Canadian Credit Management Foundation Gives $1 Million to National Fellowships

30 March 1998

For Immediate Release

Toronto -- The Canadian Credit Management Foundation (CCMF) has committed $1 million to support MBA and PhD fellowships at the University of Toronto's Rotman School of Mangement.  The gift will be matched by the University and the Government of Ontario through the Ontario Student Opportunity Trust Fund to create a $3 million endowed fund for student aid.

The CCMF National Fellowship will attract top business students in financial need.  The payout from the endowment will provide tuition and other support for six PhD and six MBA students annually, furthering business research and education in Canada.  

"The Rotman School plays a critical role in training a new generation of Canadian leaders," said CCMF President Marcel Desautels.  "In today's challenging times, it's more important than ever for those in the private sector to join with the university to help these talented students succeed.  It's an investment in the future of all Canadians."  

The Rotman School of Management is one of Canada's leading business schools and a major producer of business research in the country.  

The Canadian Credit Management Foundation is a charitable foundation formed from the dissolution of the Creditel of Canada Limited (a business credit information services firm serving the financial industry).  "The former members of Creditel are mostly credit managers and financial officers," said Mr. Desautels.  "They are gratified that the Foundation established in their name is able to support this important initiative."