2013 National Credit Union
Award for Community Economic Development
Resilient Capital Program
Helping individuals, enterprises and communities thrive... and to think
differently about wealth is Vancity Credit Union’s (Vancity) mission and the
Resilient Capital program is one way to achieve them all!
in 2011 in partnership between Vancity and the Vancouver Foundation, the
Resilient Capital Program offers depositors the opportunity to make a
guaranteed fixed return on their money while backing social enterprises with
high growth potential. This successful program has attracted more than 20
institutional and individual depositors who collectively have contributed
over $13.5 million in Resilient Capital Term Deposits, including a $3.5
million loan loss reserve provided by the two partners. Vancity was able to
leverage its $1.75M investment to create this fund that is expected to reach
$15M by summer, 2013.
Resilient Capital Program offers:
investments and loans in highly impactful social enterprises;
by CUDIC insured term deposits offered by Vancity; and
by loan loss reserve (Vancity and Vancouver Foundation dollars)
Resilient Capital has invested more than $3.5 million in over ten social
enterprises focused on addressing social and environmental challenges and
building more resilient communities. The number and diversity of community
partnerships supported and spawned by the program is no less impressive.
Capital depositors have exclusive access to the private depositor section of
resilientcapital.ca, a website that shares the
successes of enterprises in the Resilient Capital portfolio, highlights
their impact on communities, offers updates, news, stories and transaction
Capital is just the latest in Vancity's long history of programs focussed on
meeting the long-term needs of their members and their communities, and the
program wouldn't have been possible without the collaboration of the
Vancouver Foundation as a founding partner.
Since 1994, Vancity, Canada's largest credit union, has invested over $194
million of their profits back to members and into the communities they
serve. For providing capital to social enterprises and businesses that are
building stable communities and which offers unique support and on-going
encouragement to otherwise marginalized borrowers,
Vancity is the deserving the recipient of Credit Union
Central of Canada's 2013 Community Economic Development Award.