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KAMLOOPS, BC, Nov. 22, 2024 /CNW/ - At a signing ceremony in the unceded and traditional Tk'emlúps te Secwépemc territory, BMO and All Nations Trust Company (ANTCO) today announced a groundbreaking partnership to provide Indigenous clients in British Columbia with greater access to capital.
Indigenous entrepreneurs and communities in B.C. supported by ANTCO and BMO will now have access to grants, business loans and capital resources through ANTCO, as well as increased capital limits and financial products, such as bank accounts, credit cards and lines of credit, through BMO. This partnership will support clients in ANTCO's service area of 121 Indigenous communities in B.C. and, together, both financial institutions will have greater market presence in the province.
"As a proud member of the All Nations Trust Company family for over 20 years, I am grateful to the BMO and ANTCO teams for their hard work and commitment to this joint effort. This partnership marks an important milestone towards our Vision – Self-reliant Indigenous people thriving in diverse economies – and supports our Mission to facilitate Indigenous self-sufficiency through the provision of financial and business services," said Tim Low, Board President, ANTCO. "At ANTCO we are very proud of the service we have been able to provide to our customers over the years and this partnership will greatly enhance our ability to provide the kinds of products and support our customers are looking for."
"All Nations Trust Company has been supporting and facilitating Indigenous entrepreneurs and communities since 1984, providing financial and business advisory services to hundreds of businesses in its market area and beyond. This partnership aligns with our mission to empower Indigenous communities and entrepreneurs by creating economic opportunities and fostering financial independence," said Pat Fosbery, CEO ANTCO.
With a combined 75 years of experience serving Indigenous communities and clients, the collaboration between ANTCO and BMO enhances each financial institution's ability to support Indigenous entrepreneurs and businesses with the capital and resources they need to thrive.
"BMO's Purpose, to Boldly Grow the Good in business and life, drives us to explore and support new opportunities that benefit Indigenous customers and communities. We are proud to partner with ANTCO, a 100% Indigenous-owned financial institution, to bring greater access to capital to Indigenous entrepreneurs and communities in British Columbia," said Michael Bonner, Head, Canadian Personal & Business Banking Distribution and Head, Enterprise Indigenous Strategy, BMO. "This partnership is a strong example of our commitment to fostering economic empowerment by eliminating barriers to capital and driving progress for a thriving economy, a sustainable future and an inclusive society."
"For more than thirty years, BMO's Indigenous Banking Unit has worked closely with Indigenous communities across Canada to advance economic self-determination by partnering with customers as they shape their futures," said Clio Straram, Head, BMO Indigenous Banking Unit. "We're excited to collaborate with ANTCO's more than 40 years of expertise to help grow Indigenous entrepreneurship, economic development, and better serve Indigenous clients in B.C."
Learn more about BMO's commitments to Indigenous customers, colleagues and communities.
About ANTCOAll Nations Trust Company is a 100% Indigenous-owned financial institution that has served British Columbia since 1984. With over 220 shareholders—including First Nations, Métis Associations, and Indigenous individuals—ANTCO supports Indigenous entrepreneurs and communities with tailored financial solutions. By combining experience, capital, and exclusive access to grants and non-repayable loans, we empower clients to start or grow businesses, attract economic development, and develop lands. As a provincially regulated institution, we also provide Trust, Agent, and administrative services, ensuring the highest standards of governance and reliability.
To learn more visit www.antco.ca
About BMO Indigenous BankingBMO Indigenous Banking provides more than $14 billion in banking services to over 300 Indigenous communities nationwide. BMO offers Indigenous-specific banking products and services in Retail Banking, Business Banking and Commercial Banking, as well as tailored services in Global Asset Management, Trust, Wealth and Capital Markets. BMO also supports Indigenous people, communities and businesses through procurement, donations, and financial education, including education for employees and the public on Indigenous history and perspectives. For advancing Indigenous interests and economic development, BMO has received Gold certification in the Partnership Accreditation in Indigenous Relations (PAIR) program seven consecutive times, spanning over 20 continuous years. The PAIR program is administered by the Canadian Council for Indigenous Business.
About BMO Financial GroupBMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.4 trillion as of July 31, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.
SOURCE BMO Financial Group