BMO Celebrates Pride with Return of Rainbow Deposits
Press Release
TORONTO and CHICAGO,May 30, 2024 – BMO is kicking off the third year of its Pride-themed “Rainbow Deposits” campaign, running today through the end of August. This campaign invites people in Canada and the United States to “deposit” pictures of rainbows using the BMO Rainbow Deposits web app at BMORainbowDeposits.com and share on social media using the hashtag #BMOPride.
During Pride season, Rainbow Deposits aims to bring real, tangible value to every rainbow with donations that support the 2SLGBTQ+ community worldwide. For every rainbow deposited, BMO will donate $1 to Rainbow Railroad, up to $50,000 CAD. All are encouraged to participate in the campaign, regardless of one’s financial institution.
Rainbow Railroad, a long-term partner of BMO, is a non-profit organization based in the United States and Canada that helps at-risk members of the 2SLGBTQ+ community get to safety worldwide. Since its inception Rainbow Railroad has helped more than 13,000 people find safety through emergency relocation, crisis response and other forms of assistance.
“Throughout Pride season, rainbows fill neighbourhoods across North America, showing support and allyship for the 2SLGBTQ+ community,” said John McNain, Chief Operating Officer, North American Personal & Business Banking, BMO, and a Director of Rainbow Railroad. “BMO is proud to partner with Rainbow Railroad for the third year in a row and continue to make progress towards an inclusive society. Our commitment is to donate $1 for every rainbow deposited throughout the summer, which will translate into life-saving support for 2SLGBTQ+ people in need.”
“Rainbow Railroad is grateful to partner with BMO for the third year on their Rainbow Deposits campaign this Pride season to raise vital funds for our mission to help at-risk LGBTQI+ people around the world get to safety,” stated Caleb Goodman, Chair of the Rainbow Railroad Board of Directors. “Over the past two years, the Rainbow Deposits campaign has raised $100,000 for our life-saving work and has helped dozens of vulnerable LGBTQI+ people begin new lives in safer countries like Canada and the U.S. where they can live openly, authentically and without fear. We’re excited to see all the rainbows that are deposited this summer as we work to help more LGBTQI+ people find safety in 2024 than ever before in our organization’s history.”
In addition to promoting Rainbow Deposits at parades, festivals and professional soccer league Pride matches across Canada and the U.S., BMO’s Gaming Relations Specialist will host a special BMO NXT LVL x Rainbow Deposits Game-athon stream with drag performer and gamer Juice Boxx at 7 p.m. ET on June 12.
Additional ways BMO supports Pride and the 2SLGBTQ+ community:
- BMO is proud to have a long history of sponsoring Pride-related events in communities across North America – including the pride & remembrance run in Toronto which BMO has sponsored for 28 years. The run raises funds to support 2SLGBTQ+ organizations and fosters community spirit, goodwill, volunteerism and sportsmanship in the Canadian 2SLGBTQ+ community.
- The BMO Pride employee resource group, consisting of more than 5,500 2SLGBTQ+ and ally employees, guides the bank’s commemoration and celebration of Pride. BMO Pride is committed to ensuring BMO is a place where 2SLGBTQ+ employees and customers can always be their authentic selves, everywhere BMO does business.
- Road to Allyship training was created for BMO employees to be supportive of their 2SLGBTQ+ colleagues and customers. The course offers steps and resources that help to strengthen their ability to stand up for others.
- Mastercard’s True Name™ enables transgender and non-binary individuals to use their chosen name across BMO banking cards without the requirement of a legal name change; BMO was the first financial institution to issue the cards.
- BMO’s Gender Pronoun Initiative, including employee training on Respecting Pronouns: The Importance of Inclusion, illustrates the bank’s commitment to creating safe, inclusive spaces for 2SLGBTQ+ colleagues and customers.
More information on BMO’s Diversity, Equity and Inclusion commitments, can be found here.
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.4 trillion as of April 30, 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.
About Rainbow Railroad
Rainbow Railroad is an international charitable organization with headquarters in New York and Toronto that helps LGBTQI+ people seeking safe haven from state-enabled violence and persecution in countries where same-sex intimacy and diverse gender expressions and sex characteristics are criminalized. Rainbow Railroad is a registered Canadian charity and 501(c)3 organization in the USA. For more on Rainbow Railroad, visit www.rainbowrailroad.org.
For further information: Media contact: Kate Simandl, Toronto, kate.simandl@bmo.com, (416) 867-3996
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