To better understand what is required to develop a retail impact investing product, this chapter profiles four Canadian and two American products representing some of the most established retail impact investments.

Canadian Retail Impact Investment Products

  1. The Oikocredit Global Impact Guaranteed Investment Certificate developed by Mennonite Savings and Credit Union (Ontario) and Oikocredit Canada
  2. The Jubilee Fund Investment Certificate developed by the Jubilee Fund and Assiniboine Credit Union (Manitoba)
  3. The Resilient Capital Program developed by Vancity Credit Union (British Columbia)
  4. The Community Bond developed by the Centre for Social Innovation (Ontario)

US Retail Impact Investment Products

  1. The Calvert Foundation’s Community Investment Fund Note (United States)
  2. The Rudolf Steiner Foundation’s Social Finance Investment Fund Note (United States)

These products were selected among a broader range of retail impact investment products listed in Appendix A using the following criteria:

  • Relevance: Products that engage credit unions or attempt to engage credit unions or similar financial institutions in the development or distribution process. Products that have minimum investment requirements and are accessible to the average retail investor.
  • History: Products that have a long-term history and are able to provide insight into several aspects of the product development process.
  • Diversity: Products that expose readers to a diversity of structures, including geographic target, thematic sector, and asset class.

For each case study, we conducted a series of interviews with individuals involved in the product development process and deployment of the retail product. These interviews reflect diverse perspectives of employees in senior and functional roles.

The summary table provides a snapshot of each case study.