MSCU Offering Impact Product

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    Mennonite Savings and Credit Union (MSCU) and Oikocredit Canada have teamed up to launch the ‘Oikocredit Global Impact GIC.’ Investors 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 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. The GIC is being offered as a 12-month term at an initial interest rate of 1.30 per cent. It is available to any individual or institutional investor in Ontario who is a member of the credit union.