Changes for Oikocredit investors

Due to recent changes in investment regulations, the three Canadian Support Associations -- Oikocredit Canada West, Oikocredit Canada Central and Oikocredit Canada Atlantic are no longer able to issue new investments or renew existing investments.

Existing investors received notification of these changes in late-2014 and early in 2015.

There are a number of new options that will enable our existing investors to continue investing in Oikocredit. We also expect these vehicles to attract an ever larger group of new investors in the future.

Oikocredit Canada Central

In Ontario on Feb. 2, Oikocredit and Mennonite Savings and Credit Union ( MSCU) introduced the Oikocredit Global Impact GIC. For the first time ever, people in Ontario will be able to invest in a guaranteed, RSP-eligible investment aimed at lifting people out of poverty in low-income countries.

Investments in MSCU’s Oikocredit Global Impact GIC are guaranteed by the Deposit Insurance Corporation of Ontario (DICO) and are eligible for non-registered investments and registered accounts in RRSPs, RRIFs and TFSAs. They are available to any individual or institutional investor in Ontario who is a member of the credit union. When members invest in the GIC, MSCU purchases shares in Oikocredit International that match the principal amount, thereby providing funds to Oikocredit’s mission to support impoverished communities in low-income countries.

Oikocredit Canada Central is encouraging its existing investors in Ontario to join the credit union and transfer their investments to the Oikocredit Global Impact GIC with them. All funds deposited with MSCU will be invested by the credit union in Oikocredit International.

Also, in Ontario, the Canadian office of Oikocredit has created a new vehicle for “accredited investors” through the Oikocredit International Share Foundation. Accredited investors include high net worth individuals and registered charities such as churches. It will allow qualified investors to invest directly in Oikocredit and will be available until June 30, 2015.

Oikocredit Canada West

In BC, Alberta, Saskatchewan and Manitoba, the Canadian office is offering investments through the Oikocredit International Share Foundation. The offering is open to all investors generally in those provinces, but investors are required to fill out a risk acknowledgement form and, in some situations, an eligible investor form. This current investment opportunity is available until June 30, 2015.

This option is not available to Oikocredit Canada West’s RRSP share holders. The Canadian office and OCW are exploring other options for those members.

Oikocredit Canada West members are invited to attend the Annual General Meeting of the Oikocredit Canada Cooperative West on April 19 for more information and to hear about the changes.

Oikocredit Canada Atlantic

In the Atlantic provinces, Oikocredit Canada Atlantic (OCA) has suspended new sales and renewals of its co-op shares. OCA is working with the Canadian office to determine if there is interest by a credit union in forming a partnership similar to the model formed by Oikocredit and Mennonite Savings in Ontario.

It is important to note that even though the Support Associations are no longer accepting investments, they are working together with the National Support office to promote Oikocredit and to provide education in areas relating to poverty reduction in developing countries.

Questions?

Further information on these options is available on the Oikocredit Canada Invest page on our website.

You can also contact Eugene Ellmen, National Director of the Oikocredit Canada national office in Toronto.

Oikocredit Canada

1902 – 2 Bloor St West

Toronto ON M4W 3R1

Telephone: 416-996-2392

Email: canada@oikocredit.org