RBC Corporate Responsibility Report and Public Accountability Statement

Alan Greenspan, U.S. Federal Reserve Chairman, refers to education as a “capital investment,” because education feeds innovation, and innovation lies at the heart of a nation’s competitive and economic success. At RBC Financial Group, we believe this is true.

Giving to learn
RBC supports lifelong learning through a range of initiatives, including an investment of more than $132 million in employee training and career development in 2003. Over one-quarter of the annual budget of the RBC Foundation is also devoted to education, almost $9 million in 2003, including major gifts to colleges and universities.

But we’re extending our support to younger students too. In 2003, for example, the RBC Foundation supported TVOntario’s Ask a Teacher Web site, a resource that not only provides practice questions and tests in math, science and literacy, but even provides real-time access to teachers who provide one-on-one homework help.

As part of ensuring that youth have the skills and knowledge for a prosperous future, RBC also supported Actua’s National Bursary Program with a $75,000 donation. Actua is a network of 28 organizations that promote scientific and technical literacy among young Canadians.

A global reach
RBC has been involved with Career Edge since 1996, providing internship opportunities for young people both within RBC, and with small businesses and not-for-profit organizations through our Associate Host program. Since 2001, Career Edge has gone global with a new internship program: TakingITGlobal (TIG), an organization that uses technology to engage a wide network of young people around the world. TIG links over 25,000 young people in over 230 countries and territories, with a million hits to its Web site (takingitglobal.org) every day.

The internship program at TIG is built on the common mission of the three partners – RBC, TIG and Career Edge – to support young Canadians in achieving their goals and finding meaningful careers that give back to their local communities and strengthen the global community.

RBC has sponsored a total of 16 interns in Canada through TIG.

Role models
Education is a key focus area for RBC employees around the world, especially for those employees who have children of their own and those who have seen the difference a mentor can make in the life of a child. Each Monday after school, 20 students from Anwatin Middle School in Minneapolis, travel downtown for an hour of one-on-one math tutoring with an RBC Dain Rauscher employee. Studies have shown that students who participate in this type of 10-week program vastly increase their chances of passing the Minnesota Basic Standards Tests.

RBC Dain Rauscher also supported youth and education initiatives in 2003 with grants, such as $10,000 to a diversity program offered by the Boys and Girls Club in Milwaukee, Wisconsin, and $4,500 to the Career Launch program in Bellingham, Washington. Support goes beyond the financial; for example, RBC’s Steve Alvord devotes one to two hours a week to help coach football, basketball or baseball, depending on the season.

Top after-school programs offer “3 Ss”

RBC Financial Group provided $1.3 million to 47 of Canada’s top community-based after-school programs for the 2003–04 school year.
     “RBC’s after-school grants are considered a ‘seal of approval’ among Canada’s after-school program providers,” says Rob Bray of Calgary’s Catholic Immigration Society, an RBC grant recipient for two years. “The high bar they have set when it comes to evaluation, tracking and information-sharing has helped staff and volunteers improve the quality of after-school programs across Canada, and has helped us secure additional funding.”
     To be chosen for a grant, recipients must offer structured, supervised activities in an environment that provides what RBC has termed the “3 Ss”: safety, social skills and self-esteem. RBC grant recipients all provide activities such as computer instruction, sports, literacy tutoring, music and art lessons, nutrition guidance, and homework-help.
     RBC’s after-school grants program has provided $7 million in funding to community groups since 1999.

Children at this Calgary after-school program were entranced by a visit from members of The National Ballet of Canada, who were touring Western Canada as part of the RBC Investments Arts Enrichment Program. Children from ages 6–14 took part in movement and dance workshops led by members of The National Ballet.
IMAGE: Mike Sturk

A skill for life
Think your children know enough about budgeting and money management? Many parents would like their children to know more. That’s why RBC Royal Bank introduced the Financial Lifeskills Seminars, a free seminar kit designed to help teachers provide students with clear direction on the path to financial literacy. In 2002, the program was targeted to students in grades 10 to 12, and was expanded to include an intermediate program for grades seven to nine in 2003.

To encourage these students to make informed decisions concerning their future educational and career plans, we also launched the RBC Royal Bank Financial Lifeskills Scholarship Award. In 2003, the inaugural awards were given to 10 Canadian high school students. Each received $2,003 to use for tuition, books or any other school-related expense.

Ten more scholarships will be awarded for the 2004–05 school year.

Seminar materials are available free of charge to educators by calling 1-866-363-1722. Information about seminars and scholarships can also be found at rbcroyalbank.com/lifeskills.

Real life insurance help
RBC Insurance is committed to helping consumers make informed decisions. Key initiatives that support this goal include the sponsorship of Real Life Money, a half-hour consumer financial show, which aired on TV across Canada during the summer of 2003 and profiled real Canadians with real financial problems and concerns. A panel of insurance, banking and investment experts offered advice and suggestions on how participants could improve their financial situations.

Tips for parents and students
RBC Royal Bank and RBC Centura have been offering student-banking products and solutions for years, and during that time, we’ve learned a great deal about post-secondary education. Parents and students can find a wide range of tips and information on our Web sites, from how to finance a post-secondary education to choosing the right college or university. There is even information for adults who are planning to return to school, to help them manage the challenges of family and career.

