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Helping Provide safe and affordable housing in Waterloo Region.
Start investing in Affordable Housing GICs or start your Affordable Housing Loan Pre-Screen today!
With Affordable Housing GICs you earn a guaranteed, competitive rate while helping to address the affordable housing crisis in Waterloo Region. This impact investment supports loans to providers of long-term, permanent affordable housing.
Affordable Housing Loans are available to not-for-profit or for-profit organizations developing or providing long-term, permanent affordable housing. These loans are supported by the Affordable Housing GIC impact investment.
Creating Safe and Affordable Housing is important to us!
As one of Kindred’s Community Inspiration Framework themes, we’re focused on safe and affordable housing. This theme includes the affordability of housing for first-time homebuyers, those on fixed incomes, supporting those accessing emergency shelters, and transitional housing which is critical to all our communities.
Within this housing continuum, the Affordable Housing GICs are focused on addressing rental housing and home ownership.
You can help, with the affordable housing crisis in our community.
Kindred Credit Union and WRCF have worked together to develop an innovative solution that has the potential to make a difference locally for people to find a place to call home.
Affordable Housing Loans for Organizations
Affordable Housing Loans are available to not-for-profit or for-profit organizations developing or providing long-term, permanent affordable housing. These loans are supported by the Affordable Housing GIC impact investment.
Organizations interested in applying for a loan can begin the process by completing WRCF’s online pre-screen application. Selecting “Affordable Housing” at question 13 provides the option of applying for a loan through Kindred, as well as the potential of receiving WRCF funding. By completing this pre-screen application, you could also benefit from WRCF’s affordable housing experience and resources. Get started on your pre-screen application by clicking the button below.
Our Partnership with WRCF
We’ve partnered with Waterloo Region Community Foundation (WRCF) to support the creation and retention of affordable housing through this innovative GIC. Kindred and WRCF each bring value to this unique partnership. The GIC and loan products will be held through Kindred, and WRCF’s experience with impact investments will support in assessing potential affordable housing projects applying for a loan. To learn more about WRCF, visit wrcf.ca.
How Does it Work?
The Affordable Housing GIC is open to all investors, and only available through Kindred. The GICs are available for a 4-year term at Kindred’s posted rate. Tiered rates are offered based on the amount invested. There is a minimum of $500 required. Investors earn a fixed-rate of interest on the principal amount they invest and have the convenience of choosing if it is reinvested or paid to a Kindred account. The product is eligible for non-registered, RRSP, RRIF, and TFSA accounts.
1. Invest to Support Affordable Housing
Invest in the Affordable Housing GIC. You’ll earn a competitive interest rate while supporting lending for long-term, owned or rented permanent affordable housing for residents of Waterloo Region.
2. A Pool of Deposits is Built Up
As a pool of deposits is built up, we’ll work with our partner WRCF to assess potential affordable housing providers to support lending for long-term, owned or rented permanent affordable housing projects.
3. Loans are Provided
Loans are provided from the GIC deposit funds to impactful housing projects. Although dollar-for-dollar matching may not be achievable, Kindred will seek to provide loans approaching the value of the GIC deposits.
Reporting on Community Impact
Regular reports will be published on the aggregate value of investments in the GIC and total approved loans to affordable housing developments in Waterloo Region. We will work with community partners to establish and communicate other key measures of success.
It’s easy to start investing!
1
Book a Meeting with a Financial Advisor. We can meet with you in person, over the phone, or online.
2
We’ll discuss which investment options best fit with your financial plan, and walk you through the steps to get started.
3
Earn interest on a competitive GIC while helping support affordable housing in your community.
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