BMO Employees Donate $31 Million - and Counting - to Help Communities Thrive

Rhea-AI Summary

BMO announced that 90% of its employees have donated $31 million to United Way and other community organizations across North America during its 14th annual Employee Giving campaign, exceeding the $27 million goal. Additionally, BMO pledged $18 million in corporate donations to United Way chapters in Toronto, Chicago, Milwaukee, Los Angeles, and Montreal, bringing the total to $49 million.

The campaign, launched on Giving Tuesday (December 3, 2024), included 21 community kit packing events across 17 locations, where over 1,200 BMO employee volunteers assembled nearly 11,000 care kits. Over the past five years, BMO employees have personally contributed more than $130 million to North American charities through the annual campaign. In 2023, BMO's social impact included over $84 million in donations, with employees contributing 62,000 volunteer hours.

Positive

• 90% employee participation rate in giving campaign
• Exceeded donation goal of $27 million by reaching $31 million
• $18 million additional corporate donation to United Way chapters

Negative

• None.

Insights

Market Research Analyst

BMO's employee giving campaign reaching $31 million with 90% participation represents more than just corporate philanthropy - it's a significant indicator of strong organizational health and employee engagement. The total contribution of $49 million including corporate matching demonstrates BMO's robust financial position and commitment to social impact. These donations, while positive for corporate image and ESG metrics, are unlikely to materially impact BMO's $71.1 billion market capitalization or near-term stock performance. However, the high employee participation rate suggests strong internal culture and employee satisfaction, which typically correlates with lower turnover rates and higher productivity - factors that can positively influence long-term operational efficiency and profitability.

ESG Specialist

The scale and structure of BMO's giving campaign offers valuable insights into their ESG strategy execution. The 90% employee participation rate significantly exceeds industry averages, positioning BMO as a leader in corporate social responsibility. The strategic focus on United Way partnerships and the geographic distribution across major North American markets indicates a well-coordinated approach to community investment. The five-year cumulative employee donation of $130 million establishes a consistent pattern of social impact that resonates with ESG-focused investors. While this program enhances BMO's social capital and strengthens community relationships, its primary value lies in risk mitigation and brand enhancement rather than direct financial returns.

• 90% of employees participated in the industry-leading BMO Employee Giving campaign.
• BMO gifts an additional $18M to five United Way agencies across North America.

TORONTO and CHICAGO, Jan. 13, 2025 /PRNewswire/ - BMO today announced that 90% of its employees have personally donated $31 million¹ to BMO's strategic partner, the United Way, and thousands of other community organizations across North America as part of its 14^th annual, industry-leading, Employee Giving campaign – surpassing the bank's $27 million donation goal.

"Inspired by our Purpose, to Boldy Grow the Good in business and life, Team BMO took remarkable action to drive progress for communities across North America during this year's industry-leading Employee Giving campaign," said Darryl White, Chief Executive Officer, BMO Financial Group. "Together, we're building stronger neighbourhoods and healthier communities through partnerships with organizations like the United Way that work to address the root causes of inequity and deliver support directly where it's needed most."

In addition to the $31 million donated by employees, BMO continued to support United Way with corporate pledges of more than $18 million² to local United Way chapters in Toronto, Chicago, Milwaukee, Los Angeles and Montreal, which were announced during the 2024 campaign, for a total of $49 million³.

Over the past five years, BMO employees have personally donated more than $130 million to charities across North America through the company's annual Employee Giving campaign.

"When we invest in building stronger, more equitable communities, especially for those who are most vulnerable in our society, we all benefit," said Angela F. Williams, President and Chief Executive Officer at United Way Worldwide. "We are proud to partner with BMO and applaud its team members for their generous support of United Ways across North America. This collaboration has a direct impact on communities by strengthening local resilience, and advancing health, youth opportunity, and financial security so all can thrive."

BMO kicked off its Employee Giving campaign on Giving Tuesday (December 3, 2024) by hosting 21 community kit packing events in 17 locations across North America in partnership with the United Way. More than 1,200 BMO employee volunteers assembled nearly 11,000 care kits based on the needs of the communities where they were distributed – including hygiene kits, cold weather kits, literacy kits, and snack packs – all benefiting United Way and/or United Way partner agencies.

For more information on BMO's community-focused activity corporate social responsibility, please visit: https://our-impact.bmo.com/ 

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1 The $31 million is the total of donations made in local currency by BMO employees.

2 The $18 million is the total of donations made in local currency by BMO.

3 The $49 million is the total of all donations made in local currency.

BMO's Partnership with United Way

BMO is a long-time partner of United Way in its mission to support agencies that build and directly serve neighbourhoods throughout North America. With its unique capability to identify needs and support wide-reaching front-line programs, United Way is reducing economic disparities and joins BMO in driving real progress in the communities we serve. 

BMO Gives. Good grows here. 

Helping communities thrive by supporting the organizations that sustain them and encouraging employee giving and volunteerism is at the heart of BMO's Purpose, to Boldly Grow the Good in business and life. In 2023, our social impact included more than $84 million donated to hundreds of charities and non-profit organizations across North America to help drive progress by enabling individuals to thrive and communities to prosper. Our colleagues spent almost 62,000 hours volunteering in the community and contributed more than $31 million of donations through our annual employee giving program. For more information, please visit BMO.com. 

About BMO Financial Group 

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.41 trillion as of October 31, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society. 

View original content:https://www.prnewswire.com/news-releases/bmo-employees-donate-31-million--and-counting--to-help-communities-thrive-302349329.html

SOURCE BMO Financial Group

FAQ

How much did BMO employees donate in the 2024 Employee Giving campaign?

BMO employees donated $31 million during the 2024 Employee Giving campaign, surpassing the bank's $27 million donation goal.

What is the total amount of BMO's combined employee and corporate donations in 2024?

The total combined donations amount to $49 million, consisting of $31 million from employee donations and $18 million from corporate pledges to United Way chapters.

How much has BMO employees donated over the past five years through the giving campaign?

Over the past five years, BMO employees have personally donated more than $130 million to charities across North America through the annual Employee Giving campaign.

Which United Way chapters received BMO's corporate pledges in 2024?

BMO pledged corporate donations to United Way chapters in Toronto, Chicago, Milwaukee, Los Angeles, and Montreal.

What was BMO's employee participation rate in the 2024 giving campaign?

90% of BMO employees participated in the 2024 Employee Giving campaign.