SOURCE: Scotiabank

Scotiabank

December 17, 2015 16:25 ET

Scotiabank Expands Existing Newcomer Program to Provide Multi-Layered Community-Based Support for Syrian Refugees

Scotiabank Extends Its Commitment to More Than $1 Million to Assist With Refugee Resettlement; Scotiabank and Enactus Partner to Empower Youth to Support Newcomers to Canada

TORONTO, ON--(Marketwired - December 17, 2015) - Today, Scotiabank announced wide-ranging community-based initiatives designed to support Syrian refugee resettlement. The Bank has a long track record of supporting immigrant and refugee communities as they settle in Canada.

"Canada is a country of immigrants and as Canada's international bank, Scotiabank takes pride in helping newcomers establish themselves in Canada," said Brian Porter, President and CEO of Scotiabank. "We have multiple programs in place to help newcomers understand Canadian finances and eventually reach their financial goals, and we are committed to building on these programs as the country welcomes 25,000 refugees from Syria."

Scotiabank will make a financial contribution totalling more than $400,000 to support government identified resettlement agencies directly supporting Syrian refugees in 36 communities across Canada. This contribution is in addition to Scotiabank's previous contributions of $400,000 to the Canadian Red Cross in support of Syrian refugee resettlement.

To galvanize our communities in support of Syrian refugees and easing their transition to Canada, Scotiabank is delighted to announce an extension of its partnership with Enactus, a community of student, academic and business leaders using entrepreneurial action to create a better, more sustainable world. Scotiabank will donate $75,000 to Enactus to empower youth teams to deliver community initiatives that address the unique and immediate needs facing Syrian refugees in Canada.

"As a country, when we welcome newcomers to Canada, we carry a responsibility to support them through this transition," said Nicole Almond, Enactus Canada president. "Enactus students work every day to empower people and change individual lives through community development programs, and we are proud to partner with Scotiabank to help Syrian refugees adapt to life in Canada and be part of the solution to a global crisis."

Scotiabank has also extended its popular StartRight banking program for newcomers to Syrian refugees, offering a free chequing account plus $100 deposited after 120 days. This portion of the donation takes the Bank's gift to over $1 Million. The program also includes a free safety deposit box for one year, a $50 unsecured overdraft, and a $2000 limit on an unsecured credit card.

The Bank has recorded a Financial Literacy webinar which is available in English and Arabic at
http://www.scotiabank.com/syrianimmigration.

Scotiabank will continue to explore ongoing support to continue fostering the financial well-being of immigrant and refugee programs in areas such as employment preparation.

"Our charity has seen a great outpouring of generosity from individuals, organizations, and businesses," said Jacquie Lewis, Executive Director, Malton Neighbourhood Services. "We thank Scotiabank for their support in helping the Syrian newcomers to Canada. It's a testament to the Canadian spirit of helping."

"The Multiethnic Centre of Quebec's team joins me in gratefully acknowledging Scotiabank's generosity towards the refugees," emphasized Dominique Lachance, Director of the Multi-ethnic Centre of Quebec. Indeed, the announced financial contribution will be instrumental to the welcoming services, the resettlement and the follow-up of hundreds of refugees who are placed under the care of the government and have settled down in Quebec, in particular those coming from Syria.

Scotiabank has a long history of helping newcomers to Canada manage their financial needs through programs including:

Scotiabank's StartRight Program
Scotiabank's StartRight program is a one-stop shop for all newcomers to Canada. Along with banking advice, the program provides a newcomer checklist to help individuals settle into their new life in Canada. Visit www.scotiabank.com/startright for more information.

Scotiabank's Financial Literacy Program
Scotiabank offers a financial literacy program in multiple languages with advice on everything from the banking basics, to how to build a credit history to financing school and housing. These resources have been translated into Arabic and are available by webinar for all Syrian refugees.

Visit http://www.scotiabank.com/syrianimmigration to hear the webinar.

About Scotiabank
Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 90,000 employees and assets of $856 billion (as at October 31, 2015), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using Marketwired. For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankNews.

About Enactus Canada
Enactus Canada, this country's largest student leadership development organization, is shaping generations of entrepreneurial leaders who are passionate about advancing the economic, social and environmental health of Canada. Guided by academic advisors and business experts, more than 2,650 entrepreneurial post-secondary students led 288 community empowerment projects and business ventures this past year in communities coast to coast. As a global network of 36 countries, Enactus uses the power of entrepreneurial action to transform lives and shape a better, more sustainable world. For more information, visit enactus.ca

Contact Information

  • For media enquiries only:

    Scotiabank
    Heather Armstrong
    Public, Corporate and Government Affairs
    PH: (416) 933-3250
    Heather.armstrong@scotiabank.com

    Enactus Canada

    Jody Lundrigan
    Director, Communications
    PH: (416) 304-1566 ext. 222
    M: (416) 346-0131
    jody@enactus.ca