On October 21, BMO Harris Bank announced a $10 million donation to United Way of Metro Chicago at a press conference hosted by Chicago Mayor Lori Lightfoot in the city’s Austin neighbourhood. This donation is the bank’s largest U.S. philanthropic donation ever and will support the United Way’s Neighborhood Network, an initiative designed to reduce economic disparity and create sustainable opportunities in 10 neighbourhoods across Chicagoland.
“Economic opportunity and strong neighbourhoods go hand in hand,” said Dave Casper, U.S. CEO. “As an institution with deep Chicago roots, we consider it our responsibility to boldly grow the good across the city and that includes building strong, resilient neighbourhoods. BMO is proud to take a leadership role alongside United Way in encouraging other Chicago corporations and business leaders to also make meaningful commitments to strengthen these communities. We look forward to working with the entire City of Chicago to remove barriers to economic inclusion for all Chicagoans.”
In 2013, BMO was the cornerstone investor for the United Way’s Neighborhood Network initiative to create and implement break-through strategies to reduce economic disparity. Bringing together business leaders and community leaders, the Neighborhood Network strives to engage residents, build a greater sense of community, expand education and connect residents to workforce opportunities.
The latest donation will be heavily concentrated in the Austin neighbourhood to help execute their community revitalization plan and to support programs, social service infrastructure and capital improvement. The remaining investment will be directed to build infrastructure and develop organizational capacity across United Way’s other Neighborhood Networks.
BMO has a long history of supporting sustainable development in communities across North America. Last fall, BMO Financial Group announced a $10 million donation to the United Way Greater Toronto to tackle economic disparity in the city.
This donation is another example of putting our purpose to Boldly Grow the Good in business and life into action by aligning with our Bold Commitments and using our resources and expertise to help build strong and resilient neighborhoods.