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Pride lives here: BMO celebrates Pride with the return of Rainbow Deposits

June 1, 2023 | Diversity, equity and inclusion, Purpose

BMO is kicking off the second year of our Pride-themed Rainbow Deposits campaign, running June 1 through August 31. This campaign invites the public to “deposit” photos of rainbows using the BMO Rainbow Deposits web app at BMORainbowDeposits.com and share them on social media using the hashtag #BMOPride. For every rainbow deposited, BMO is donating $1 to Rainbow Railroad, up to $50,000 CAD.  

Rainbow Railroad is a non-profit organization that helps at-risk members of the 2SLGBTQ+ community find safety all over the world. Rainbow Railroad has received more than 3,800 requests for help in just the first half of 2023.  

All are encouraged to participate in the campaign, regardless of their financial institution. People can also discover rainbows nearby within the app map, while tracking donation progress. 

BMO Rainbow Deposits is back

“At BMO, we’re dedicated to fostering an environment where all colleagues and customers are valued, respected and heard – where everyone feels that they belong and can show up as their authentic self. We encourage everyone to deposit multiple rainbows over the summer, and be a part of this exciting initiative that closely aligns with our Purpose to Boldly Grow the Good in business and life. The deposits will translate into tangible, life-saving support for 2SLGBTQ+ people in need. Rainbow Railroad has many requests for help, and BMO’s donation of $1 for every rainbow deposited will enable Rainbow Railroad to help even more people find safety through emergency relocation and other forms of assistance – and drive progress for an inclusive society.” 

– John McNain
Head, Canadian Personal Banking Products and Experience, and a Director of Rainbow Railroad

Rainbow Deposits is just one way BMO is supporting Pride and the 2SLGBTQ+ community. Our longstanding commitments include: 

  • For the fifth consecutive year, BMO U.S. was recognized by the Human Rights Campaign Foundation as an industry leader in LGBTQ+ workplace equality – receiving a top score of 100 on the 2022 Corporate Equality Index. 
  • BMO is proud to sponsor Pride-related events in communities across North America, including the pride & remembrance run in Toronto, which BMO has sponsored for 27 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 2,100 2SLGBTQ+ and ally employees committed to promoting an equitable and inclusive environment for all, guides the bank’s commemoration and celebration of Pride. BMO Pride released a Road to Allyship e-learning course outlining ways to be supportive of 2SLGBTQ+ colleagues.  
  • Mastercard’s True Name™ feature 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 in the U.S. and Canada.​ 

Learn more about BMO’s diversity, equity, and inclusion commitments. 

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