Fairstone Achieves Silver Parity Certification From Women in Governance: A Significant Milestone in Gender Equality

MONTREAL, March 6, 2024 /CNW/ - As we approach International Women's Day on March 8, Fairstone Bank of Canada and its wholly-owned subsidiary, Fairstone Financial Inc. (hereinafter collectively "Fairstone"), are proud to announce a significant milestone in their journey towards gender equality and diversity: the achievement of the Silver Parity Certification by Women in Governance in 2023. This prestigious recognition marks a pivotal moment for Fairstone, reflecting our continued commitment to fostering an inclusive and equitable workplace and the initiatives we put in place to accelerate gender parity.

Since our pledge in 2021 to enhance gender representation across all levels of management, Fairstone has made substantial progress. Today, Fairstone boasts parity at entry-level positions, with women constituting 63% of our workforce. Additionally, we have reached complete parity within our executive management committee, delivering on our commitment to enhance gender diversity in leadership positions.

Reflecting on our diversity journey, Fairstone's President and CEO, Scott Wood, expresses that, "Achieving Silver Parity Certification is a testament to Fairstone's continued commitment to not only gender equality but to fostering an environment of overarching diversity and inclusion. Moreover, it shows our dedication to empowering women and encapsulates all our efforts and initiatives in this area. A key example of our commitment is the launch of two new leadership development programs in 2023 that will help enhance female representation in management. With 56% of our leadership development program participants and 62.5% of mentors being women, we are not just aspiring for gender parity; we are living it. This not only reaffirms our dedication to empowering women but also emphasizes our broader commitment to diversity, reinforcing Fairstone's role as a leader in creating an inclusive workplace culture."

Cara Gulick, the 2023 Women in Leadership Award recipient, embodies the resilience and leadership Fairstone champions. From her roots in the Dakota First Nations to her role as Branch Manager in Thompson, Manitoba, Cara's journey serves as evidence to the power of diversity and the impact of supporting women's advancement, reflecting her myriad personal and professional experiences shaping her leadership style. Beyond her achievements, Cara is dedicated to mentorship, aiming to inspire and elevate those around her through shared experiences and lessons learned. "Each challenge and accomplishment has been a stepping stone, moulding me into a leader who values empathy and inclusivity," Cara states. Her commitment to being a guiding force for women is portrayed in her blog on Fairstone.ca, where she shares her insights and experiences, highlighting the importance of diverse perspectives in fostering a supportive and growth-oriented environment.

Fairstone is deeply invested in fostering an inclusive culture, underscored by other proactive initiatives such as the Women's Committee and the Women's Network, alongside our Canadian Women's Foundation sponsorship. These efforts aim to advance gender equality and diversity within and beyond our organization. The Women's Committee actively promotes equal opportunities and best practices for women's representation at all levels. Meanwhile, the Women's Network offers crucial development and networking opportunities, preparing women for leadership roles. In 2023, it introduced a series of enriching activities for Fairstone employees. Additionally, our partnership with the Canadian Women's Foundation, with a four-year, $80,000 commitment to their Economic Development Program, emphasizes our belief in the critical role of diversity and gender equality in enhancing organizational health and success. This collaboration supports efforts to uplift women, girls, and gender-diverse individuals out of poverty, reflecting our dedication to making a tangible difference in communities.

Our comprehensive Diversity, Equity, and Inclusion initiatives have been instrumental in Fairstone's recognition as one of Montreal's Top Employers in 2024 for the fourth consecutive year. On top of our commitment to excellence and competitive benefits, these programs, which aim to foster gender equality, diversity, and an inclusive environment, have significantly contributed to our standing as a top employer, reflecting our dedication to creating a workplace that values and supports all employees.

Fairstone Bank of Canada ("Fairstone Bank") and its subsidiary, Fairstone Financial Inc. ("Fairstone"), provide a wide range of innovative financial services that enable Canadian consumers and businesses to achieve their goals. Collectively, Fairstone Bank and its subsidiaries offer credit cards and rewards programs, point-of-sale financing, automobile financing and fully digital personal loans through partners, in addition to unsecured and secured personal loans and mortgages online and at over 250 branches coast to coast. With a long-established Canadian history, Fairstone Bank and Fairstone are committed to being Canada's most accessible and responsible consumer lending bank. More at: www.Fairstone.ca and www.FairstoneBank.ca.

SOURCE Fairstone Financial Inc.