Be financially and socially conscious
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.
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 January 26, 2023 and are subject to change without notice.
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 July 24, 2023 and are subject to change without notice.
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:
SFU first university to choose VCIB Impact GIC
Jan 12, 2023
Simon Fraser University is the first university in Canada to invest with Vancity Community Investment Bank (VCIB). The $10 million […]
Impact investing, waste reduction, and a net-zero future: DMC is not your average healthcare provider
May 16, 2022
The team at Dialysis Management Clinics (DMC) takes the climate emergency seriously. So seriously in fact, that they have become […]
Meet our team
priority — and it was added value for us that VCIB’s GICs do good in the community too."
We offer term loans and lines of credit to enable the growth of non-profits, social enterprises, and purpose-driven businesses
From credit cards to savings accounts, we can support your organization’s day-to-day banking needs
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(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?
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.
VCIB is a Schedule 1 chartered bank operating under federal guidelines and regulated by the Office of the Superintendent of Financial Institutions.
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.
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.