This content was created by Xtra’s branded content team alongside BMO, separate from Xtra’s editorial staff.
It turns out there is a pot of gold waiting at the end of each rainbow—you just need to take a picture of it and deposit that image to make it a reality.
For the third year in a row, BMO is encouraging people across North America to photograph the rainbows they see all around them during summer Pride celebrations and “deposit” those images to help raise money for Rainbow Railroad, an organization that helps at-risk 2SLGBTQ+ individuals escape state-sponsored violence around the world.
Known as BMO Rainbow Deposits, the campaign works by snapping a pic of any rainbows you see, and, in the same way you deposit a cheque using your phone, you can deposit colourful rainbow photos to BMORainbowDeposits.com. For every rainbow deposited to the site, the financial institution will donate $1 to Rainbow Railroad, up to $50,000 CAD.
John McNain, Chief Operating Officer of North American Personal and Business Banking at BMO, said that since Rainbow Deposits was launched, $100,000 has been donated to Rainbow Railroad, with another $50,000 to be donated at the end of this year’s campaign that runs until August 31, 2024.
“Three years ago, we talked at BMO about all the rainbows surrounding us during Pride month and thought, ‘What if we could turn these into real, life-changing support for the 2SLGBTQ+ community?” said McNain. “At BMO, we are committed to diversity and inclusion because we believe these values make us stronger. Supporting the 2SLGBTQ+ community is a big part of this commitment.”
On BMORainbowDeposits.com, you will find previously “deposited” images of pride flags, dogs dressed in rainbow-coloured onesies, rainbow painted sidewalks, decals stuck to telephone poles and even natural rainbows arcing through the sky. And—most importantly—you can see the smiling faces of people who, by depositing their rainbow photos, know they are helping to improve the lives of 2SLGBTQ+ individuals around the world.
McNain said BMO wanted to partner with Rainbow Railroad because both organizations share similar missions of breaking down the barriers individuals face and creating a more inclusive and just society.
“While there has been tremendous progress for 2SLGBTQ+ rights around the world, there are still many countries that prosecute based on individuals’ sexual orientation, gender identity or sex characteristics,” McNain said.
“Since 2006, Rainbow Railroad has assisted more than 13,000 individuals through relocation, crisis response, financial aid, and other various forms of assistance. There’s still tremendous work to do in fighting for 2SLGBTQ+ rights worldwide, and BMO is proud to support Rainbow Railroad’s work through our Rainbow Deposits campaign.”
Rainbow Deposits represents only part of BMO’s commitment to the 2SLGBTQ+ community, said McNain. Along with sponsoring Pride-related events across Canada—including the Pride and Remembrance Run in Toronto for more than 28 years and the Calgary Stampede’s Pride Day—BMO was the first bank to launch Mastercard’s True Name cards, where trans and non-binary individuals can personalize their name on their banking cards to reflect the name they most identify with.
As well, he said, BMO has exceeded its goal of advancing 2SLGBTQ+ representation in its workforce two years ahead of schedule—which was set out in its Zero Barriers to Inclusion strategy—and continues to educate all its employees so they can better serve its clients in the queer community.
“BMO’s commitment to inclusion and equity focuses on providing access to opportunities and enabling growth both inside and outside our doors, especially to groups that have historically faced systemic barriers, including the 2SLGBTQ+ community,” McNain said. “In today’s world of escalating discrimination and restrictive laws against the 2SLGBTQ+ community, we want members of the community and their allies to know that BMO supports them year-round.”
To deposit your own rainbow photos in support of Rainbow Railroad and to learn more about how BMO supports the 2SLGBTQ+ community year-round, visit BMORainbowDeposits.com. To learn more about the work Rainbow Railroad is doing to support at-risk LGBTQI+ individuals, visit RainbowRailroad.org
Why you can trust Xtra