CHICAGO, Ill., Oct. 18, 2021 /CNW/ - BMO Financial Group announced today a donation of $1 million to Hope Chicago to support their mission of helping Chicago Public School graduates and their families pursue higher education and graduate debt free. The announcement occurred at Chicago State University, where the 2021 cohort of Hope Chicago scholars was introduced.
"Our Purpose at BMO is to boldly grow the good in business and life, and we are very proud to be Hope Chicago's first corporate partner," said Eric Smith, Vice Chairman, BMO Harris Bank. "We encourage Chicago's business community to join us in supporting this incredibly impactful new organization, which will focus on reducing social and economic inequity by dramatically increasing the availability of scholarship funding to local students who are most in need."
Hope Chicago, which has a goal of raising and investing at least $1 billion over the next decade, will provide other forms of support beyond funding, including counseling, mentoring and career guidance, eliminating barriers to educational and economic equity.
"I am so grateful for BMO stepping up to the plate as Hope Chicago's first corporate sponsor," said Dr. Janice K. Jackson, CEO of Hope Chicago. "The BMO team shares our belief that a two-generation model like Hope Chicago has the potential to change the lives of Chicago families and neighborhoods. It will take Chicago's entire community, including civic and business leaders, to help redefine the education landscape and put our students and their families on a path to greater success. We welcome others to join BMO as a significant supporter of Hope Chicago."
BMO will be actively involved with the scholarship recipients, identifying broader opportunities to engage with them through financial literacy programing, mentoring, internships and employment opportunities.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $971 billion as of July 31, 2021, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Harris Bank