How a newcomer made her Canadian dreams come true

It felt scary at first. I didn’t know what life would look like in Canada, but I was determined to make it work.

One of the first things I did when we arrived was open a bank account with CIBC. Shiella, an advisor at CIBC, helped me apply for a credit card, taught me about the importance of building a credit history and supported me as I learned to navigate the Canadian banking system.

In some ways, things were easier here, like the way people use their phones or tap to pay for things. It was so efficient and streamlined. I wasn’t used to that. Banking in the Philippines is more difficult.

At one point, I had an issue with my credit card and was so surprised to proactively get a call from the bank to ask me about a fraudulent charge from abroad. I wouldn’t have expected that from my bank back home — there, everything is your responsibility.

I’d been expecting to wait a long time to get my Canadian permanent residency, but to my surprise, I received it within my first year in Canada. I needed to go to the Philippines and bring my children back with me to Canada, but because the process happened so quickly, I hadn’t saved enough money to pay for flights and the cost of the trip. Although I had a credit card, my credit limit wasn't high enough to cover the costs either. So I reached out to Shiella from CIBC for advice.

“I’ve been in her shoes,” says Shiella. “Like her, I came to Canada to have a better life for me and my family. I understood her dreams and I wanted to help.” 

Lore came to Shiella looking for a way to cover the costs involved in bringing her kids to Canada, but with little savings and a credit card with a low limit, she wasn’t sure about her options.

“Lore had been working hard on building up her credit since she arrived in Canada,” explains Shiella, “so I advised her to cover her upcoming costs by opening a CIBC Personal Line of Credit. Especially for new immigrants to Canada, having access to a line of credit is a good way to plan for emergencies even if you don’t need it.”

Thanks to CIBC’s advice for a personal line of credit, Lore was able to cover the costs of her trip. Not only that, but she can also access funds as needed for the future as she and her family continue to establish their life in Canada. The interest rate is lower than most credit cards and she only needs to pay interest on what she borrows.

I’m so grateful for the help Shiella and the team at CIBC have provided me and my family with from the very beginning. Shiella has been my partner throughout the banking process. She has listened to my struggles, offered solutions and helped us make the right choices to help make our dreams come true here in Canada. She has been like a second mother. 

Today, my family is finally reunited and we’re working hard on our goals for the future. I’m so happy to be living in Canada. 

I’ve found Canadian people to be considerate and supportive. I often wonder how I can repay everyone for their kindness.

My financial life here is much easier, too, and thanks to CIBC and Shiella, I feel like my Canadian dream has come true.

Transcript for the video CIBC Ambition Stories: Lore’s family reunites in Canada. Opens a new window.

• Build your credit history – Credit history is your track record of borrowing and repaying money, represented by a credit score — a number that represents your ability to pay off debt. Banks, cell phone providers, landlords and others look at your credit score to determine whether you’ll be able to make regular payments. Banks also use this number as a tool to decide if you qualify for a loan or a mortgage and what interest rate to charge for repayment. You can build your credit history by opening a bank account and applying for a credit card. Pay your credit balance in full each month and avoid taking on too much debt.
• Open a line of credit – Once you’ve built a good credit history, consider applying for a personal line of credit. It gives you a flexible, low-cost way to borrow money and can be a lifeline in emergencies. Use as much or as little as you need, and only pay interest on the amount you borrow.
• Protect yourself against fraud – Unfortunately, immigration scams targeting newcomers are not uncommon. Be vigilant and cautious when you’re dealing with individuals or organizations promising guaranteed results or offering assistance for a fee. Always verify the legitimacy of immigration consultants or representatives by checking their credentials and only trust reputable sources of information.