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Impact GICs

Be financially and socially conscious

Align your investments with your values.

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

3.65%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 November 15, 2024 and are subject to change without notice.

Cashable
Impact GICs

3.55%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 November 15, 2024 and are subject to change without notice.

If you have specific questions click here to get in touch.

Contact Us

The VCIB Impact GIC at work

When you invest in an Impact GIC, you help support important work like the preservation of affordable housing. With financing from VCIB, the Neighbourhood Land Trust acquired a 15-unit rooming house in Parkdale, Toronto, now permanently preserved as affordable rental housing for low-income community members. Read about this and other stories on our blog:

Meet our team

We put our values to work every day.​ Our dedicated team of financing experts is here to support you and help answer your questions.
Flora Lo
Associate, Impact Investments

Download our Impact GIC package to learn more.

Download Brochure

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

Learn More

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 Impact GIC Investment Package (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?

Yes, VCIB is a member of Canada Deposit Insurance Corporation (CDIC) . Client deposits are insured up to $100,000 per deposit type.

*All or part of the deposit may be withdrawn at any time, but deposit must be held for at least 90 days to earn interest. Interest rate is per annum and interest is paid at maturity or at the time of redemption. Non transferable.

The interest rates shown are indicative rates and may change without notice are only confirmed at the time of investment. The indicated rates are not available for transactions below the Bank’s minimum deposit thresholds, and do not reflect discretionary pricing that may be applied to client accounts. As interest rates vary depending on a number of factors we recommend you contact us when the product is available for investment to obtain an accurate quote. Rates are only guaranteed at the time of investment. Additional terms and conditions will apply.

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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.

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Federally Chartered

VCIB is a Schedule 1 chartered bank operating under federal guidelines and regulated by the Office of the Superintendent of Financial Institutions.

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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.

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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.

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Vancity Community Investment Bank is a member of CDIC and is a Certified B CorpTM

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