Canadian Co-operative Investment Fund (CCIF)
The Canadian Co‑operative Investment Fund is a response to a critical challenge facing co‑operatives and mutuals: accessing capital without compromising their autonomy. We need a source of capital that takes into account the realities of the co‑operative business model and that structures investments in a way that respects the principles and the role of capital within co‑operatives and mutuals.
The Fund does not replace or reproduce any current sources of financing available to co‑operatives and mutuals. It will create access to those traditional sources of financing by complementing co‑operative members’ investments with quasi-equity (subordinated debt), which will then leverage the financial services currently available at credit unions, caisses populaires and other traditional lenders. It will also become a partner of existing funds.
The Fund will work in partnership with other investors, like the federal government and other funds across the country. The Fund will harness the presence of financial co‑operatives everywhere in the country by developing a coast-to-coast distribution network. To do so, the fund will develop partnerships with credit unions and caisses populaires all across Canada to offer CCIF products – as a complement to their own products.
The Fund will be managed according to co-operative principles. Additionally, there will be Board representation for co‑operative developers, clients of the Fund and Co‑operatives and Mutuals Canada.