Celebrating Milestones and Community Impact Through EMpower

As BMO reflects on its journey, the commitment to helping customers, communities, and colleagues make progress remains at the forefront of its mission. This fall, BMO proudly celebrates significant milestones in its rich 200-year history, marking a transformative period for the organization. 

It has been 40 years since BMO expanded into the U.S. with the acquisition of Harris Bank, and just one year since the full entry into the West through the acquisition of Bank of the West. Four decades ago, BMO was the 34th largest bank in the U.S. and the 3rd largest in Chicago. Today, it is honored to be recognized as a top 10 U.S. bank and the largest bank based in Chicago. 

Additionally, it has been two years since the relocation to the BMO Tower in Chicago, which serves not only as the U.S. headquarters but also as a hub for community collaboration. During the construction phase, support for local diverse suppliers was prioritized, with approximately 60% of contractors being minority-owned. The new office space allows for hosting community events, including recent Community Advisory Council meetings. 

August marked 18 months since the launch of EMpower 2.0, a $40 billion, 5-year community benefits plan that embodies the purpose to Boldly Grow the Good in business and life. As of September 30, 2024, more than $12.9 billion has been delivered toward an ambitious $40 billion goal, surpassing expectations.  

This progress reflects the momentum and invaluable partnerships developed while working towards the target by 2028. To amplify its impact, BMO has deepened relationships, launched new products and services, and engaged in various events across the U.S. to promote a more inclusive society.  

Over the past few months, we have: 

• Expanded our Latino Leaders Index to include the 500 largest Latino-owned businesses in the U.S. by revenue and hosted eight celebratory receptions from Denver to Los Angeles to honor these businesses in partnership with Latino Leaders Magazine. 

• Launched our Latino-focused Market Plus podcasts. 

• Received a Bank Innovation Award from the National Minority Community Reinvestment Cooperative for our Zero Barriers to Business and Special Purpose Credit Programs, pivotal in closing the racial wealth gap and providing equitable opportunities for Black and Latino communities. 

• Expanded our Zero Barriers to Business programs to include Asian, LGBTQ+, and Veteran-owned businesses, building on our initiatives for Black, Hispanic/Latino, Native, and Women-owned businesses. 

• Awarded $150,000 in grants to 15 women-owned businesses across the U.S. through our Celebrating Women Grant program, fueling growth and innovation. 

As the holiday season approaches, BMO continues its tradition of giving back to communities through the annual Employee Giving Campaign. Last year, an impressive 88% of North American employees participated, donating a total of $31 million to organizations they care about. This year’s campaign is off to a strong start, with a partnership with the United Way to support giving and volunteer activities. 

A video highlighting the holistic community impact being made in the U.S. and the wonderful partners involved is available for viewing. Together, positive change can continue to be created, fostering a brighter future for all.