HSBC partners with Indspire and Pathways to Education to deliver $1M in
programs to support Indigenous students across Canada
VANCOUVER, June 20, 2014 /CNW/ - HSBC Bank Canada is joining forces with two
proven partners and substantially increasing its support for education
programs for Indigenous youth. Building on its existing scholarship programs
for Indigenous peoples, the bank's increased funding is resulting in a total
of $1m in new programs to be delivered by Indspire and Pathways to Education
Canada. Specifically designed to enable more youth to successfully complete
high school and make the transition to post-secondary education, the new HSBC
programs are expected to assist nearly 500 youth in 2014 alone.
Consistent with its global commitment to education, HSBC Bank Canada is
contributing $300,000 over three years to Indspire to create the HSBC
Indigenous Business Award - with a federal government match bringing the total
investment to $600,000 - and $400,000 over three years to Pathways to
Education Canada to establish the Pathways HSBC Indigenous Educational
These new programs directly address the challenge of access to education among
Indigenous youth: in 2011 less than 50 per cent of Indigenous youth in Canada
graduated from high school - compared to 80 per cent of non-Indigenous
Canadians; and while 27 per cent of non-Indigenous students go on to
university, only 10 per cent of Indigenous students will acquire a university
education. Research conducted by Indspire shows that lack of financial
resources is the number one barrier for Indigenous students in completing
their post-secondary education.
Paulo Maia, President and Chief Executive Officer, and Executive Sponsor of
HSBC's Indigenous Canadian Employee Resource Group, HSBC Bank Canada, said:
"HSBC currently offers six permanently endowed awards for Indigenous students
at colleges and universities across Canada — but we want to do more.
Through our commitment to Indspire and Pathways to Education Canada, we aim to
help Indigenous youth achieve their full potential, as well as provide
opportunities for our employees to connect with Indigenous communities."
The HSBC Indigenous Business Award will be granted to 188 Indigenous
undergraduate students studying business at post-secondary institutions across
Canada over the next three years.
Roberta Jamieson, President and CEO of Indspire, said: "We are thrilled that
HSBC is demonstrating their support of Indigenous education in Canada with
such a strong commitment to Indspire. This award will give many Indigenous
business students the financial support they need to complete their studies,
be well positioned for the job market, and contribute to Canada's economy."
The Pathways HSBC Indigenous Educational Attainment Fund will support the
delivery of the Pathways program tailored to Indigenous youth to more than 400
students per year. The program will work alongside local school systems,
providing after-school tutoring, mentoring and financial assistance to address
the barriers that can stand in the way of high school graduation; and
employees of HSBC will work directly with students at mentorship and career
Vivian Prokop, President and CEO of Pathways to Education Canada, said:
"HSBC's commitment to making a real and lasting difference in the lives of
Indigenous youth is truly a long-term investment in building communities. This
program recognizes the unique challenges our students face and provides the
skills that youth need to succeed both in and out of the classroom."
Earlier this year, HSBC Bank Canada launched an Indigenous Canadian Employee
Resource Group to raise awareness and support Indigenous employees and
Added Maia: "The launch of the Indigenous Canadian Employee Resource Group is
a significant milestone for HSBC. Our vision is to embed diversity into every
aspect of our culture by establishing a workplace free of conscious or
unconscious bias, where all employees have an equal opportunity to succeed
based on their unique skills and accomplishments."
HSBC's employee resource groups facilitate open discussion of workplace
issues, provide a learning forum, and foster an environment that supports
diversity and inclusion. The eight employee resource groups at HSBC include:
the Asia Pacific Islanders Committee, the Hispanic Latin Diversity Committee,
the Indigenous Canadian Employee Resource Group, the Pride Network, the People
with DisAbilities Committee, the South Asian Network for Diversity and
Inclusion, the Women's Network, and Y-Knot.
Notes to editors:
1. Photo will be available Friday afternoon PST on June 20 via CNW
2. About HSBC Bank Canada
HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the
leading international bank in Canada. The HSBC Group serves
customers worldwide from over 6,300 offices in over 75 countries
and territories in Europe, Asia, North and Latin America, and the
Middle East and North Africa. With assets of US$2,758bn at 31
March 2014, HSBC is one of the world's largest banking and
financial services organizations.
3. About Indspire
Indspire is an Indigenous-led registered charity that invests in
the education of Indigenous people for the long term benefit of
these individuals, their families and communities, and Canada.
With the support of its funding partners, Indspire disburses
financial awards, delivers programs, and shares resources with the
goal of closing the gap in Indigenous education. Through the
Indspire Institute, it conducts research and provides support for
community-driven solutions to improve kindergarten to grade 12
success for Indigenous youth. Since its inception in 1985,
Indspire has disbursed over $65 million through more than 20,000
scholarships and bursaries to Indigenous students, making it the
largest funder of Indigenous education outside the federal
government. Each year, the charity presents the Indspire Awards, a
gala celebration of the successes achieved by Indigenous people
that is broadcast nationally. For more information, please visit
4. About Pathways to Education Canada
Pathways to Education Canada is a charitable organization that
helps youth in low-income communities graduate high school and
successfully transition into post-secondary education or training.
Pathways addresses systemic barriers to education by providing
leadership, expertise and a community-based program proven to
lower dropout rates. Founded in 2001, Pathways operates in 16
communities across Canada, with programs in Ontario, Quebec, Nova
Scotia and Manitoba. Pathways was recently recognized with a 2013
World Innovation Summit for Education award (WISE) from the Qatar
Foundation for its innovative and effective work in education.
SOURCE HSBC Bank Canada
Media enquiries to: Sharon Wilks416-868-3878 Aurora
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CO: HSBC Bank Canada
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-0- Jun/20/2014 11:00 GMT
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