RBC Corporate Responsibility Report and Public Accountability Statement

RBC is committed to earning the trust and business of Canada’s Aboriginal Peoples by providing innovative products and services that are relevant to their needs, and supporting programs that enhance economic and community well-being, including donations of $300,000 in support of Aboriginal community initiatives in 2003.

Financial services and support
RBC has a long history of strong relationships with Aboriginal communities, built by providing flexible solutions that reflect their unique and diverse needs for financial services, treating clients as they want to be treated, and supporting community growth.

RBC was one of the first banks to open a full-service branch in a First Nation community. There are now seven full-service branches in addition to three RBC agency outlets staffed by First Nations people, utilizing RBC technology, support and training. RBC also has one branch in each of the three regions of Nunavut. RBC is the only major financial institution to have established a national First Nations’ Advisory Service for Aboriginal communities to assist them in managing investments, trusts and land claim settlements. Our specialized lending program allows First Nations members to purchase houses on-reserve, outside the Canada Mortgage and Housing Corporation (CMHC) program and without Ministerial guarantees.

More than half of the Aboriginal population in Canada lives in urban centres. To support their unique needs, RBC provides a broad range of initiatives in partnership with the National Association of Friendship Centres, representing more than 120 centres across the country, which are the hub of the urban Aboriginal population. We regularly sponsor urban initiatives that increase economic opportunities, including the Aboriginal Peoples Television Network’s Venturing Forth series, the Council for the Advancement of Native Development Officers (CANDO), First Peoples Business Association in Quebec and the Aboriginal Financial Officers’ Association.

For more information, visit rbcroyalbank.com/aboriginal

Founding sponsor of CESO
RBC is a founding sponsor of the Canadian Executive Service Organization’s (CESO) national MBA project that matches teams of graduate students in a number of universities across Canada with Aboriginal communities to work on specific economic development projects.

These projects not only provide economic benefits, but also build bridges of respect and understanding on Aboriginal issues with the MBA students and others involved in the projects.

There were six projects underway over the past year, including feasibility studies and marketing plans for a variety of businesses and projects. RBC provides $50,000 to CESO’s Aboriginal Services program to make MBA teams and CEO volunteer advisors more accessible to communities and enterprises by covering out-of-pocket expenses.

Support for youth

Recognizing that more than half of the Aboriginal population in Canada is under the age of 25, RBC invests in a variety of youth programs.
    In 2003, five young Canadians were recognized through our Aboriginal Student Awards Program, which has awarded 54 scholarships totalling $486,000 since its inception nine years ago.
    For the past 10 years, RBC‘s national Aboriginal Stay in School Program has supported educational activities and career opportunities and provides summer employment for youth, many of whom have permanently joined RBC.
    For the past eight years, we’ve partnered with the National Aboriginal Achievement Foundation to co-sponsor the Blueprint for the Future career fairs across the country, and we have sponsored a number of suicide prevention programs.

Nunavut students Charlotte Lyle and Elijah Aitoak work on reading skills at the Cambridge Bay Childcare Society, one of 47 not-for-profit groups across Canada who received after-school grants from RBC in 2003.
IMAGE: Dennis Oberg