. SW, Calgary
420 Allen St Bay, Red Deer
#100 4302 50th St., Leduc
15399 Castledowns Rd. NW,
Edmonton
905 1st Ave. NW, Airdrie
2204 19th St., Nanton
37553 Highway #2 S, Red Deer
1120 137th Ave. SE, Calgary
1731 Mountain Ave., Canmore
•
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4916 50th Ave., Leduc
336 58th Ave. SE, Calgary
6525 Elbow Dr. SW, Calgary
1819 3rd Ave. South, Lethbridge
1071 Ross Glen Dr., Medicine Hat
#100 11488 24th Street SE,
Calgary
#26 140 East, Chestermere
355 Southridge Dr. SE, Medicine Hat
5111 Northland Dr. NW, Calgary (2)*
3945 34th St. NW, Edmonton
230 Lynx St., Banff
Saskatchewan
• 3 Worobetz Place, Saskatoon
• 2965 Gordon Rd., Regina
Manitoba
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1180 Springfield Rd., Winnipeg
33 Allen Dyne Rd., Winnipeg
45 Gilson St., Winnipeg
87 333 St. Mary’s Ave., Winnipeg (3)*
447 Portage Ave., Winnipeg
Ontario
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2064 Rutherford Rd., Concord
1 Commerce Valley Dr. E, Markham
450 Leitz Rd., Midland
180 Columbia St. W, Waterloo
8133 Warden Ave., Markham
580 Weber St. N, Waterloo
1236 Algonquin Ave., North Bay
2400 Eglinton Ave. W, Toronto
345 Bloor St. E, Toronto
27 Talbot St. N, Blenheim
93 Bolton St., Bobcaygeon
2121 Carling Ave., Ottawa (3)*
656 Dundas St., Woodstock
1980 Ogilvie Rd., Gloucester (3)*
33 Molson Dr. W, Barrie
1280 Main St. W, Hamilton
245 Carlton St., Toronto
3050 Garden St., Whitby
3198 Sandwich St. W, Windsor
2 Bloor St. W, Toronto (2)*
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•
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5600 Yonge St., North York
1320 Walker Rd., Windsor
211 Broad St East, Dunnville
926 Paisley, Guelph
5565 Wyandotte St. East,
Windsor
59 Arthur St. W, Thornbury
412 Lyndock St., Corunna
1179 Bayfield St. N, Midhurst
11670 Hurontario St., Brampton
3500 Brock St., Whitby
62 Stonehaven Dr., Kanata
7235 Bellshire Gate, Mississauga
388 Elgin St., Ottawa
9150 Riverside Dr. E, Windsor
2165 Grosvenor St., Oakville
401 Main St., Atikokan
400 Kent St. W, Lindsay
3201 Greenbank Rd., Nepean
5010 Glen Erin Dr., Mississauga
620 Yonge St., Barrie
750 Ottawa St., Kitchener
4319 King St. E, Kitchener
650 Fanshawe Park Rd. W, London
7400 Tecumseh Rd., Windsor
2295 Division Rd., Windsor
1755 Albion Rd., Etobicoke
545 Queen St. S, Bolton
9980 Mississauga Rd., Norval
3075 Don Mills Rd., North York
3320 Fallowfield Rd., Nepean
1270 Brimley Rd., Scarborough
2329 Stouffville Side Rd., Gormley
450 Fairview Dr., Brantford
504 Main St., Brampton
1200 Walkers Line N, Burlington
324 Stone Rd. W, Guelph
2100 Burnhamthorpe Rd W,
Mississauga
7015 Kennedy Rd., Mississauga
50 Tecumseh Rd. W, Windsor
1487 Centre St., Thornhill
363 Ontario St., Port Hope
2 East Mall Cres., Toronto
1190 Barrydown Rd., Sudbury
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Ontario (continued)
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6990 Hurontario St., Mississauga
18151 Yonge St., Newmarket
474 Bayly St. W, Ajax
3351 Bayview Ave., North York
475 Hwy 6, Clappison Corners
2900 Finch Ave. E, Scarborough
1525 Markham Rd., Scarborough
385 Weston Rd., Toronto
3011 Wolfedale Rd., Mississauga
1299 Kingston Rd., Pickering
458 Guelph Line N, Burlington
555 Whites Rd., Pickering
685 Appleby Line, Burlington
450 Dundas St. E, Oakville
4780 Highway 7 E, Unionville
695 Major Mackenzie Dr.,
Richmond Hill
239 Fountain St. S, Cambridge
6009 Hurontario St., Mississauga
7995 Dixie Rd., Brampton
6521B Hwy 62, Belleville
7654 Tecumseh Rd. W, Windsor
161 Bay St., Toronto
900 Dufferin St., Toronto
115 Delhi St., Guelph
715 Wellington St., Guelph
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463 Falconbridge Rd., Sudbury
62 Main St. E, Grimsby
1501 Regional Road 24, Pelham
22 Bridge St., Bradford
2317 St. Clair Ave. W, Toronto
333 Hwy 20 South, Stoney Creek
178 Brant Rd., St. George
1598 16th St. E, Owen Sound
110 Beckwith St. N, Smith Falls
800 Stonehaven Dr., Kanata
3030 Birchmount Ave., Scarborough
1 Kennedy Rd. S, Brampton
1050 Simcoe St. N, Oshawa
189 Elm St., St. Thomas
46 General Hospital Dr., Stratford
101278 Hurontario St. Brampton
1183 Pinecrest Rd., Ottawa
825 Walkers Line, Burlington
32 Cootes Dr., Dundas
1020 Dundas St., Oakville
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7991 Mississauga Rd., Brampton
570 Terry Fox Dr., Kanata
2011 Highway 11, Gravenhurst
195 Niagara St. N, St. Catharines
1175 Wonderland Rd., London
1253 Wellington Rd., London
341 Bayfield St., Barrie
1465 Princess St., Kingston
5739 Hwy 7, Markham
2125 Sheppard Ave. E, Scarborough
514 Victoria St., Alliston
1977 Kennedy Rd., Scarborough
250 Mullock Dr., Newmarket
1960 Innes Rd., Gloucester
Quebec
• 4270 1 Charlesbourg Ave.,
Charlesbourg
• 175 Principale St., Cowansville
• 1155 René-Lévesque Blvd. W,
Montreal
• 1254 Beaumont Place, Mont-Royal
• 1497 5e Ave., Shawinigan-Sud
• 102 Church St., Cowansville
• 75 Eardley Rd., Aylmer
• 8485 Viau Blvd., St. Leonard
• 1380 Lemire Blvd. (RR#4),
Drummondville
• 5000 Lorimieres Blvd., Les Soules
