CIBC is launching a Student Health package that enables new post-secondary students to apply for three banking products through one digital tool.
TORONTO, Aug 6 2024 /CNW/ – A new survey conducted by the Student Life Network on behalf of CIBC finds that the majority (95 percent) of students interviewed say managing their finances is important to contributing to their student life. total, but only about two-thirds (63 percent). ) of those interviewed said they use mental math to manage their finances. At the same time, less than half of those interviewed (44 percent) expressed confidence in their level of financial literacy as they navigate through their post-secondary education, which is often comes with more financial freedom and responsibility.
“Starting your academic career comes with mixed feelings, including the potential for stress related to managing your finances,” it says. Michael Clabby, Executive Vice President, Head of Digital, Data and Strategy, CIBC. “Students are looking for digital solutions to help them build their financial independence to prepare for life after school.”
Launching CIBC’s Best Student Life
To help help students succeed as they begin their academic careers, CIBC has launched the CIBC Best Student Life Bundle, a first-in-the-market, exclusive digital gift for new CIBC international and Canadian customers who allow them to apply. essential student banking products and services in one application in less than 15 minutes.
The CIBC Best Student Life Bundle allows eligible students to apply for a Smart Start or Smart for Student checking account that helps them manage day-to-day expenses, an eAdvantage Savings account to start a savings habit money aside, and their choice. of student credit cards to help build credit history. Students attending CIBC receive additional funding $50 bonus when they apply online at CIBC.com and earn up to $250 money they can use for other expenses, and to do more things they enjoy to make the most of their student life.
Student expenses are unique
“Our survey found that many students rely on mental calculations to manage their expenses, and only 29% show confidence in their financial situation. In such a time of change with new expenses and unexpected, it is very important for students to be aware of the financial resources available to them that will help them to build confidence, have a whole life of finances and contribute to the balance of their lives. work,” added Clabby. “Financial resources and working with a mentor can help make their educational aspirations a reality and prepare them for success after graduation as they set new goals.”
When it comes to spending money, nearly a quarter of students say technology (24 percent) and entertainment (24 percent) are their biggest problems at school. Travel is a future aspiration for many (56 percent).
To help students with their everyday purchases, and save money for school essentials, CIBC announced today that it has renewed its exclusive partnership with the Student Purchase Card (SPC), of Canada the most popular student discount program. CIBC juniors and students are eligible for a free SPC+ membership that offers 450+ discounts on top brands, and saves students a total of $340 every year.
More support for students
CIBC has several products, resources and partnerships designed to support students pursuing post-secondary education, including:
Survey Poll Disclaimer:
The findings presented are based on a survey conducted by the Student Life Network from June 28th until July 15th, 2024. The survey sample consisted of 1,314 Canadians aged 14 and over, who completed an online questionnaire for a chance to win. $500. Participants came from the Student Life Network community, which includes more than 2 million Canadian students. Although a stratified sample of this size would have a margin of error of ±2.6%, 19 times out of 20, this study was not stratified and the sample was not weighted, so it may not I am representing people in general. Therefore, it is not possible to place a margin of error on these findings.
About CIBC
CIBC is a leading North American financial institution with 14 million personal banking, corporate, public sector and institutional clients. Across Personal and Commercial Banking, Corporate Banking and Wealth Management, and Markets Businesses and Direct Financial Services, CIBC provides a variety of advice, solutions and services through its leading network. before digital banking, and across regions. Canadato United States and around the world. Current news and other information about CIBC can be found at www.cibc.com/ca/media-centre.
SOURCE CIBC
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