Impact GICs
Be financially and socially conscious
VCIB’s Impact GIC offers organizations the ability to support transformational work in the community while investing at competitive rates. And, when you choose the Impact GIC, 100% of your investment contributes to affordable and sustainable communities across Canada.
Fixed Term
Impact GICs
4.25%1
1-Year Fixed Term GIC
- Terms between 30 days and 5 years. Contact us below for rates
- Interest paid annually on multi-year terms, and at maturity for all other terms
- Non-redeemable within the term
- Minimum of $50,000 per depositor
1. Rates valid as of August 28, 2024 and are subject to change without notice.
Cashable
Impact GICs
4.15%2
1-Year Escalator Cashable GIC
- 1-year term with additional escalator products available
- Fully cashable throughout the term
- Interest paid at maturity or at the time of redemption
- No interest is paid if redeemed during the penalty period
- Minimum of $50,000 per depositor
2. Rates valid as of August 28, 2024 and are subject to change without notice.
If you have specific questions click here to get in touch.
Meet our team
priority — and it was added value for us that VCIB’s GICs do good in the community too."
Download our Impact GIC package to learn more.
Now
Available
Business lending
We offer term loans and lines of credit to enable the growth of non-profits, social enterprises, and purpose-driven businesses
Impact banking
From credit cards to savings accounts, we can support your organization’s day-to-day banking needs
Frequently Asked Questions
What are the terms available?
For VCIB’s Fixed Term Impact GIC, deposits are available in term lengths between 30 days and up to 5 years and are non-redeemable during the length of their term. The Cashable Impact GIC is only available in one term length, 12 months, yet is cashable throughout the term. See the (linked in the above section) for full product details.
What’s the minimum Investment?
Our minimum account size is $50,000 per client, which can be invested across multiple deposits.
Are your Deposits guaranteed?
VCIB interest rates are guaranteed for the term of the investment. VCIB Deposits are eligible for deposit insurance by Canada Deposit Insurance Cooperation (CDIC). https://www.cdic.ca/your-coverage/
Can I invest in a VCIB Impact GIC as an individual?
VCIB Impact GICs are not available to individuals. As a commercial bank, VCIB exclusively serves impact organizations and businesses. For impact investment products accessible to individual investors please visit our subsidiary CoPower.me.
Can my existing broker, financial advisor, or portfolio manager buy this?
We are happy to work with your custodian to hold Impact GICs on your behalf. Please contact us for more information.
Will my deposit be insured?
Safely Insured
VCIB is a member of the Canada Deposit Insurance Corporation (CDIC). CDIC is a federal Crown corporation that was created in 1967 to protect the money Canadians deposit in member financial institutions.
Federally Chartered
VCIB is a Schedule 1 chartered bank operating under federal guidelines and regulated by the Office of the Superintendent of Financial Institutions.
Certified Beneficial
A B Corp’s™ purpose is to create social and financial value. To belong, they must meet high standards of transparency and accountability, and create positive social and environmental benefit.
Change Maker
VCIB belongs to the Global Alliance for Banking on Values, an international network of banking leaders who make social and environmental change a part of their financial model.
Vancity Community Investment Bank is a member of CDIC and is a Certified B CorpTM