• 22 Arthur Sauve Blvd., St. Eustache
• 231 Ouimet St., St. Jovite
• 1700 Montarville St., Saint-Bruno
• 1193 Marcotte St., Roberval
• 1563 St. Sacrement, Shawinigan
• 1000 80th St. E, Charlesbourg
• 213 Notre Dame Blvd., Repentigny
• 7101 Jarry St. E, D’Anjou
• 780 St. Laurent Blvd., Longeuil
• 1065 LaFleche Blvd., Baie-Comeau
• 555 Albiny Paquette Blvd.,
Mont-Laurier
• 90 Gamble St. W,
Rouyn-Noranda
• 71 Principale St. S, Amos
• 905 Laure Blvd., Sept. Isles
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• 13200 Sherbrooke St. E,
Pointe Aux Tremble
• 5110 Denis St., Montreal
• 190 St. Redempteur, Hull
• 400 de la Seigneurie, Blainville
• 180 Cremazie Blvd. W, Montreal
• 10288 Papineau St., Montreal
• 8015 Henri Bourassa Blvd.,
Montreal
New Brunswick
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44 King St., Saint John
1142 Smythe St., Fredericton
577 Victoria St., Edmundston
17 Centennial Ave., Stanley
2995 Fredericton Rd., Salisbury
Nova Scotia
• 32 Church St., Amherst
• 185 Main St., Antigonish
• 959 Cole Harbour Rd.,
Cole Harbour
• 11 Keltic Dr., Sydney River
• 470 Main St., Kingston
• 105 Main Street, Dartmouth
• 231 Herring Cove Rd., Halifax
• 300 South St., Glace Bay
• 566 Main St., Dartmouth
• 626 Windmill Rd., Dartmouth
• 1515 Main St., Eastern Passage
Newfoundland and Labrador
• 36 Blackmarsh Rd., St. John’s
Northwest Territories
• 134 MacKenzie Rd., Inuvik
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AFFORDABLE ACCESSIBLE BANKING
ABM Removals – 2002
British Columbia
• 300 – 32700 South Fraser Way,
Abbotsford
• 4739 Willingdon Ave., Burnaby
• 1270 Elm St., Campbell River
• 1801 Columbia Ave., Castlegar
• 46020 Yale Rd., Chilliwack
• 2701 Driftwood Mall, Courtenay
• 526 Cumberland Rd., Courtenay
• Tsawwassen Terminal Building, Delta
• 7015 – 120th St., Delta
• 1197 – 56th St., Delta
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361 Trans-Canada Hwy., Duncan
116 Station St., Duncan
501 2nd Ave., Fernie
256 Cooper St., Greenwood
3435 Westsyde Rd., Kamloops
1210 Summit Dr., Kamloops
1835 Gordon Dr., Kelowna
1876 Cooper Rd., Kelowna
328 Bernard Ave., Kelowna
33165 – 1st Ave., Mission
402 Broadway St., Nakusp
190 Nicol St., Nanaimo
680 Trans Canada Hwy., Nanaimo
1501 Estevan Rd., Nanaimo
650 South Terminal Ave., Nanaimo
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7015 – 120th St., North Delta
216 Westminster Ave. W, Penticton
2111 Main St., Penticton (2)*
3053 Massey Dr., Prince George
102 7020 Francis Rd., Richmond
8100 Cambie Rd., Richmond
7819 East Saanich Rd., Saanichton
Swartz Bay Terminal Building, Sidney
13482 Surrey Place Mall, Surrey
1641 – 152nd St., Surrey
10312 King George VI Hwy., Surrey
212 Main St., Ucluelet
4050 Fraser St., Vancouver
2803 West 4th Ave., Vancouver
1580 Robson St., Vancouver
Hastings Park Racecourse, Vancouver (2)*
871 Denman St., Vancouver
• 505 Burrard St., Vancouver
• 4900 – 27th St., Vernon
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1175 Douglas St., Victoria (2)*
225 17th St., West Vancouver
Hwy. 97 S, Westbank
10051 Highway 97, Winfield
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181 Freedman Cres., Winnipeg
321 Graham Ave., Winnipeg (3)*
2866 Pembina Hwy., Winnipeg
1797 Logan Ave., Winnipeg
Alberta
Ontario
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102 – 790 Coventry Dr., Calgary
100 Anderson Rd. SE, Calgary
3715 51st St. SW, Calgary
2580 Southland Dr. SW, Calgary
7724 Elbow Dr. SW, Calgary (2)*
5055 Shaganappi Trail NW, Calgary
10100 Southport Rd. SW, Calgary
105 – 3rd Ave. W, Drumheller
7108 109th St., Edmonton
6735 118th Ave., Edmonton
16434 87th Ave., Edmonton
8065 – 104th St. NW, Edmonton
4205 – 23rd Ave., Edmonton
16806 – 118th Ave. NW, Edmonton
644 Riverbend Sq., Edmonton
137th Ave., Edmonton
89th Ave., Edmonton
163 – 24th St., Fort Macleod
403 – 1st St. W, High River
1071 Ross Glen Dr., Medicine Hat
5100 – 50th St., Stony Plain
Saskatchewan
•
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•
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•
204 Main St. N, Moose Jaw
3950 Albert St., Regina
258 University Park Dr., Regina
2032 Park St., Regina
1215 Central Ave., Saskatoon
307 Confederation Dr., Saskatoon (2)*
307 Central Ave. N, Swift Current
Manitoba
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270 18th St., Brandon
803 Rosser St., Brandon
121 Main St. N, Dauphin
Unit 14 Town Centre, Leaf Rapids
7 Saskatchewan Ave. E, Portage la Prairie
358 Main St., Stonewall
1515 Portage Ave., Winnipeg
45 Gilson St., Winnipeg
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48 Richmond St., Amherstburg
63 Stanley St., Ayr
289 Yonge St., Barrie
27 Talbot St. N, Blenheim
2 King St. E, Bowmanville
16 Lisa St., Brampton
499 Main St. S, Brampton
930 North Park Dr., Brampton
27 Queen St., Cambridge
250 Dundas St. S, Cambridge
7 Norfolk Ave., Cambridge
200 – E Preston Parkway, Cambridge
567 King St. E, Cambridge
445 Richmond St., Chatham
412 Lyndock St., Corunna
103 Main St., Dresden
1500 Royal York Rd., Etobicoke
172 The Queensway, Etobicoke