For more information, visit rbcroyalbank.com or rbccentura.com

A new take on the university experience
Attending university can have an enormous impact on a person’s quality of life, by helping strengthen a student’s life skills, social skills and employability. It can be the experience of a lifetime – and that experience is now open to adults with intellectual disabilities, thanks to a program offered by the University of Prince Edward Island.

Adult Connections in Education (ACE) is a unique program where adults with intellectual disabilities can attend classes at the University for 28 to 30 hours a week. Classes are designed to reflect their individual needs, interests and abilities, and students participate in class discussions, complete assignments and write exams and term papers like other students during the fall/winter and spring semesters.

Once the spring semester wraps up, students are then placed at an employment position of interest to them. Job placements are facilitated by ACE staff and are a requirement of the program.

In 2003, the RBC Foundation donated $150,000 over five years to ACE.

Teachers honoured

Kimberly Tai, Shuang Wen School in New York City

Teachers who develop their own potential are better able to inspire their students. That’s the reason RBC Capital Markets made a $100,000 donation to Fund for Teachers, a charitable organization in the U.S. that lets teachers take summer sabbatical trips to build on their knowledge. To qualify for a grant, teachers must propose a summer activity and explain how the activity will make them a better teacher. Those selected receive up to $5,000.
RBC also celebrates the profession of teaching in Canada, by supporting the annual Prime Minister’s Awards for Teaching Excellence with donations of more than $285,000 since 1998. In 2003, 16 top educators received the award, which recognizes the efforts of outstanding teachers in all disciplines across Canada who demonstrate commitment, leadership and exemplary teaching practices.

Kimberly Tai teaches grade four at the Shuang Wen School in New York City. She is one of 20 American teachers who benefited from a donation from RBC Capital Markets that allowed them to work and study during a summer sabbatical. Kimberly spent a month teaching English to children in Thailand.
IMAGE: Dan Nelken

An investment in young people and education is one of the best investments a company can make to ensure the future prosperity of our communities.

Forty years – and counting – with 4-H
What better way for young people to exchange ideas and learn about their country than by visiting other parts of Canada? That’s why RBC has renewed our support for the 4-H Interprovincial Exchange program – a relationship that’s marking its 40th anniversary.

RBC announced a $250,000 commitment over five years to support the program, which provides youth with travel opportunities to other Canadian provinces.

“The RBC Royal Bank 4-H Interprovincial Exchange has been a highlight in the life of thousands of 4-H members since 1963,” says Mary-Ann Carson, president of the Canadian 4-H Council. “We are excited about the renewal of the program, especially during the 90th anniversary of 4-H in Canada.”

Food to learn on
RBC employees know that breakfast is the most important meal – especially for school kids, who need the right fuel to get through the day.

That’s why employees in the Kitchener-Waterloo and Guelph regions of Ontario give their time to contribute to Breakfast for Learning. More than 60 schools and 15,000 children take part in the program, which provides nutritious breakfasts and snacks. RBC has contributed to Breakfast for Learning for six years.

In addition to donating their time before classes start, employees have also organized and taken part in fundraisers such as golf tournaments and silent auctions. As a result, Breakfast for Learning received well over $50,000 from RBC and employees in 2003.

Typical of employees elsewhere who also believe in the importance of breakfast, a group in Portage la Prairie, Manitoba, visits schools twice a week to serve breakfast as part of the North Memorial School Breakfast Program.

Bahamas support
The largest share of RBC’s donations in the Bahamas – as elsewhere – is earmarked for education. In 2003, RBC once again supported the College Financial Aid Fund, a two-year program that provides grants to support students at three colleges.

“This is a very positive program for students in financial need,” says Dr. Brenda Cleare, principal of the Bahamas Baptist College, one of the three participating schools. The grants are of particular help to students from the Family Islands who must pay housing costs in addition to tuition fees. RBC also supports the Lyford Cay Foundation, which provides scholarships for Bahamian students attending college in Canada and the United States.

For more information on how RBC supports education, visit rbc.com/community

A partner in learning

Once a week, Christy Langley meets with a young student at a local family resource centre to work on such activities as reading stories, learning numbers and playing developmental games.
“It is such a joy to go to tutor each week,” says Langley, one of 50 RBC Centura employees in the Nash/Rocky Mount area of North Carolina who volunteer to mentor a student through Communities in Schools (CIS). The largest stay-in-school network in the United States, CIS matches up community resources with schools to help young people successfully learn, stay in school and prepare for life.
RBC Centura provides a US$3,000 sponsorship so that one CIS student can receive extra classes, counselling to prevent drug and alcohol abuse, and referrals for health and social issues. In addition, RBC Centura provides a US$15,000 sponsorship to support the overall program in public schools.

Christy Langley is one of 50 RBC Centura employees who spend time mentoring young students with the Communities in Schools program, helping students such as four-year-old Nadir Thompson. Weekly one-on-one tutoring sessions are available for students in pre-school through to high school.
IMAGE: Ronald L. Sowers Photography