Blog: Posts http://www.cucentral.ca/cusr/Blog/Lists/Posts/AllPosts.aspx RSS feed for the Posts list. Fri, 24 May 2013 09:45:04 GMT Microsoft SharePoint Foundation RSS Generator 60 en-US Blog: Posts http://www.cucentral.ca/cusr/Blog/_layouts/images/siteIcon.png http://www.cucentral.ca/cusr/Blog/Lists/Posts/AllPosts.aspx OMISTA Credit Union launches new microfinance program http://www.cucentral.ca/cusr/Blog/Lists/Posts/ViewPost.aspx?ID=217 Body:

OMISTA Credit Union has launched a new microfinance program for New Brunswick immigrants to upgrade their foreign credentials.

This new program will offer loans of up to $15 000 to internationally trained professional immigrants with permanent resident status who may not otherwise qualify for a traditional loan to pay for the fees associated with upgrading their credentials as a result of having no credit history or no capital.

The program will work through a collaborative process between three partners. The New Brunswick Multicultural Council will review participant’s applications and decide whether or not to send them to a committee who will decide if they are eligible for the loan. OMISTA Credit Union will be able to offer the loan at an interest rate of prime plus one per cent as the federal government guarantees to provide insurance of up to 80 per cent on unpaid loans. 
 
For the full story, click here or here.
​

 

Category: Economic; Social; General
Published: 5/17/2013 3:13 PM
BlogItemVisibility: Public
]]> dominique biron-bordeleau Economic; Social; General Fri, 17 May 2013 19:12:46 GMT http://www.cucentral.ca/cusr/Blog/Lists/Posts/ViewPost.aspx?ID=217 Government releases social finance report http://www.cucentral.ca/cusr/Blog/Lists/Posts/ViewPost.aspx?ID=216 Body:

Earlier this week, Human Resources and Skills Development Canada (HRSDC) released its report - Harnessing the Power of Social Finance – containing the findings of the call for concepts that the department undertook in late 2012.   

Canadian Central responded to the call by submitting a brief that highlighted ways that credit unions contribute to social finance which the government could potentially want to build on. The HRSDC report refers to one of the concepts from Canadian Central’s submission – Vancity’s Resilient Capital Fund – as an example of the “changing social finance landscape across the country”.
 
The report also says that HRSDC received 154 submissions to the call for concepts.  Of these they have “chosen to profile 15 particularly compelling concepts.”  Among the 15 are social investment funds (citing Desjardins’ micro-credit programs as a model) social impact bonds, and support for social enterprises.
 
HRSDC says that its next steps in the short term will include bringing players together, “via policy tables and targeted outreach, to incentivise, leverage, and encourage new partnerships, connect investors with investees, and stimulate innovative ideas” and well as “work with partners, to create opportunities to sharpen some of the concepts presented here and develop ‘investment-ready’ pilot projects.”
​

 

Category: Economic; Environmental; General; Social
Published: 5/10/2013 2:50 PM
BlogItemVisibility: Public
]]> dominique biron-bordeleau Economic; Environmental; General; Social Fri, 10 May 2013 18:49:28 GMT http://www.cucentral.ca/cusr/Blog/Lists/Posts/ViewPost.aspx?ID=216