We offer Community First Investment Certificates to individual and organizational investors for three, four, or five year renewable terms. The minimum investment is $500.
Your money goes to work in the community and earns a modest rate of interest.
When you purchase a certificate, we deposit the investment into an interest-bearing account at Affinity Credit Union. You select how much annual interest you wish to receive, between 0% up to 1% below the posted GIC rate, to a maximum of 3%. The difference between the interest that accrues on Community First’s account with Affinity Credit Union and the interest you choose to receive comes to Community First to reduce interest rates charged on loans, maintains a loan loss reserve and helps cover our expenses. You receives a charitable tax receipt for the portion of the annual interest that comes to Community First.
Although Community First Investment Certificates are not guaranteed for full repayment, we have taken several steps to minimize the risk to our investors.
Our Project Facilitator works closely with applicants for our financing, assisting them in strengthening their business plans.
Our Project Committee, advisors with strong backgrounds in both financial management and social development, thoroughly review each application to determine its viability and social benefit. The Project Facilitator arranges for ongoing mentoring and advice to the projects that we fund.
If a project loan should be defaulted upon, we make every effort to ensure the funds are recovered from the borrower. We also maintain a separate loan loss reserve from which any bad debt is covered before our investment fund would be affected.
Contact us to purchase a certificate.
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