IMPACT GICs Contribute $4.3 million in Sustainable Investing through Canadian Credit Unions - June 2020
The Cash Management Group at Canaccord Genuity partnered with five credit unions to offer a first-of-its-kind GIC to institutional investors, municipalities, and post-secondary institutions.
IMPACT GICs fund lending activity that is subject to a series of positive and negative screens. All loans issued by the credit unions participating in the program support local businesses that pursue at least one of the United Nations’ Sustainable Development Goals (SDGs).
IMPACT GICs launched in November 2019 and the IMPACT GIC Report June 2020 has been released, highlighting $4.3 million in “SDG loans” through Sunshine Coast Credit Union and Kindred Credit Union that were invested in an impactful way.
June 2020 Report Highlights:
$2.3 million investment in IMPACT GICs
$4.3 million lent out in qualifying “SDG loans”
Featured loan stories met five of the United Nations’ SDGs:
Goal #5 – Gender Equality
Goal #10 – Reduced Inequalities
Goal # 11 – Sustainable Cities and Communities
Goal #12 – Responsible Consumption and Production
Goal #17 – Partnership for the Goals
Rhiza Capital, a certified B-Corp based out of British Columbia’s Sunshine Coast, serves as the program’s third-party consultant and is responsible for confirming loan activity.
IMPACT GICs were created in collaboration with credit unions across Canada as institutional investors were looking for a way to generate a positive impact and a competitive return. By aligning the values of investors with those of credit unions and their members, this program allows investors to contribute to their local community as part of a socially responsible investment strategy.
For more information on IMPACT GICs:
cgcashgroup.ca / socially-responsible-investing
Contact the Cash Management Group at Canaccord Genuity:
604.643.0101
Participating Credit Unions:
Third-Party Consultant:
