Let's go 100% local: The Vancouver Island Community Investment Co-operative will support social, environmental, and economic sustainability by channeling local investment dollars into community enterprises that support social, economic and environmental goals.
Since 2012, the Community Social Planning Council has been leading an initiative to develop a community investment fund that will invest in affordable housing and community enterprises in the region and on Vancouver Island, supporting local sustainable jobs, housing, economic and social opportunities. With the support and advice of community members with relevant expertise we are now ready to incorporate the Vancouver Island Community Investment Co-operative and plan to issue our first offering to the public in early 2015.
Community Investment Funds or CIFs are gaining popularity across Canada and internationally as tools for communities to build and support local economic and social development. In financial terms, a CIF is way for local people to direct their investments into local projects, CIFs are sometimes, but not always, accompanied by a tax credit and RRSP eligibility. Unlike traditional philanthropy your contribution to a CIF is an investment and comes with both the risk and return associated with that. For example, people could invest in a CIF as part of a Registered Retirement Savings Plan and receive a tax credit. A multi-stakeholder, independent board then evaluates applications and invests money from the local CIF to local environmentally responsible and socially innovative businesses, cooperatives, community enterprises, or affordable housing developments. The CIF in turn provides investors a specific withdrawal date and a target rate of return.
News and Resources
Focus Magazine Editor's Letter | No Excuses Now | September 2014
Inaugural AGM Documents | September 2014
Community Investment Funds How-to Guide | July 2014 (currently being revised)
- How-to Guide without appendices
- How-to Guide appendices only (Read the case studies)
Vancouver Island Community Investment Cooperative Founding Documents | June 2014
Vancouver Island Community Investment Co-operative - Individual Membership Application Form
Policy Brief: Enabling Community Investment | May 2014
Media stories from December 2013/January 2014
- January 9, 2014. Times-Colonist EDITORIAL- Investment pays social benefits
- January 8, 2014 Times-Colonist article by Sandra McCulloch - Group seeks RRSP money to build affordable housing in Victoria
- January 6, 2014 CBC On the Island with Gregor Craigie
- January 2, 2014 C-FAX 1070 The House of Common with Frank Stanford
- December 20, 2013 Tyee.ca article by Jackie Wong - Retirement Savings Could Jump-start Victoria Affordable Housing - Redirect RRSP investments into local projects, and re-engage progressive citizens.
Update | June 2013
Backgrounder | June 2013
Powerpoint presentation - A Community Investment Fund for Greater Victoria | Jan 2012
Focus Magazine Article – Put your money where your municipality is | Jan 2012