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A Mortgage From Vancity Community Investment Bank

A Mortgage From Vancity Community Investment Bank

mort.detribpas.com – (VCIB) was founded in 1998 and is a subsidiary of Vanity Credit Union. It has more than half a million members and more than 60 branches. Offers commercial mortgage and personal forex solutions. Among its services VCIB offers Public Interest Credit Card Gold Visa Oxfam Canada Visa Cards Amnesty International Visa Cards and Refillable Visa Cards.

The original name of the company was City of Vancouver Savings and Credit Union. Currently serving the Vancouver Island region of the Lower Mainland and the Victoria region of British Columbia. In 1946 14 local residents signed the constitution of the Open Credit Union.

The syndicate was opened on October 11 1946 with total assets of $2966. In 2012 it was acquired by Citizens Bank of Canada and renamed VanCity Community Investment Bank.

A Mortgage From Vancity Community Investment Bank

VCIB recently announced its first Safety and Security Assurance Program with the Parkdale Neighborhood Land Trust. The initiative supports the acquisition of at-risk affordable rental properties in Parkdale to address a severe housing shortage. Through this initiative the bank has funded more than 100 communities and businesses across Canada. The project is still in its early stages but has reached its $200 million goal in British Columbia.

The partnership between the two organizations is a game changer. VCIB is Canadas first value-driven bank committed to driving social and environmental change. The Ministry of Finances portfolio also highlights innovative financing needs for the development of geothermal technologies. VCIBs parent company Vancity Credit Union has a long history in green building helping to shape the green building industry and pioneering development in green building codes. The banks new partnership with NLT is a huge step forward and will help make a difference.

Value-based banks contribute not only to the economic development of their communities but also to value-based investments and services. For example he has funded geographic exchange programs in Toronto and Chilliwack British Columbia. Projects that supply water to local residents through underground pipes are a unique model of urban development. Value-based banking will help build more sustainable and resilient communities.

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The project will save more than 40 affordable rental homes in the Parkdale area. Funds from the VCIB anchor investment will be used for the continued operations of NLT and the apartment acquisition pilot program. The 15-unit building will be preserved permanently as affordable housing. In addition the project will maintain and protect the buildings of an additional 15 units. VanCity Community Investment Bank is proud to support these local communities.

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