What is the Affordable Housing HISA?
The Affordable Housing HISA is a high-interest savings account designed to help non-profit affordable housing providers manage savings and reserve funds securely. It offers a prime-linked interest rate, which means you earn more if rates rise. Plus, your principal is not exposed to market volatility and all funds remain liquid, so you can access your money whenever needed, without penalty. As with any investments made with VCIB, your deposits help finance community impact projects, such as purpose-driven real estate and clean energy initiatives.The Affordable Housing HISA also offers:
- A variable interest rate: Prime less 1.85%
- No management fees
- Interest paid monthly
- 5 free outgoing transactions a month
- CDIC insurance up to $100,000
Who is eligible for the Affordable Housing HISA?
All non-profit affordable housing providers in Canada are eligible to invest in the Affordable Housing HISA. This secure, principal-protected, high-return product was designed specifically to help affordable housing providers continue their important work. If you manage finances for an organization that falls into this category, the Affordable Housing HISA may be a good fit for you.Why choose the Affordable Housing HISA?
As the country continues to grapple with inflation and the possibility of a recession, many affordable housing providers are looking for investment options outside the bond market. The Affordable Housing HISA was designed with affordable housing providers in mind. We understand the impact that inflation can have on your bottom line, and the need for liquidity when it comes to financing affordable housing projects. With competitive rates, and the ability to access your funds when you need them, the Affordable Housing HISA offers a flexible and secure investment solution for affordable housing providers. Plus, just like VCIB’s Impact GICs, the Affordable Housing HISA supports the development of affordable and sustainable communities in Canada. Your deposits are used to finance projects that help create or preserve affordable housing, and the interest you earn is reinvested into more affordable housing initiatives.Protect your savings, invest in your community
The new Affordable Housing HISA is designed to help affordable housing providers protect their investments and ensure the long-term viability of their projects. Impact investment HISA’s are a great way to invest in your community and make a difference while you save. The Affordable Housing HISA is just one way we’re working to support affordable housing providers. As the only bank in Canada exclusively financing businesses and enterprises that drive positive change, we have the experience and knowledge to help you reach your impact goals.Click here to learn more about VCIB’s Affordable Housing HISA. Ready to invest in change? Let’s talk.
