Indspire Announces Contribution from CIBC Mellon to Support Indigenous Youth
Ohsweken, ON – August 19, 2024 – Indspire is proud to announce support from CIBC Mellon, for Indigenous students in their educational journeys. CIBC Mellon, a leading Canadian provider of asset servicing solutions, has pledged $100,000 over the next four years with an annual contribution of $25,000. This generous commitment and a government match will provide vital bursaries to ten students annually across Canada.
The funds will be used to provide five bursaries each year, which will be matched by the government, effectively doubling the support and benefiting ten students annually. The bursaries will primarily support students in undergraduate programs focused on business, technology, and engineering. If there are not enough applicants in these fields, the bursaries will be available to undergraduate students in any program. Additionally, post-graduate students in business, engineering, STEM (Science, Technology, Engineering, Math), and/or technology programs will also be eligible.
“We are proud to support Indspire as they work toward their goal of increasing graduation rates for Indigenous students to help them reach their full potential,” said Maple Tam, Chief Human Resources Officer, CIBC Mellon. “This collaboration aligns with our commitment to empowering Indigenous communities through initiatives and organizations like Indspire that promote education and capacity building. We believe that education is a powerful tool for empowerment and are proud to contribute to the success and future of Indigenous students across Canada.”
Indspire’s President & CEO, Mike DeGagné, expressed his appreciation, noting its significant impact on Indigenous education. “We are grateful for CIBC Mellon’s generous pledge and their commitment to supporting Indigenous students. Helping more students have the financial resources they need to pursue their educational dreams, ultimately contributes to the growth and development of Indigenous communities across the country.”
Indspire is a national Indigenous charity that invests in the education of Indigenous people for the long-term benefit of these individuals, their families, and communities, and Canada. Through its numerous programs, Indspire provides financial support to Indigenous students, enabling them to complete their education and reach their full potential.
About CIBC Mellon
CIBC Mellon is a Canadian company exclusively focused on the investment servicing needs of Canadian institutional investors and international institutional investors into Canada. Founded in 1996, CIBC Mellon is 50-50 jointly owned by The Bank of New York Mellon Corporation (BNY) and Canadian Imperial Bank of Commerce (CIBC). CIBC Mellon’s investment servicing solutions for institutions and corporations are provided in close collaboration with our parent companies, and include custody, multicurrency accounting, fund administration, recordkeeping, pension services, exchange-traded fund services, securities lending services, foreign exchange processing and settlement, and treasury services. As at June 30, 2024, CIBC Mellon had more than C$2.8 trillion of assets under administration on behalf of banks, pension funds, investment funds, corporations, governments, insurance companies, foreign insurance trusts, foundations and global financial institutions whose clients invest in Canada. CIBC Mellon is part of the BNY network, which as at June 30, 2024, had US$49.8 trillion in assets under custody and/or administration. CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY trade-marks, is the corporate brand of CIBC Mellon Global Securities Services Company and CIBC Mellon Trust Company, and may be used as a generic term to refer to either or both companies.
About Indspire
Indspire is a national Indigenous charity that invests in the education of First Nations, Inuit, and Métis people for the long-term benefit of these individuals, their families, communities, and Canada. With the support of its funding partners, Indspire provides financial awards, delivers programs, and shares resources to help Indigenous students achieve their highest potential. In 2023-24, Indspire provided more than $30 million through over 8,300 bursaries and scholarships to Indigenous students across Canada.
