The new partnership supports newcomers by providing access to trusted online resources and educational content to support financial literacy. With more than 1.5 million monthly page views and one million combined monthly followers on social media, Immigration.ca is a leading source of multi-disciplinary resources in the Canadian immigration industry and will feature insights and guidance on essential financial topics for a newcomer audience including building credit history, establishing saving habits and building long term wealth.
During Canada’s 2021 Census, nearly 1 in 4 people counted were or had been a landed immigrant or permanent resident in Canada, the highest proportion since Confederation and the largest proportion among G7 countries. Just over 1.3 million new immigrants settled permanently in Canada from 2016 to 2021, the highest number of recent immigrants recorded in a Canadian census.1
“BMO and Immigration.ca are helping newcomers make real financial progress by providing access to critical resources and essential tools to help them establish their financial life in Canada and make a smooth transition into their new life,” said Sumit Sarkar, Head, Customer Growth, BMO. “BMO’s commitment to supporting newcomers is grounded in its Purpose to Boldly Grow the Good in business and life.”
“Newcomers are fundamental to the future economic and cultural fabric of Canada and we welcome this new partnership with BMO to provide resources and insights to help them excel,” said Colin Singer, CEO, Immigration.ca
- BMO Helps Newcomer Customers Make A Smooth Transition Into Their New Life
- BMO’s NewStart program provides customers with a suite of best-in-class, personalized, no-fee banking products including, savings accounts, customized mortgage options, credit with no credit history, investments and worldwide money transfers to get finances up and running.
- To help with their transition, BMO SmartProgress is a free online financial education program that provides newcomers with a customized, on-demand and interactive learning experience. This financial literacy platform is geared to help educate newcomers on the Canadian banking system and assist them in creating good financial habits while starting a new life in Canada. It features bite-sized content, including videos and tools, to allow newcomers to better understand complex financial topics, including budgeting and credit management, homeownership and investing in their future.
- In 2022, amidst a series of global crises driving a record number of people to resettle in North America, BMO also introduced its Newcomer Talent Program, a recruitment program for displaced persons, immigrants, and refugees, providing support and creating employment opportunities for newcomers to Canada and the United States. Through this program, BMO has partnered with two specialized employment organizations to help match prospective newcomer candidates with open roles at the Bank.
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 $1.14 trillion as of October 31, 2022, 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 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
Established in 1994, Immigration.ca is a recognized authority on Canadian immigration policies and integrated resources for newcomers, across all economic programs. Through its in-house international mobility and foreign recruitment enterprise Skilledworker.com, it has become a source of qualified international candidates for Canadian employers and HR managers across many industries affected by historic labour shortages, with emphasis on providing proprietary career-building training to foreign professionals seeking successful transition to Canada.