BMO wants to make rainbows more meaningful for Pride
The bank is inviting people to turn all the flags and colourful logos they'll see this month into tangible donations.
BMO is putting out a call for Rainbow Deposit donations, part of its latest effort to drive tangible results during Pride.
Similar to taking a picture of a cheque, BMO’s “Rainbow Deposits” enable users to “deposit” a rainbow they see this month. BMO donating $1 for every rainbow deposited – whether the pictures are taken from nature, captured on flags or even on the logos of other brands – up to $50,000.
Funds will be going to Rainbow Railroad, a non-profit committed to helping persecuted members of the 2SLGBTQ+ community. Uploaded to a dedicated desktop and mobile website, “deposits” are being welcomed regardless of where someone does their banking.
It’s a move meant to stand out in a swath of branded rainbows that will be seen as Pride Month gets underway, what critics have referred to as “rainbow-washing,” with words of support but no meaningful actions.
Jeremiah McNama, ECD at FCB Canada – the agency behind the campaign – acknowledges that “rainbows are everywhere over Pride,” but that this effort is lending them specific purpose.
Catherine Roche, CMO at BMO, agrees, saying it represents a visible and engaging way of standing with the 2SLGBTQ+ community, enabling Pride supporters to turn any rainbow into the change they want to see.
The “Rainbow Deposits” campaign, part of the bank’s “growing the good” CSR efforts, is geared around a mission to create “Zero Barriers to Inclusion” and supporting equity, equality and inclusion, whether it’s Indigenous people getting access to banking, female entrepreneurship or supporting 2SLGBTQ+ communities.
“Rainbow Deposits” is being supported with a fully integrated North American campaign by agency partner FCB Canada, with a focus on key markets in Vancouver, Toronto, Montreal and Chicago.
The campaign includes online video and social, supported by OOH, branch wraps and decals and a partnership with local small businesses.
BMO is also partnering with drag queens and 2SLGBTQ+ influencers to create online content to spread awareness and participation.
“Rainbow Deposits,” the institution says, is the latest in BMO’s longstanding commitment to the 2SLGBTQ+ community, which includes more than two decades of Pride sponsorship.
BMO is also the presenting sponsor of the Pride and Remembrance Run, an annual 5K fundraising run/walk in support of LGBTQ+ charities in the GTA.
It also recently became the first Canadian financial institution to offer Mastercard’s True Name feature, which lets transgender and non-binary people display their chosen name on their card.
UM Canada is the media agency, with Reprise Canada handling influencer relations.