Big Brothers Big Sisters of Ajax Pickering - Little Sister Receives Scholarship

News Release

30 Grade 10 students from across Canada awarded CIBC Youthvision^TM Scholarships valued at up to $36,000 each
Unique program marks 10 years of making post-secondary education possible for young people who might not otherwise have the opportunity

TORONTO, May 21, 2009 ⎯ Thirty Grade 10 students from coast to coast are on their way to securing a post-secondary education as recipients of this year’s CIBC Youthvision^TM Scholarship, valued at up to $36,000 each. This one-of-a-kind program has already helped 300 previous winners fulfill their academic aspirations in the last 10 years.

To mark the program’s 10th anniversary, CIBC commissioned a study by the Centre of Excellence for Youth Engagement, which revealed that the program’s early intervention in Grade 10 relieves financial stress, and builds confidence and self-esteem. It also encourages independence, enables students to do more in-depth life and educational planning, and ultimately, motivates them to do better. Most graduate recipients of the program have gone on to continue or attain higher levels of education after their undergraduate or college degrees.

To be eligible, Grade 10 students have to be enrolled in a mentoring program with Big Brothers Big Sisters of Canada or the YMCA.

“The CIBC Youthvision Scholarship Program is unique in that it targets young people who might not otherwise have the opportunity to pursue a university or college education and supports them in completing both their high school and post-secondary studies,” said Kim Baudouin, Assistant Director, Higher Education Scholarships, Association of Universities and Colleges of Canada (AUCC). “As administrator of the program, AUCC is proud to partner with CIBC, Big Brothers Big Sisters of Canada and the YMCA to reach out to high school students through this program.”

Dallas Baker, a 2009 scholarship recipient, said “I am immensely thankful and excited about receiving the CIBC Youthvision Scholarship. I feel now as if there are limitless possibilities ahead of me in the years to come. I am also very grateful for the opportunity that has been given to me through the YMCA internship. There are so many learning experiences ahead for me that I am excited for through this program and overall.”

“The 30 students who received these scholarships will have a path to a post-secondary education,” said Gerry McCaughey, CIBC’s President and Chief Executive Officer at a ceremony recognizing the recipients today. “On behalf of CIBC, I extend my congratulations to these 30 new scholarship recipients and wish them every success on their continuing journey towards their academic aspirations. I am proud of CIBC’s long-standing support of this scholarship program and our focus on providing access to education.”

Over the past 10 years, 330 Canadian Grade 10 students have been awarded scholarships under the CIBC Youthvision Scholarship program, marking a multi-year commitment of more than $10 million.

Winners of the CIBC Youthvision scholarship receive six summer internships through the YMCA that begin right after Grade 10, valued at up to $20,000; and tuition for four years, valued at up to $16,000. They also receive ongoing mentoring from either Big Brothers Big Sisters of Canada or the YMCA until they graduate from their post-secondary education.

At today’s event, Big Brothers Big Sisters Canada was represented by Karen Fonseth, Chair of the National Board of Directors. The YMCA was represented by Bahadur Madhani, Chair of the Board of Directors, YMCA of Greater Toronto.

In addition to their individual scholarships, Linda Xu of Scarborough was presented with the Neil Morgan Volunteer Award for exemplary voluntary contributions to her community and Matthew Yensen of Vancouver, was honoured with the Ted Medland Achievement Award for attaining the highest academic achievement of this year’s crop of winners.

In 2008, CIBC’s multi-year commitments to universities and colleges across Canada totalled $17 million, of which close to $6 million is aligned to scholarships and bursaries at Canadian universities and colleges to enable students to pursue post-secondary studies.

CIBC is committed to supporting causes that matter to our clients, our employees and our communities. We aim to make a difference in communities through corporate donations, sponsorships and the volunteer spirit of employees. With a strategic focus on youth, education and health, and employee commitment to causes including the Canadian Breast Cancer Foundation CIBC Run for the Cure, the CIBC World Markets Children’s Foundation and United Way, we are investing in the social and economic development of communities across the country. In 2008, CIBC group of companies contributed more than $36 million worldwide to charitable and non-profit initiatives. Of this, more than $27 million was invested in Canada to support national, regional and local organizations. To learn more, visit www.cibc.com/pas