KITCHENER -- A Waterloo company is turning 100 this year and it's giving back to celebrate.

Equitable Life started with two employees and a rented typewriter in Waterloo's core back in November of 1920.

"For 100 years, we’ve been protecting what matters most to Canadians,” President and CEO Ron Beettam is quoted in a news release.

"We’re proud of our past and all the accomplishments that have brought us here today, and we’re excited by the future as we begin the next century for Equitable Life of Canada.”

It's since grown to more than 700 across the country, and its headquarters is just 1.5 km from where it first started.

To celebrate, the company is giving $100 to seven people every Monday.

"We're having lots of fun rolling this out and it's literally every month of the year, something is going to be happening here at Equitable Life to celebrate," says director of corporate communications Keren Adderley.

"It's a significant milestone, a centennial for a business, and we are really proud."

The company is also partnering with five charities, which will each get $10,000.

Equitable also plans to make a legacy donation to an organization that helps strengthen Waterloo Region.