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Pride Lives Here: BMO Turns Pride Rainbow Symbol into Action

June 1, 2022 | Purpose

BMO Financial Group today announced its new Pride-themed “Rainbow Deposits” campaign, inviting Canadians and Americans to “deposit” pictures of rainbows using the BMO Rainbow Deposits web app at www.BMORainbowDeposits.com and share on social media using the hashtag #BMOPride.

For every rainbow deposited, BMO will donate $1 to Rainbow Railroad, up to $50,000. Rainbow Railroad is a non-profit organization committed to helping persecuted members of the 2SLGBTQ+ community find safety around the world. In 2021, Rainbow Railroad helped more than 8,000 members of the 2SLGBTQ+ community from 101 different countries. Anyone can participate in the campaign, regardless of their financial institution. People can also discover rainbows nearby them within the app map, while keeping track of progress towards the donation goal.

“BMO has always been a proud supporter of the 2SLGBTQ+ community and Pride dating back to the early 1980’s with our support of efforts to end HIV/AIDS. This program exemplifies our Purpose to Boldly Grow the Good in business and life and strengthens our commitment to Zero Barriers to Inclusion – supporting safety and security for everyone,” said Paul Noble, Chief Legal and Compliance Officer, BMO Capital Markets and Executive Sponsor for BMO Pride Canada. “BMO Rainbow Deposits represents a new and exciting way to support the 2SLGBTQ+ community, by turning any rainbow into resources for those in need.”

“At Rainbow Railroad, we understand the importance of queer visibility around Pride. The BMO Rainbow Deposits campaign turns that visibility, through rainbows, into meaningful action by supporting Rainbow Railroad and creating real change for members of the 2SLGBTQ+ community around the world,” said Dane Bland, Director of Development & Communications at Rainbow Railroad. “The donations made possible by BMO and this campaign will help Rainbow Railroad respond to many members of the 2SLGBTQ+ community reaching out to us for life-saving support. We’re so grateful.”

Rainbow Deposits is the latest in BMO’s longstanding commitment to the 2SLGBTQ+ community, which includes more than two decades of Pride sponsorship. BMO recently became the first Canadian financial institution to offer Mastercard’s True NameTM feature, which enables transgender and non-binary Canadians to display their chosen name on their card. In December 2019, BMO Harris was also the first bank in the United States to issue the True NameTM debit card. In June 2020, BMO Harris expanded the availability of Mastercard’s True Name feature to additional payment card types.

Additional ways BMO supports Pride and the 2SLGBTQ+ community:

  • For the fifth consecutive year, in January 2022 BMO Harris Bank was recognized by the Human Rights Campaign Foundation as an industry leader in LGBTQ+ workplace equality – receiving a score of 100 on the 2022 Corporate Equality Index (CEI). 
  • 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 26 years. The run raises funds to support 2SLGBTQ+ organizations and fosters community spirit, goodwill, volunteerism and sportsmanship in the Canadian 2SLGBTQ+ community.
  • Underpinning our efforts as an organization is BMO Pride. BMO Pride is an enterprise-wide group of Two-Spirit, Lesbian, Gay, Bisexual, Transgender, Queer or Questioning (2SLGBTQ+) and ally employees committed to promoting an equitable and inclusive environment for all.
  • BMO Road to Allyship training program was created for BMO employees who want to be supportive of their 2SLGBTQ+ colleagues. The course offers steps and resources that will help to strengthen their ability to stand up for others.

Learn more about BMO’s commitment to zero barriers to inclusion. 

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