3835 Bloor St. W, Etobicoke
1980 Ogilvie Rd., Gloucester (4)*
494 York Rd., Guelph
191 Silvercreek Pkwy., Guelph
Hwy #6, Hagersville
276 Guelph St., Halton Hills
649 Upper James Rd., Hamilton
237 Barton St. E, Hamilton
711 Concession St., Hamilton
1882 King St. E, Hamilton
1200 Main St. W, Hamilton (2)*
1280 Main St. W, Hamilton
500 Palladium Dr., Kanata
700 Eagleson Rd., Kanata
366 Victoria St. N, Kitchener
556 Stirling Ave., Kitchener
700 Strasburg Rd., Kitchener
2960 Kingsway Dr., Kitchener
69 Erie St., Leamington
55 Angeline Rd. N, Lindsay
477 Dundas St., London
1088 Adelaide St. N, London
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Ontario (continued)
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1299 Oxford St. E, London
1201 Oxford St. W, London
983 Wonderland Rd., London
5000 Highway 7 E, Markham
1661 Denison Rd., Markham
3441 Fieldgate Dr., Mississauga
705 Matheson Blvd. E, Mississauga
100 Queensway W, Mississauga
4040 Creditview Rd., Mississauga
4141 Dixie Rd., Mississauga
1161 Dundas St. E, Mississauga
4099 Erin Mills Pkwy., Mississauga
1170 Burnhamthorpe Rd.,
Mississauga (2)*
1 City Centre Dr., Mississauga (2)*
300 City Centre Dr., Mississauga
2670 Erin Centre Blvd., Mississauga
185 Corkstown Rd., Nepean
100 Constellation Cres., Nepean
120 Robertson Rd., Nepean
3777 Strandherd Dr., Nepean
54 Davis Dr., Newmarket
7555 Montrose Rd., Niagara Falls
2866 Dufferin St., North York
3863 Jane St., North York
3940 Keele St., North York
3324 Keele St., North York
3226 Weston Rd., North York
1700 Wilson Ave., North York
837 Wilson Ave., North York (2)*
5255 Yonge St., North York
750 Lawrence Ave. W, North York
2 McDonald’s Place, North York
240 Leighland Ave., Oakville
511 Maple Grove Dr., Oakville
125 Cross Ave., Oakville
1675 – 10th Line Rd., Orleans
1615 Orleans Blvd., Orleans
5153 Main St., Orono
936 Simcoe St. N, Oshawa (2)*
2 Simcoe St. S, Oshawa
1339 Baseline Rd., Ottawa
168 Laurier Ave. W, Ottawa (2)*
1800 Bank St., Ottawa
2121 Carling Ave., Ottawa
80 Dufferin St., Perth
2 Mohns Ave., Petawawa
194 Lansdowne St. E, Peterborough
• Robinson St., Port Burwell (2)*
• 300 West Beaver Creek Rd.,
Richmond Hill
• 2059 Victoria Park Ave., Scarborough
• 371 Old Kingston Rd., Scarborough
• 63 Main St. S, Seaforth
• 5 Norfolk St. S, Simcoe
• 574 Carlton St., St. Catharines
• 2851/2 Geneva St., St. Catharines
• 575 Churchill Ave., Sudbury
• 48 Arthur St. W, Thornbury
• 705 Queen St. E, Toronto
• 19 Waterman Ave., Toronto
• 1 Yonge St., Toronto
• 151 Bloor St., Toronto (2)*
• 2400 Eglinton Ave. W, Toronto (3)*
• 345 Bloor St. E, Toronto (3)*
• 175 Avenue Rd., Toronto
• 892 Bloor St. W, Toronto
• 334 Bloor St. W, Toronto (3)*
• 90 Danforth Ave., Toronto
• 25 King St. W, Toronto (5)*
• 623 Mount Pleasant Rd., Toronto (3)*
• 1164 St. Clair Ave. W, Toronto
• 161 Bay St., Toronto
• 160 Wellesley St. E, Toronto
• RR#1 Wooler Rd., Trenton
• 91 Dundas St. W, Trenton
• 76 Main St., Vankleek Hill
• 320 McArthur Ave., Vanier
• 8535 Highway 27, Vaughan
• 381 Main St. S, Waterford
• 75 King St. S, Waterloo
• 22 King St., Welland
• 5050 Tecumseh Rd. E, Windsor
Quebec
•
•
•
•
•
•
•
•
5355 Milan Blvd., Brossard
78 Principale St., Granby
16791 Trans Canada Hwy., Kirkland
308 Knowlton Way, Knowlton
1020 Taschereau Blvd., La Prairie
1040 des Laurentides, Laval
1545 Le Corbusier Blvd., Laval (2)*
1133 Saint-Catherine St. W,
Montreal
• 800 René-Lévesque Blvd. W, Montreal (2)*
• 1155 René-Lévesque Blvd. W, Montreal
• 7455 Sherbrooke St. Montreal
• 2755 Laframboise St.,
Saint-Hyacinthe
• 640 Dorchester St., Saint-Jean-surRichelieu
• 1485 Victoria Ave., Saint-Lambert
• 3131 Cote-Vertu Way,
Saint-Laurent
• 905 Laure Blvd., Sept-Iles
• 5 Principale St. S, Sutton
• 501 St. Charles Ave., Vaudreuil
• 1254 Beaumont Place, Mont-Royal
New Brunswick
• 2485 King George Unit #27 Hwy.,
Douglastown
• 1141 Main St., Moncton
• 175 Trinity Dr., Moncton
• 44 King St., Saint John
Nova Scotia
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
1600 Bedford Hwy, Bedford
303 Prince Albert Rd., Dartmouth
100 Highfield Park Dr., Dartmouth
626 Windmill Rd., Dartmouth
56 Portland St., Dartmouth
1488 Main St., Eastern Passage
6130 Chebucto Rd., Halifax
30 Farnham Gate Rd., Halifax
7071 Bayers Rd., Halifax
286 Lacewood Dr., Halifax
216 Cobequid Rd., Lower Sackville
146 Water St., Shelburne
370 Welton St., Sydney
210 Willow St., Truro
21 Queen St., Truro
68 Robie St., Truro
Prince Edward Island
• 532 Main St. N, Montague
Newfoundland and Labrador
• 193 Elizabeth Ave., St. John’s
Northwest Territories
• 5108 – 49th St., Yellowknife
• 5001 – 50th St., Yellowknife
* Denotes number of ABM machines.
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Special needs
CIBC is determined to be Canada’s most customer-focused
financial services organization. In 2002, the bank launched a
number of initiatives to better serve customers who are senior
citizens, people with disabilities, and individuals with modest
incomes, to ensure that they can all benefit from CIBC’s affordable, accessible banking services.
