The bank said that the card will designate a percentage of the value of the card’s transactions to support CPAC programs that help its members successfully establish themselves and their families in Canada.
The BMO CPAC MasterCard can be used anywhere in the world where MasterCard is accepted. It will offer all of the features of a regular BMO MasterCard including the ability to earn rewards on card purchases. Customers can choose either the Gold AIR Miles MasterCard or the No Fee AIR Miles MasterCard. They also have the option of choosing to earn CashBack on their purchases.
Nancy Marescotti, director of card marketing at BMO Bank of Montreal, said: “Every year more than 200,000 newcomers choose Canada as their home and the largest percentage of newcomers are from Mainland China. This exclusive affinity arrangement with CPAC demonstrates BMO’s commitment to the Chinese community and to helping professional newcomers establish the credit they need to get a solid head start in their new country.”
Howard Shen, president of CPAC, said: “”Through this arrangement BMO and CPAC can promote both organizations’ names and brands in the local community, and, as the affinity partner, CPAC will use the revenue stream to develop new programs and to support existing programs such as newcomer career programs, professional mentoring and support, the CPAC Professional Achievement Award and to support our Education Foundation for scholarships to students.”
Adrian Cheung, director of multicultural markets in greater Toronto area at BMO Bank of Montreal, said: “Many of our community branches are staffed with employees who are fluent in Chinese and who can offer financial solutions that we have specifically designed to help newcomers fulfill their personal and financial dreams. Our Direct Banking services and ABMs have Chinese language services as well.
The Chinese Professionals Association of Canada (CPAC) was founded in 1992 with the objective of serving and representing the interests of professionals who are new to Canada.
