Integral North is excited to announce that it will be assisting Vancity Community Investment Bank (VCIB) to market it’s innovative Community Change Term Deposit in the Eastern Ontario region.  VCIB is wholly-owned by Vancity Credit Union, one of Canada’s largest credit unions and a national leader in sustainable financial services.  VCIB is a values-driven bank committed to working with progressive organizations and enterprises creating long-term change in our communities.  It delivers it’s mandate through four primary lines of business:

  1. Social Purpose Real Estate Lending – construction and term mortgages for organizations developing impactful community assets such as affordable housing, green buildings, and non-profit owned facilities.
  2. Business Lending – term and revolving business loans for social enterprises that need access to capital to grow.
  3. Corporate Credit Cards – a corporate Visa product to suit the needs of small to medium sized organizations.
  4. Foreign Exchange – FX services to support impactful organizations that have currency risk in their operations, for example the fair trade community.

The Community Change Term Deposit Program

  • 100% of VCIB’s Community Change Term Deposits contribute to community development lending in Canada.
  • By providing values-driven entrepreneurs and forward-thinking not-for-profits access to credit, your deposits can help build community assets and strengthen the social sector.
  • Our deposits can be a strong fit for organizational reserves, such as an operating or capital fund, and for endowment resources as part of a diversified investment portfolio.

Product Features

  • This GIC product offers a unique opportunity for organizations to earn competitive returns and contribute to positive impact in local communities
  • The Community Change GIC offers an ethically-screen bank term deposit that contributes exclusively to community development lending
  • Deposits are available in any term length between 30 days up to 5 years and are non-redeemable during the length of their term
  • Interest rates are competitively benchmarked against the market and fixed for the term of deposit,  at the time of the investment
  • Minimum investments of $100,000 per account
  • Interest is compounded and paid annually
  • CDIC – Insurance coverage is provided on all term deposits up to CDIC limits

Product Fit

The Community Change Term Deposit can be a strong fit for resources such as operating accounts and cash reserves and for long-term resources such as capital reserves.  With a persistent low-yield environment for fixed income investments, many institutions have chosen to move a potion of their fixed income allocation into term deposits to improve their portfolio performance.  The product is a good fit for those organizations that are looking for:

  • An opportunity to invest in alignment with your values within a secure, fixed income product.
  • To not be exposed to public market volatility, giving you greater principal security.
  • Competitive returns compared to the GICs offered by the large mainstream banks allowing you to support greater impact without needing to take any concessions on return.

Our Ask

  1. We are seeking new depositors to continue to grow our capacity to deliver positive community change throughout Ontario.  If you have existing GIC investments, please consider whether our offering could address your operational needs while putting your funds to more values-aligned activity in the community.
  2. If you have other cash management needs and would like to work with a values-aligned institution, please provide us feedback as we continue to develop and introduce new offerings for the market.
  3. It is always the best compliment to receive a referral. Please feel free to share this material or introduce me if there are other organizations for whom VCIB’s lending or deposit programs could resonate.

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