CIBC’S SPECIAL NEEDS INITIATIVES FOR 2002 INCLUDED:
Wheelchair access to branches – CIBC continued its commitment to a barrier-free policy
by making, wherever possible, all new branches fully wheelchair accessible, and by
retrofitting existing branches whenever a new entrance or significant other addition
is being provided. In 2002, a further 20 branches were renovated to this standard,
bringing the total number of wheelchair accessible locations in Canada to 449.
Access for All™ ABMs – In 2002, CIBC implemented two major initiatives to provide customers with special needs, improved access to the bank’s ABM network.
Through its Access for All ABM initiative, CIBC customers with visual impairments,
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CIBC’s Audio Access ABM
initiative provides ABM service
for elderly customers and the
visually impaired.
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AFFORDABLE ACCESSIBLE BANKING
the elderly and persons using wheelchairs or having restricted mobility have
improved access to ABMs for their banking needs. The bank is in the process of
purchasing new ABMs that meet the Canadian standard for accessibility and these
will be introduced as a component of CIBC’s ongoing machine replacement program.
At year-end 2002, 200 branches had been equipped with Access for All ABM
machines. The initiative coincides with CIBC’s Access for All branch initiative to
achieve wheelchair accessibility through new branch construction and renovation
of existing locations. Typically, Access for All ABMs are installed at a lower height
with curved parcel shelves for easier wheelchair access, grab bars for persons with
mobility impairments, and improved task lighting and easier-to-read screens in
high-contrast colours to assist the elderly and the partially sighted.
As a companion initiative, CIBC installed first generation Audio Access ABMs that
provide full machine access for blind and partially sighted customers. These
machines allow customers to plug headsets into an audio jack and follow spoken
instructions to complete their banking transactions. By year-end 2002, 27 Audio
Access ABMs had been installed in select locations across Canada.
Our challenge is to go beyond
customer expectations and
make the ABM even
more accessible.
PROFILE
Christina Kramer, Vice-President, ABM Channel and Card Management Services
ACCESS FOR ALL ABMs
Banking in the 21st century is about having choices. “The ABM has become one
of the most popular and highly used banking channels,” says Christina Kramer,
Vice-President, ABM Channel and Card Management Services. “Our challenge is
to go beyond customer expectations and make the ABM even more accessible to
our customers.”
To reach this goal, CIBC has pioneered two initiatives to bring the ABM closer to
customers with special needs. Access for All ABMs provide customers with special
needs with access to CIBC’s ABM network. The Audio Access ABM initiative is an
innovative new technology solution that allows blind and partially sighted CIBC customers to do their banking at banking machines. Customers simply plug headsets into
an audio jack on the ABM and receive verbal instructions that will walk them through
their financial transactions.
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AFFORDABLE ACCESSIBLE BANKING
“Meeting the accessibility needs of all of our customers is a priority for CIBC,” says
Kramer. “These initiatives are a key step forward in helping Canadians with special
needs to do their banking at ABMs comfortably, conveniently and with confidence.”
IN ADDITION, CIBC PROVIDES A VARIETY OF BANKING PRODUCTS AND SERVICES FOR
CUSTOMERS WITH SPECIAL NEEDS. THESE INCLUDE:
Telephone banking – CIBC’s speech recognition technology assists customers with
visual or physical limitations. In addition, the bank handled an increased volume of
calls through its Tele-Type Touch (TTY) service that provides hearing-impaired customers with direct, 24/7 access to telephone banking, allowing them to complete
routine financial transactions, and purchase or obtain information on products
and services.
Bank statements in Braille or large print – CIBC makes statements available in
Braille or large print to better meet the needs of visually impaired customers.
Banking solutions to meet the needs of seniors, students and youth – The CIBC
Advantage for Seniors package offered banking and travel advantages for customers 60 years of age and over. This included free daily banking transactions on
the Waive Account (our chequing product), two free transactions per month on
the CIBC Premium Growth Account (our savings product) and a discount on a safety
deposit box rental. For students, the CIBC Advantage for Students package offered
a monthly fee of only $2 for up to 12 transactions on the Waive Account, and 30
cents for each transaction thereafter. Daily banking fees were waived when a $1,000
minimum monthly balance was maintained. For younger banking customers under
19 years, the CIBC Advantage for Youth package offered the CIBC Premium Growth
Account with free daily banking and monthly statements for record keeping.
Waive Account – Low-cost chequing account that cost just $4 per month for up to
12 transactions and 60 cents for each transaction beyond that. Everyday banking
transactions were free when a minimum monthly balance of $1,000 was maintained.
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AFFORDABLE ACCESSIBLE BANKING
Aboriginal banking
CIBC is dedicated to meeting the financial services needs of all
Aboriginal Peoples in Canada – First Nations, Inuit and Métis
people located in urban, rural and remote communities across
the country.
At CIBC, we understand that to meet the needs of Aboriginal Peoples, we must
begin by building effective relationships with each community and by improving
their access to a comprehensive range of personal and commercial financial services.
CIBC is working to build strong
relationships with Canada’s
Aboriginal communities.
To achieve these goals, CIBC has an on-reserve network of eight branches and two
agencies in British Columbia, Alberta, Saskatchewan, Ontario and Quebec, together
with a seasoned Aboriginal banking team able to meet the requirements of
Aboriginal communities in every region of Canada. The bank’s objective is to create strong and balanced relationships with all Aboriginal communities, to work
with them to build a greater awareness of the financial services CIBC has to offer.
Banking services
CIBC is working to serve Aboriginal Peoples, their businesses and their communities through its offer of personal and commercial financial products and services,
tailored to meet their specific needs. For example, the bank has customized its personal lending guidelines to complement the unique legal and tax circumstances of
First Nations Peoples.
CHANGES MADE TO THE EVALUATION PROCESS TO ENHANCE THE CREDIT POSITION
OF STATUS AND TREATY INDIANS INCLUDE:
Total Debt Service Ratio – CIBC has developed a formula to “gross up” income
levels of Status Indians who earn tax-exempt income on a reserve for calculating
their ability to repay the proposed loan and servicing existing debt.
Conventional Residential Mortgage – CIBC’s on-reserve and Métis Settlement
mortgage program does not require the involvement of Indian & Northern Affairs
Canada or Canada Mortgage and Housing Corporation if certain conditions are met.
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AFFORDABLE ACCESSIBLE BANKING
To support Aboriginal businesses, CIBC is committed to developing banking partnerships based on mutual trust and understanding and meeting customer needs.
The bank works with Aboriginal business clients to help build a strong business
and capital base by offering a range of commercial banking products and services
to meet business financing on and off reserve. These include lines of credit, capital business loans, business improvement loans, as well as equipment, financial,
leasing and investment management products.
