Hey everyone, I’ve been digging around online and I’ve recently learned about the CIBC Miracle Day. So, I figured I’d share. CIBC is a world leader in personal banking whose Wood Gundy branch employees decided to create this fundraiser in 1984. Their goal through the fundraiser is to help children, and they’ve done a great job over the years. In the last 3 years alone, the CIBC Miracle day has resulted in $69 million dollars donated to charities in canada and over $250 million worldwide!
So, How Does CIBC Miracle Day Work?
Miracle Day is on December 4th this year, as it’s held on the first Wednesday in December every year. On this day, CIBC’s wholesale banking employees as well as CIBC Wood Gundy Investment Advisors who decide to participate donate their commissions and fees to a children’s non-for-profit corporation.
In order to continue to promote charitable giving to children’s foundations worldwide, CIBC founded and registered the CIBC Children’s Foundation. The foundation is a charitable organization whose role is to administer the funds raised on each miracle day to support a range of programs benefiting children, including hot meals to start the school day, shelter for families in crisis, camp opportunities, and skills development. This year in Canada alone, CIBC will donate $4.5 million dollars to children’s charities across the nation.
A Bit About The History Of CIBC’s Miracle Day
The tradition of Miracle Day in CIBC started in 1984. The best part of this day is it was not started by the company, but by the employees of a Wood Gundy office in Toronto. These employees saw a need and had a heart for helping children. On the first Wednesday of December, 1984, the tradition was born and these employees would give their commissions and fees for that day to charitable organizations that helped children.
The branch in Toronto that started the trend was the 42nd street branch. Yes, the one named after the famous 42nd street in New York. The branch manager and Timothy Miller and his Investment Advisors came up with a great idea. The idea was to use the good fortunes the community has made possible to assist in the growth and nurturing of their communities’ most prized commodity, children. Although, for those who live on commission only work, giving up commission for even one day can be a big deal, they decided to make it happen for the betterment of their community.
The first time it ran in 1984, the initiative was named Miracle on 42nd street. In that first year alone, Timothy Miller and his fellow investment advisors raised $163,935.00! Every year, the amount donated back into the community throughout the 28 years Miracle Day has been happening. The best part about all of this is that the spirit of Miracle day remains the same today as it always has been. The goal is to “invest in the lives of children to help prepare them for the future and to make sure that tomorrow’s citizens are backed by a strong portfolio of skills and support. It’s a tall order to fill, but they’ve been doing it year after year for the last 28 years.
How To Get Involved
The best way to get involved is to invest with CIBC on Miracle day and all of the commissions and fees charged will be donated. Also Tweet about the cause with hashtag #CIBCMiracleDay. Click here to learn more about how to get involved.