After a pilot program offering financial literacy seminars and job-readiness training to Toronto newcomers was well-received last year, CIBC and YMCA have announced plans to roll out the program in Vancouver this year.

The CIBC YMCA Access to Opportunity program aims to raise financial literacy among newcomers to Canada through educational seminars. The seminars cover such topics as informed decision-making in financial services, building credit history, saving and starting a business.

The program also includes CIBC Connection to Employment — a free five-week job-readiness training session for qualified newcomers, to give them the skills they need to work in Canada’s financial services sector.

“CIBC YMCA Access to Opportunity was a resounding success in 2008,” said Christina Kramer, CIBC’s executive vice-president of retail distribution. “Feedback from the nearly 200 newcomers who attended the Facts and Finance seminars in Toronto last year was very positive, particularly on how it expanded their financial literacy.”

Kramer added that CIBC hired most of the 24 graduates from the job-readiness training session in 2008.

In April of this year, the program will be expanded to Vancouver. Up to 25 qualified newcomers will take part in the job-readiness training, and the financial literacy seminars will take place at a Vancouver YMCA throughout the year.

In addition, the seminars will continue to be offered in five YMCA locations throughout the Greater Toronto Area.

“CIBC Connection to Employment truly placed me on a trajectory for career success,” said Felix Quartey, a 2008 graduate and now a loans operations officer with CIBC in Toronto. “The soft and hard skills that I learned, like negotiation, time management, career management, and the knowledge I gained on Canadian banking will be useful throughout my career.”

Bill Stewart, CEO of the YMCA of Greater Vancouver, said the organization is committed to helping newcomers transition into their new lives in Canada.

“We are proud to build on our longstanding relationship with CIBC to deliver this program that will specifically help newcomers with financial capacity, confidence, and awareness of the financial services sector in Canada as well as create a talent pool for potential employers,” Stewart said.

IE