In 2002, CIBC provided commercial banking services to a broad range of
Aboriginal businesses in the natural resources, hospitality, agriculture, transportation and retail sectors in communities across Canada.
CIBC believes that by developing a better understanding of the needs of Aboriginal
communities, the bank can make a significant contribution to helping Aboriginal
Peoples achieve greater economic independence and self-sufficiency, and to
enriching their lives.
CIBC Ombudsman
The Office of the CIBC Ombudsman serves as an objective,
independent intermediary to help CIBC’s personal and small
business customers resolve any concerns they have to their satisfaction, after all other avenues have been unsuccessful. The
office uses feedback received from CIBC customers through this
process to help management identify areas and issues in need
of attention to improve the future experience of customers.
The CIBC Ombudsman reports directly to CIBC’s chairman and chief executive
officer. CIBC Ombudsman Lachlan Maclachlan can be reached by telephone at
1-800-308-6859 (in Toronto (416) 861-3313) or by fax at 1-800-308-6861 (in
Toronto (416) 980-3754).
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TO VIEW THE ONLINE VERSION GO TO
http://www.cibc.com/pas
Support
for Small
Business
83 The future of small business
Small businesses across Canada make a vital contribution to this country’s economic growth.
CIBC Small Business Banking
84
CIBC Small Business Banking serves the interests of small business customers by providing
innovative banking solutions that meet their needs.
New initiatives in 2002
85
CIBC introduced a broad range of initiatives in 2002 to better support small business customers
and help them accomplish their goals.
87
CIBC Small Business Banking employees are dedicated, highly trained financial professionals,
well equipped to meet financial needs of clients.
Donations and sponsorships
88
CIBC Small Business Banking supported a variety of national and regional programs to
promote entrepreneurship and the growth of small business.
Support for Small Business
Accreditation
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Small business owners John and Jacqui McNeill (left and right) meet with CIBC Senior Business Adviser
Bernadette Phelps outside their Escents Aromatherapy store in Vancouver, B.C.
Bankers have to be the champion of your business.
Having a good working relationship with your bank
is crucial to success and fundamental to its growth.
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SUPPORT FOR SMALL BUSINESS
Support for Small Business
2002 was a remarkable year for Canada’s economy and
Canadian small business. The economy performed more
strongly than expected, creating more than 465,000 new jobs –
the fastest rate of job creation in more than two decades. The
vast majority of these – 75 per cent – were created by the small
business sector.
Small businesses across Canada make a vital contribution to this country’s economic growth. In today’s economic environment, conditions for Canadian small
business growth have never been better. Entrepreneurs are taking the Canadian
economy forward and CIBC is behind them, supporting their growth in regional
and national markets, and helping them to establish themselves competitively on
the global stage.
Over the past several years, CIBC has consistently supported this important sector,
steadily increasing our small business market share. At year-end 2002, CIBC and
its listed affiliates had more than 480,000 small business customers and more than
$23.3 billion* in authorized loans (under $5 million in authorized credit) supporting businesses across Canada. Of the $23.3 billion*, over $4.5 billion represents
authorized loans to agricultural customers.
* Revised April 24, 2003
CIBC AND ITS LISTED AFFILIATES DEBT FINANCING TO FIRMS IN CANADA
As at October 31, 2002
For Authorization Levels of: $0 – $24,999
Revised April 24, 2003
Province
Authorizations
Outstandings
Customers
Alberta
British Columbia
Manitoba
New Brunswick
Newfoundland & Labrador
Nova Scotia
Ontario
Prince Edward Island
Quebec
Saskatchewan
Territories
57,666,697
76,337,880
17,362,518
6,311,327
6,458,343
11,091,310
266,702,490
3,561,335
55,240,444
23,200,610
3,082,522
31,686,654
34,864,843
9,807,453
3,004,409
3,533,392
5,315,673
109,475,851
2,429,823
24,578,612
14,802,924
1,461,090
7,795
11,131
2,150
866
938
1,641
38,301
416
7,176
2,700
446
Grand Total
527,015,475
240,960,724
73,560
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Entrepreneurs are taking the
Canadian economy forward and
CIBC is behind them, supporting
their growth.
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SUPPORT FOR SMALL BUSINESS
For Authorization Levels of: $25,000 – $99,999
Revised April 24, 2003
Province
Authorizations
Outstandings
Customers
Alberta
British Columbia
Manitoba
New Brunswick
Newfoundland & Labrador
Nova Scotia
Ontario
Prince Edward Island
Quebec
Saskatchewan
Territories
240,530,128
277,761,430
74,054,276
25,023,014
20,677,958
43,109,675
1,009,433,295
13,999,416
207,781,037
98,406,660
9,068,396
148,979,689
163,842,611
50,080,527
14,428,526
13,916,422
27,495,284
597,372,259
10,141,292
115,517,263
67,527,071
5,258,397
4,519
5,257
1,418
478
401
832
18,087
262
3,861
1,872
187
Grand Total
2,019,845,285
1,214,559,342
37,174
For Authorization Levels of: $100,000 – $249,999
Revised April 24, 2003
Province
Authorizations
Outstandings
Customers
Alberta
British Columbia
Manitoba
New Brunswick
Newfoundland & Labrador
Nova Scotia
Ontario
Prince Edward Island
Quebec
Saskatchewan
Territories
379,306,228
382,644,775
112,146,685
24,671,676
30,904,405
56,950,647
1,469,793,643
22,043,800
302,784,951
159,049,362
14,932,291
204,453,905
227,615,837
60,604,639
15,455,529
18,140,205
35,887,175
895,207,167
12,513,685
184,495,524
88,273,742
10,110,626
2,521
2,676
733
164
214
378
8,649
139
1,860
1,025
100
Grand Total
2,955,228,465
1,752,758,033
18,459
For Authorization Levels of: $250,000 – $499,999
Revised April 24, 2003
Province
Authorizations
Outstandings
Customers
Alberta
British Columbia
Manitoba
New Brunswick
Newfoundland & Labrador
Nova Scotia
Ontario
Prince Edward Island
Quebec
Saskatchewan
Territories
456,216,531
381,136,502
111,163,960
27,413,679
26,076,781
41,628,744
1,445,382,031
25,629,062
328,165,027
160,811,733
18,399,464
228,421,940
219,638,930
56,067,156
13,891,812
15,641,228
24,646,141
972,934,333
13,976,982
194,426,824
83,315,502
10,632,933
1,308
1,073
321
75
75
117
2,790
72
808
473
51
Grand Total
3,022,023,515
1,833,593,782
7,163
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SUPPORT FOR SMALL BUSINESS
For Authorization Levels of: $500,000 – $999,999
Revised April 24, 2003
Province
Authorizations
Outstandings
Customers
Alberta
British Columbia
Manitoba
New Brunswick
Newfoundland & Labrador
Nova Scotia
Ontario
Prince Edward Island
Quebec
Saskatchewan
Territories
497,516,231
538,187,469
173,858,519
44,597,450
32,061,387
79,216,553
1,926,750,257
41,746,229
401,603,978
143,663,835
22,194,346
