Press & Media

Canadian online brokerage contributes to communities impacted by COVID-19 pandemic

TORONTO, May 11, 2020 (GLOBE NEWSWIRE) -- Questrade (www.questrade.com) -- Canada’s leading online brokerage -- is donating 1 Million Meals to its long-standing charitable partner, Food Banks Canada to help its neighbours in need in communities across the country.

The current COVID-19 pandemic -- including the rise in company closures, layoffs and EI applications -- is having a trickle-down effect on food banks. Many are already reporting increased demand, both in calls from new client registrations to weekly households visits just weeks after the start of self-isolation measures.

In Canada, many of the over 3,000 food banks and community agencies that Food Banks Canada supports from coast-to-coast-to-coast report facing significant challenges as they provide the country’s most vulnerable with essential services. Many have seen drastic reductions in their food recovery efforts, as well as a significant drop in volunteers.

“This is what Canadians do at a time like this - we help our neighbours,” said Edward Kholodenko, president and CEO, Questrade. “We hope our contribution will help the most vulnerable fellow Canadians, who even before the COVID-19 crisis were making more than one million visits a month to food banks across the country. With one third of food bank users being children, there are countless families who need our help now more than ever to simply meet their basic daily needs. We are fortunate to be able to help.”

This time of year, the organization typically sees a decrease in donation volume, which combined with COVID pressures on food retailers, has put added pressure on food banks’ ability to obtain the essential staples for those most in need.

“Food Banks Canada is thankful for partners like Questrade, who have been there with us, both before and during this crisis,” said Chris Hatch, CEO, Food Banks Canada. “Questrade understood that there were people in Canada experiencing food insecurity far before the pandemic and they understand that the need is only growing now.”

Questrade is encouraging any Canadians who are able to help to consider making a financial donation at www.foodbankscanada.ca.

“We believe there is no more important investment, especially right now, than the one we make in one another,” added Mr. Kholodenko. “Given our mission to help improve the lives of Canadians, we wanted to make a significant contribution right now to help the growing number of Canadians in need.”

About Food Banks Canada

Food Banks Canada provides national leadership to relieve hunger today and prevent hunger tomorrow in collaboration with the food bank network from coast-to-coast-to-coast. For 40 years, food banks have been dedicated to helping Canadians living with food insecurity. Over 3,000 food banks and community agencies come together to serve its most vulnerable neighbours who – last year – made 1.1 million visits to these organizations in one month alone, according to the HungerCount report. Over the past 10 years, as a system we’ve sourced and shared over 1.4 billion pounds of food and Food Banks Canada shared nearly $70 million in funding to help maximize collective impact and strengthen local capacity – while advocating for reducing the need for food banks. Our vision is clear: create a Canada where no one goes hungry. Visit www.foodbankscanada.ca.

About Questrade

Questrade (www.questrade.com) is Canada’s fastest growing online brokerage that is changing the Canadian financial services industry by leveraging technology to lower fees while providing a viable alternative to traditional financial investment options, thereby allowing Canadians to Keep More of their Money. As a leader and innovator in financial services, Questrade is a trusted ally and advocate for consumers. With over 20 years of challenging the status quo as Canada's leading, non-bank online brokerage, over $12 billion in assets under administration and more than 50,000 Canadians opening accounts and joining the Questrade family each year, Questrade Financial Group provides a growing range of financial services which include online investing, wealth management and FX. Questrade has been named one of Canada’s Best Managed Companies for the eighth year in a row, achieving Platinum status. For more information visit www.questrade.com or follow on Facebook and Twitter @Questrade.

Questrade, Inc. is a registered investment dealer, a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF).

About Questrade Wealth Management, Inc.

Questrade Wealth Management Inc. ("QWM") provides professional investment management services through Questwealth Portfolios (www.questrade.com/questwealth-portfolios). QWM is an Exempt Market Dealer, Investment Fund Manager and Portfolio Manager. QWM is a wholly owned subsidiary of Questrade Financial Group Inc.

For more information, visuals, or to arrange an interview with Questrade president and CEO, Edward Kholodenko, contact Susan Willemsen or Ruth Colapinto at The Siren Group Inc.
Tel: 416-461-5270. Email: susan@thesirengroup.com or
ruth@thesirengroup.com.
Visit www.thesirengroup.com, or Twitter, Facebook and Instagram 
@thesirengroup.

To connect with Food Banks Canada CEO, Chris Hatch, please contact Sarah Soteroff at sarahsoteroff@sppublicrelations.com Tel: 416-838-0077.