BMO Employees Rally Together to Combat Economic and Social Disparity

• Company-wide, 10^th annual Employee Giving Campaign to benefit the United Way among a wide range of organizations
• Almost $190 million donated cumulatively during decade-long employee-driven campaign, including $22 million and counting in 2020

TORONTO and CHICAGO, Dec. 18, 2020 /PRNewswire/ - In a year that's seen tremendous social and economic challenges, BMO employees across North America have come together to fuel positive change where they live and work through the 10^th annual Employee Giving Campaign. In addition to the $66 million in corporate donations BMO has made in 2020, since late November, close to 90 per cent of employees have already donated more than $22 million to the United Way and organizations focused on education, health, food security, animals, legal aid, and LGBTQ2+ causes. With major gifts still being collected, the donations are geared to address the disproportionate impacts in health and economic outcomes exacerbated by the pandemic, as well as the chronic imbalances that impede prosperity and well-being – especially for Black, Indigenous, and People of Colour (BIPOC) communities.

"As a Purpose-driven company, we are grateful for the opportunity to respond to the unprecedented need in our communities, intensified by COVID-19," said Joanna Rotenberg, Group Head, BMO Wealth Management and 2020 Major Individual Giving Cabinet Chair for the United Way of Greater Toronto. "The disparity between those who are thriving and those who are struggling as a result of systemic barriers is more apparent than ever, and finding ways to curb the impacts of the pandemic on health, gender and racial equality, and economic prosperity has galvanized our employees to give back now."

With an ongoing commitment to foster a more just society with zero barriers to inclusion, BMO's employees have embraced a focus on vulnerable communities where existing challenges are more severe. Contributions are also helping to fuel an inclusive recovery that addresses structural inequities for BIPOC communities that BMO has been confronting in its longstanding partnership with the United Way and other organizations.

Throughout the last 10 years of the employee-driven campaign, BMO has raised almost $190 million as part of its culture of giving back, and was recently recognized as one of Canada's Most Admired Corporate Cultures by Waterstone Human Capital.

Additional details regarding this year's final donation tally will be revealed at a later date. For more information on BMO's corporate social responsibility, please visit: https://our-impact.bmo.com/.

BMO's Partnership with United Way
BMO is a long-time partner of United Way in its Building Strong Neighbourhoods initiatives to overcome challenges to inclusive economic opportunity. BMO is a founding partner of the Inclusive Local Economic Opportunity initiative, a ground-breaking effort spearheaded by BMO and United Way Greater Toronto that brings together business and community leaders to work together in reducing economic disparity. The bank has extended this model to Chicago. BMO previously donated $10 Million to United Way in each community to support the efforts. Additionally, in 2019, BMO employees donated more than $22 million to United Way and other charities through the annual BMO Employee Giving Campaign.

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 $949 billion as of October 31, 2020, 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 Financial Group