259,156,406
268,637,585
86,989,271
20,974,184
17,013,115
40,026,479
1,336,529,339
19,770,988
253,348,050
76,385,837
12,041,717
729
793
258
64
48
114
1,775
58
488
212
32
Grand Total
3,901,396,255
2,390,872,971
4,571
For Authorization Levels of: $1,000,000 – $4,999,999
Revised April 24, 2003
Province
Authorizations
Outstandings
Customers
Alberta
British Columbia
Manitoba
New Brunswick
Newfoundland & Labrador
Nova Scotia
Ontario
Prince Edward Island
Quebec
Saskatchewan
Territories
1,114,649,114
1,394,593,425
488,871,934
75,228,664
65,892,928
177,569,306
5,889,685,853
88,436,361
1,273,841,511
263,619,007
93,969,639
553,536,564
673,082,843
263,092,980
36,279,198
31,500,586
87,902,567
4,359,359,025
49,890,171
784,152,701
112,587,430
48,893,082
556
711
232
47
34
89
1,699
49
450
140
44
10,926,357,742
7,000,277,147
4,051
Grand Total
For Authorization Levels of: $5,000,000 and over
Revised April 24, 2003
Province
Authorizations
Outstandings
Customers
Alberta
British Columbia
Manitoba
New Brunswick
Newfoundland & Labrador
Nova Scotia
Ontario
Prince Edward Island
Quebec
Saskatchewan
Territories
4,417,881,462
2,230,917,401
2,004,844,681
287,123,895
764,947,166
865,658,900
78,827,197,961
34,629,500
2,211,310,452
438,591,997
91,445,785
2,047,696,281
1,119,506,822
538,565,454
53,958,960
197,213,815
318,481,553
14,622,813,124
8,949,603
1,177,304,647
74,267,412
56,558,027
155
135
55
9
12
34
909
4
125
19
8
Grand Total
92,174,549,198
20,215,315,698
1,465
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SUPPORT FOR SMALL BUSINESS
Total All Authorization Bands
Revised April 24, 2003
Province
Alberta
British Columbia
Manitoba
New Brunswick
Newfoundland & Labrador
Nova Scotia
Ontario
Prince Edward Island
Quebec
Saskatchewan
Territories
Grand Total
Authorizations
Outstandings
Customers
7,163,766,391
5,281,578,884
2,982,302,573
490,369,706
947,018,968
1,275,225,136
90,834,945,529
230,045,703
4,780,727,401
1,287,343,204
253,092,442
3,473,931,440
2,707,189,471
1,065,207,479
157,992,618
296,958,764
539,754,873
22,893,691,098
117,672,544
2,733,823,622
517,159,918
144,955,871
17,583
21,776
5,167
1,703
1,722
3,205
72,210
1,000
14,768
6,441
868
115,526,415,935
34,648,337,697
146,443
CIBC classifies small business as typically having credit authorized of less than $5 million. Reporting of
authorizations for levels of $5 million and over is provided to meet regulatory requirements and may
extend beyond customers that may be classified as small business by CIBC.
CIBC defines small business
customers as self-employed
owners who depend on their
business for their livelihood,
who may or may not
employ others, and whose
personal and business affairs
are intertwined.
In addition, CIBC is one of two Canadian banks with a dedicated agriculture division with a national network of highly trained agricultural finance specialists to
serve small business clients in Canada’s agricultural sector. Each specialist has
extensive farm and banking experience, and is an authoritative source of information on a wide range of related issues, such as farm loans, economic forecasts,
farm business planning and general farm management.
CIBC defines small business customers as self-employed owners who depend on
the business for their personal livelihood, who may or may not employ others, and
whose personal and business affairs are intertwined. Typically, our small business
customers have less than $5 million in sales and less than $1 million in credit
requirements. CIBC also has a dedicated focus on the micro-business or small
office/home office (SOHO) segment of the economy. The bank takes a fully integrated approach to providing financial products and services that focus on our
customers’ business and personal financial needs.
CIBC also supports the activities of entrepreneurs nationwide working as franchisees.
Through finance program arrangements with a large number of established
franchise systems, the bank’s National Franchise Services Group provides expert
advice and access to comprehensive banking solutions through its network of
branches nationwide.
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SUPPORT FOR SMALL BUSINESS
The future of small business
Small business is on the crest of the wave of change that is
taking place in the Canadian economy. The combined impact of
a number of strategic external forces will reshape the business
priorities of entrepreneurs over the next decade as small
business activity increases and becomes more competitive,
and exporting comes into sharper focus as a primary source of
business growth and profitability. These forces include prevailing demographic trends, globalization, the rise of the Internet
and electronic commerce.
Demographic change is reshaping the dynamics of small business and driving its
growth. Over the next decade, the large baby boom generation, which is the
numerically dominant component of the workforce, will be moving into their 50s
and 60s. As a result, Canada’s labour force will be older, more experienced and
productive, as well as having the highest propensity for self-employment. This
demographic trend will accelerate the pace of small business formation in the
coming decade.
Moreover, demographics will also have a major impact on small business growth
because of the rising numbers of immigrant Canadians launching their own enterprises in Canada and developing export markets in their countries of origin. In
addition, statistics indicate that more young Canadians of self-employed parents
will likely choose to become entrepreneurs themselves and start their own
businesses over the same period.
Globalization remains a dominant economic force that will continue to shape the
small business environment, dictating that companies look to foreign markets and
sources of supply as a key element in their strategic business development. The
export imperative is certain to become more common over the next decade, as more
and more small businesses plan on a global scale to achieve business growth.
Equally, the Internet will play an important role in helping and motivating small
businesses to focus more attention on electronic commerce and establishing a
foothold in export markets. The ever-increasing availability of inexpensive technology and Internet access ensures that small businesses can connect to global
markets and win new customers anywhere in the world.
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Canada’s small businesses make
a vital contribution to our
economic growth.
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SUPPORT FOR SMALL BUSINESS
In essence, Canadian demographic patterns, globalization and the Internet are a
dynamic combination that will create a significant number of new entrepreneurs
and inspire them to launch more small businesses, to build a market presence in
Canada, and to develop foreign markets and sources of supply. This will translate
into more small businesses and more exporters, creating a highly competitive business environment that will be more complex.
