Canadian Western Bank helps combat youth homelessness in Vancouver

VANCOUVER, April 12, 2012 /CNW/ - Canadian Western Bank (CWB) is pleased to announce its commitment to invest $150,000 in the Streetohome Foundation's capital campaign aimed at breaking the cycle of homelessness in Vancouver. CWB's contribution will fund construction of a housing development at 1134 Burrard Street, which will provide housing for 141 youth and adults who are either homeless or at the risk of homelessness. The facility will also offer tenants training and support in the areas of household management, meal preparation, counseling, medical services, employment, financial management, literacy and community living.

"Canadian Western Bank recognizes the importance of supporting Canada's youth, and we believe in contributing to organizations that provide them with access to affordable housing, education, employment and training," says Greg Sprung, CWB's Senior Vice President and Regional General Manager - British Columbia. "We are proud to support the Streetohome Foundation's vision of creating social change that will help prevent homelessness and improve the quality of life in Vancouver."

"The generous donation that Canadian Western Bank has contributed will go a long way in helping to provide the type of housing and supports required by homeless and at risk youth," said Dick Vollet, President of Streetohome Foundation. "Youth are a particularly vulnerable group. Many young people leaving foster care are lacking in education, skills, and a safe place to live. This site will offer many of these young people access to resources that we often take for granted - the security of a safe and welcoming home and consistent support with practical life skills training."

Yesterday afternoon, the City of Vancouver and the Province of British Columbia broke ground at the site of the new development project, which is supported through Streetohome Foundation's capital campaign. The project is scheduled to be completed in July 2013.

About Canadian Western Bank
Canadian Western Bank offers highly personalized service through 40 branch locations and is the largest publicly traded Canadian bank headquartered in Western Canada. The Bank specializes in mid-market commercial lending and offers a full complement of personal banking services. The Bank, along with its operating affiliates, National Leasing Group Inc., Canadian Western Trust Company, Valiant Trust Company, Canadian Direct Insurance Incorporated, Adroit Investment Management Ltd. and Canadian Western Financial Ltd., collectively offer a diversified range of financial services across Canada and are together known as Canadian Western Bank Group. Refer to www.cwbankgroup.com for additional information.

Stakeholders can learn more about CWB Group's community initiatives by following the company on Twitter @CWBcommunity or by visiting its Facebook profile at www.facebook.com/CWBcommunity.

About Streetohome Foundation
Streetohome Foundation is a community organization working to ensure that all citizens of Vancouver have access to safe, decent, affordable, supportive housing. We bring together business, government, service providers and community leaders to build resources and develop lasting solutions to homelessness. Current initiatives include funding and facilitating housing for individuals who are chronically homeless, people who require housing with supports, and for mothers with children.

Angela Saveraux
Community Investment Manager
Canadian Western Bank
Phone: [phone]
Email: [email protected] 

Christina Panagio
Communications Manager
Streetohome Foundation
Phone: [phone]
Email: [email protected]