The Canadian Medical Association (CMA) has strengthened its relationship with its student members through a collaborative partnership between financial management subsidiary MD Financial Management (MD) and the Canadian Federation of Medical Students (CFMS) — with MD now the federation’s exclusive partner for financial services.
“This is definitely a win-win for both organizations,” said CMA President Chris Simpson. The CFMS at its spring General Assembly in Vancouver approved the new partnership.
"We are pleased to be working together with the CFMS to provide even better support to Canadian medical students," said Mike Gassewitz, MD's executive vice-president of Member Solutions.
"As a CMA company, we are dedicated to meeting physicians' financial needs throughout their lives and careers, and this starts in medical school. This partnership will enable us to help more medical students take the worry out of their finances and start their careers on the best possible financial footing, leaving them able to focus on their studies."
Simpson said: “The partnership demonstrates the strong commitment by CMA to support medical students in all facets of their life and work. It shows that CMA, through MD, will help ensure students succeed as they begin their careers, whether it is providing advice on debt management, paying for medical school or preparing for residency and practice.”
"We're very excited to be entering into this partnership with MD," said Bryce Durafourt, CFMS president. "Students will benefit from an improved level of support from CFMS and MD through a wide range of information, events and services that have been specifically created with them in mind."
Medical student members have access to MD's specialized network of advisors, who can address the financial needs and goals of medical students including advice about how to finance medical education while minimizing debt. Student and resident members can also take advantage of a special line of credit.
The partnership is just one element of the CMA’s renewed drive to support its medical student members, also demonstrated by making new clinical tools available to them and providing students with more opportunity to participate in the association’s decision-making processes.