Small business owners in general, and exporting companies in particular, will
require superior management skills, as well as greater access to expertise and
advice in a number of fields that will emerge as areas of key importance. These
include trade finance, foreign exchange and tax issues, as well as knowledge of
international regulations and fluency in the language of doing business.
CIBC’s goal is to provide quality
banking solutions to Canada’s
entrepreneurs.
Increasingly, entrepreneurs’ time will be at a premium. They will need total,
immediate and “24/7” access to expert advice and sophisticated financial services
to support their business activities. CIBC is ready to work with its small business
customers, providing them with the right financial solutions they need to ensure
they are well positioned to meet the changing needs of their business.
CIBC Small Business Banking
CIBC understands the needs of entrepreneurs and is in a strong
position to provide them with solutions that will live up to
expectations. CIBC Small Business Banking is a completely separate business unit of the bank dedicated to this sector. Led by
an executive vice-president, it serves the interests of small business customers by developing and managing innovative banking
solutions that are specially designed to address their integrated
business and personal needs, while freeing up more of their
valuable time to concentrate on running their businesses.
CIBC’s team of small business specialists is located in Canada’s major urban centres and through the bank’s network of rural branches across the country. In the
major urban markets, business advisory teams are focused on meeting the business and personal needs of small business owners while ensuring access to the full
spectrum of expertise that the bank can offer.
In rural areas, entrepreneurs have a point of access to CIBC’s specialized expertise,
integrated products and services and collateral resources through their local branch.
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The knowledge and expertise that our specialists provide ensure that CIBC’s small
business customers have access to expert advice, as well as a comprehensive range
of banking solutions to achieve their business and personal financial goals.
At CIBC our goal is straightforward and simple: To deliver the quality of banking
that Canada’s entrepreneurs want and that fully satisfy their present needs, and to
support their changing requirements as they grow in the future.
New initiatives in 2002
Canada’s small businesses are on a course of continuous change.
CIBC serves the needs of small business with a comprehensive
range of Smart Simple Solutions to address their business account,
credit, cash management and trade finance requirements, as
well as their personal and business needs.
In addition, the bank is committed to a dynamic process of product enhancement,
development and service innovation to provide integrated banking solutions that
will address our customers’ evolving financial needs.
In 2002, CIBC introduced a broad range of initiatives and enhancements to better
support our small business customers – versatile solutions that will save them more
time, so that they can accomplish their goals more effectively. During the year, the
bank updated its lending processes and procedures, enhanced products, improved
delivery through upgraded alternative channels and provided easier access to a
wealth of CIBC resources to give small business customers greater and more timely
access to the products and services they need.
IN 2002, THE BANK’S CREDIT INITIATIVES INCLUDED:
•
•
Expanding CIBC Small Business Credit Edge™ eligibility requirements to allow
more businesses to apply and qualify. This product offers customers up to
$100,000 either as a loan or line of credit, or a combination of each, with only
minimal information required, a two-page application and typically a two-business
day turnaround. In fiscal 2002, this Smart Simple Solution provided over
$600 million in authorized limits to over 10,000 small business and agriculture customers – representing a 200 per cent increase in credit authorizations, year over year.
Eliminating restrictive conditions for most customers borrowing less than
$250,000, including the margining of accounts receivable and maintenance of
financial covenants, to enhance and simplify access to credit.
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In 2002, CIBC introduced initiatives and enhancements to better
serve small business customers.
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SUPPORT FOR SMALL BUSINESS
•
•
•
•
A focus on growing knowledge-based and export-oriented businesses that
don’t have conventional physical assets for security, by reducing the collateral
required for credit applications under $250,000. This enhancement ultimately
benefited all customers by providing a faster and simpler borrowing option.
Introducing improved automated adjudication for start-up companies with unsecured borrowing needs up to $30,000.
Introducing CIBC entourage™ Business American Express ® Card, a no-annual
fee, low interest rate card with an unprecedented combination of travel, entertainment and savings features built in, offering great value, convenience and
choice to small business owners.
Provisions for support to Prairie farmers with programs, such as the Saskatchewan
Livestock Drought Loan Program, that helped farmers through the 2002 drought
with no interest or principal payments on loans for one year.
In addition, CIBC enhanced its products and services to benefit small business
customers and make their banking experience more productive and meaningful.
THESE INCLUDED:
•
•
•
•
An improved small business Current Account (Canadian dollar) to provide all small
business customers, including non-profit organizations, with access to Online Banking
and Telephone Banking at no extra charge. This new feature gives customers the added
flexibility of conducting their banking anywhere, anytime, at their convenience.
CIBC Foreign Exchange Online, an enhanced foreign exchange offer that allows
customers to manage risk and conduct currency transactions, as well as initiating
drafts, wires and account transfers anywhere in the world.
An expanded online banking and telephone banking offer that includes new
services and transaction capabilities, such as requests for:
• Copies of a transaction document, including cheques, credit memos, debit
memos, deposits, and electronic funds transfer items and withdrawals.
• Loan balance information by telephone.
A dedicated team of small business specialists within CIBC’s telephone banking
channel to assist customers with day-to-day banking transactions.
AN ENHANCED CIBC SMALL BUSINESS BANKING WEBSITE AT WWW.CIBC.COM THAT
OFFERS CUSTOMERS:
•
CIBC’s products and services
help to make small business
customers’ banking experience
more productive.
•
Complimentary access to CIBC’s online small business resource centre which
includes tools and articles designed to provide valuable information to help our
customers succeed, and
More intuitive navigation for locating online applications, tools and online personal and business banking.
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Accreditation
CIBC serves its small business customers through its network
of small business specialists nationwide. Our small business
bankers are among the most highly accredited financial services
professionals in the industry, having taken a number of industry
recognized courses.
At year-end 2002, 77 per cent of CIBC Small Business Banking employees giving
advice to customers had completed the Canadian Securities and Personal Financial
Planner courses through the Canadian Securities Institute. These dedicated and
highly trained financial professionals are well equipped to meet the business and
personal credit, investment and financial planning needs of clients.
PROFILE
John McNeill, Co-Owner/Manager: Vancouver, British Columbia
ESCENTS AROMATHERAPY
“Bankers have to be the champion of your business,” says John McNeill, co-owner
and manager of Escents Aromatherapy, a rapidly growing aromatherapy bath and
body products business he started with his wife Jacqui in 1993. Having a good
working partnership with your bank, he says, is crucial to the success of any business and fundamental to its growth.
All the more reason to have a banker who understands your business and a banking relationship that can support its goals and empower it to take advantage of
new opportunities. For McNeill, that opportunity – expansion into the United
States and Asia ahead of the competition – required a larger credit line to finance
the company’s sales and business cycle. Unable to obtain a commitment from its
current banker, the company pursued a colleague’s referral to a CIBC senior business adviser who acted quickly to do due diligence and arrange the necessary
financing to support the next high-volume sales period.
“Bernadette, my account manager, took the time to learn and understand my
business,” says McNeill. “It’s a real partnership; she really is the kind of banker that
small business needs.” Beyond meeting the immediate need, CIBC’s contribution
to the business has been enormous in many different ways, such as providing trade
finance advice to help the firm develop its export business. Most important, it has
given McNeill a lot more time to focus on the business and make it successful.
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CIBC’s small business customers,
John and Jacqui McNeill.
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SUPPORT FOR SMALL BUSINESS
Donations and sponsorships
In 2002, CIBC Small Business Banking supported a variety of
national and regional programs, as well as post-secondary educational institutions, to promote entrepreneurship and the
growth of small business in Canada.
HERE ARE SOME EXAMPLES OF CIBC’S SUPPORT:
CIBC Innovation in Economic Development Fund at the Canadian Women’s
Foundation (CWF) – In 2002, CIBC committed $600,000 over five years to this
CWF national program dedicated to creating systematic change that will lead to
economic self-sufficiency for women and girls in Canada.
CIBC’s funding will be allocated as follows: $20,000 per year will go to economic
development work with low-income women across Canada. The balance of the
donation is earmarked for the new CWF Economic Development Collaborative
Fund, which will bring together up to 12 partners who will each contribute between
$100,000 and $250,000 annually to collectively fund a diverse portfolio of economic development projects in Canada over a number of years. The fund will create an innovative new model of philanthropy that will help create real, positive
economic and social change for low-income women across the country.
PROFILE
Anne-Catherine Laberge, Owner: Montreal, Quebec
BIDULES ET BABIOLES CRÉATIVITÉ
Opening her own studio was
a long-time dream for
Anne-Catherine Laberge.
“Starting my own business was a dream I had for a long time,” says Anne-Catherine
Laberge, owner of Bidules et babioles créativité. With the help of Cercles d’emprunts
de Montréal, a community organization that empowers women, she learned how to
shape her vision in a business context with training, mentoring, a $2,000 loan to get
started and help in preparing other funding applications. It is just one of many organizations funded by the Canadian Women’s Foundation to help women and girls
achieve greater self-reliance and economic independence in Canada.
With the support of CIBC, the Canadian Women’s Foundation provided $15,000
to help Cercles fund its work, providing micro-business training, mentoring, peer
support and lending circles to low-income women participating in the program.
Laberge’s studio officially opened in September 2002. She is proud of her accomplishment and encourages other women starting out to be positive and never to give up.
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“When I look back and see how far I have come,” she says,“ I realize how much I have
changed and how confident I have become about myself and my future.”
Canadian Youth Business Foundation – CIBC is a co-founder of the foundation,
the only national organization that assists young entrepreneurs in pursuing their
ambitions of building successful enterprises by providing business assistance. This
includes loans up to $15,000 and mentoring support for qualified candidates
between 18 and 29 years of age. With a $3 million commitment to the program,
CIBC made its final $250,000 donation in 2002. Since its inception in 1996, more
than 811 new businesses have been launched and 2,856 new jobs created.
University of Manitoba, Faculty of Agricultural and Food Sciences – CIBC contributed
$1.25 million toward the establishment of the new state-of-the-art Centre for
Functional Foods and Nutraceuticals and funding for four undergraduate scholarships. The Centre is funded through a partnership between the Government of
Canada, the Province of Manitoba and the private sector. Research conducted at the
centre will focus on crops grown in the Prairie Region.
University of Saskatchewan – CIBC donated $750,000 towards the CIBC Centre
for Agricultural Entrepreneurship, which will help College of Agriculture students
to be better prepared for work in the Canadian agri-business industry. The centre
will enhance the teaching of entrepreneurship and employability skills, while incorporating a wider range of work experience options through the development of
relationships with successful entrepreneurs and successful agri-business enterprises.
Canada’s Outstanding Young Farmer Program – In 2002, CIBC contributed $18,500
to fund a competition, held in each province, to acknowledge young farmers – aged
35 years or younger – for their entrepreneurial management, industry leadership,
community involvement and innovation in agricultural production and marketing.
Provincial winners advance to a national final to determine Canada’s Outstanding
Young Farmer.
Chamber of Commerce – CIBC is a proud sponsor of local chambers of commerce
nationwide, including sponsorship of the Canadian Chamber of Commerce 2002
Annual General Meeting. Bank memberships extend from executives to frontline
staff. We support the efforts of the Canadian and local chambers of commerce to
promote a business climate of competitiveness, profitability and job creation for all
business across Canada. An example of this is CIBC’s support of the Montreal
South Shore Chamber of Commerce Program, called “Matins Contacts,” which
brings together over 800 local business people throughout the year.
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Junior Achievement – CIBC supports many regional Junior Achievement charters
across the country, contributing more than $75,000 and the time of CIBC Small
Business Banking employee volunteers to help young people discover leadership,
entrepreneurship and workforce readiness skills. In southwestern Ontario, CIBC supported numerous Junior Achievement events that raised awareness among young
entrepreneurs including the Speaker’s Breakfast in Guelph and the Annual Waterloo
Region Business Awards as part of the local Junior Achievement fundraising activities.
Association of Collegiate Entrepreneurs (ACE) – CIBC has been a sponsor of ACE for
eight years. CIBC bankers mentor members of ACE chapters at local universities,
helping them to develop business plans and take their products to market. In addition, a CIBC senior banker has acted as a judge for many years in the associations’
annual business awards finals. The bank also sponsors the annual gala dinner awards
night and is the title sponsor of the Student Entrepreneur of the Year Award.
The following are trademarks of CIBC or its subsidiaries:
Smart Simple Solutions, Small Business Credit Edge, CIBC Better
Than Prime Mortgages, CIBC Better Than Posted Mortgages, CIBC
Premium Growth Account, entourage Business, CIBC Access For All,
CIBC Audio Access, CIBC World Markets, Investor’s Edge, Waive
Account, Youthvision.
The following are trademarks of other parties:
President’s Choice, President’s Choice Financial and Fresh Financial
Thinking are trademarks of Loblaw Companies Limited; Amicus
Bank licensee of marks. President’s Choice Financial services are provided by Amicus Bank, a member of the CIBC group of companies.
American Express is a trademark of American Express Company;
used under license.
Run for the Cure is a trademark of Canadian Breast Cancer
Foundation, used under license.
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Design: ICE Communications Inc.

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