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Programs & Resources
Alterna is guided by our commitment to support the well-being of our members, employees and communities.
We promote community economic development through programs that serve both individuals, such as our Microfinance program, and our work that supports the financial resilience of the non-profit sector.
Here are some programs your organization may be eligible for:
Our Microfinance program works to address socio-economic inequity by creating opportunities for financial independence and reducing barriers to banking for those often excluded from financing.
• Up to $25,000 for entrepreneurs
• A built-in micro-savings component to bolster
• Focus segments include:
• Low-income earners
• Professional development
• Skilled professionals and trades
• Social entrepreneurs and enterprise
• Women entrepreneurs
• Black entrepreneurs
• One-on-one consultations
• Financial education
• Credit Building
• Workshops and tools
• Wrap around support
Joint Loan Program with BDC
Black entrepreneurs, social entrepreneurs, and women entrepreneurs who have received up to $25,000 in funding through Alterna's Community Microfinance program will have the opportunity to do double this amount through this new program with BDC, for a potential total of $50,000.
Community Financial Resiliency Program
Our Community Financial Resiliency Program helps improve the capacity and resilience of the not-for-profit and charitable sector to build equity, and strengthen their financial sustainability.
We do this by offering
- Free banking for not-for profits and charities
- High-interest earnings on banking for eligible Affordable Housing Providers
- Financial education for not-for profits & charities & their communities
- Access to funding
- Governance and capacity building tools
- Support to amplify causes & develop social purpose real estate
Additional advocacy and support around:
- Connecting community organizations
- Research and knowledge sharing
- Sector building
- Policy development
- Pilot projects
- Collaboration and shared platforms
Community Financial Education Programs & Resources
At Alterna, we believe strongly in supporting the financial health and well-being of communities. One of the ways we do that is by developing and delivering financial education programs and resources tailored to the specific needs of the individuals, organizations, and communities we serve. Our programs include customized curriculums for:
- individual members
- co-operatives, not-for-profits, and charitable sector organizations
- small business owners and entrepreneurs.
These financial education programs were designed to provide wrap-around support to underserved and underrepresented individuals and organizations. The curriculum encompasses a wide range of topics, from budgeting to more in-depth and specific workshops for social innovators and entrepreneurs or non-profit and charitable organizations.
For further information about Alterna’s financial education offerings through our Community Impact Department, please contact firstname.lastname@example.org.
Community Grants Program
The program provides grants of up to $1,000 to initiatives where a small amount of money can have a significant impact in the communities we serve.
- Registered charities
- Incorporated non-profit organizations
- Co-operatives without share capital
- Unincorporated associations are eligible with the sponsorship of an eligible incorporated organization. Alterna will only issue cheques to incorporated groups
- While membership in Alterna is not a requirement for grant funding, preference will be given to member organizations. Click Here to find out more about how your organization can benefit from membership at Alterna.
Completed applications can be submitted to email@example.com A complete application will include:
- Completed application form
- Proof of charitable status, copy of Articles of Incorporation or Letters Patent
- Letters of recommendation (optional)
- For unincorporated associations, a letter of support from an incorporated non-profit organization is required. Cheques will not be issued to unincorporated groups.
Application Deadline: April 29th 2022
- Initiatives that take place outside of Alterna Savings service areas (Greater Toronto Area, Ottawa, Kingston, Pembroke, North Bay, Dryden, Fort Frances, Ignace, Rainy River, Sioux Lookout, Thunder Bay, Dutton, Wardsville, Thamesville, Peterborough)
- Groups that discriminate or restrict access based on things like race, colour, religion or creed, sexual orientation, gender identity or disability among others
- Political or fraternal organizations, service clubs, or third-party organizations that raise funds for charity
- Private (fee-based) elementary or secondary schools
- Religious organizations, unless they are engaged in a significant project benefiting the entire community
- Endowment or memorial campaigns
- Conferences, events or golf tournaments
- Advertising or promotional campaigns
- Travel-related events, including student trips or tours
- The creation or repair of statues, monuments, art work or beautification projects
- The publication of books or movie productions
- Private foundations
- Sports teams (unless they are sponsored by a qualified donor)
Financial Inclusion Grants
The Financial Inclusion Grant Program will typically award grants of up to $40,000 to 1 or 2 organizations annually. Through this program, we are looking to identify innovative programs that will work to address issues of Financial Literacy and Financial Inclusion among underserved communities. Particular emphasis will be placed on initiatives that offer opportunities for scale and/or replication to other communities. Emphasis will also be placed on initiatives that offer broader opportunities for partnership with the Credit Union.
Alterna’s Financial Inclusion Grant Program supports:
- Registered Charities
- Incorporated non-profit organizations
- Co-operatives without share capital
- Unincorporated associations are eligible with the sponsorship of an eligible incorporated organization. Alterna will only issue cheques to incorporated groups.
- While membership in Alterna is not a requirement for grant funding, preference will be given to member organizations.
Click Here to find out more about how your organization can benefit from membership at Alterna.
Step 1. Letter of Inquiry
If you have an idea that you think would be a good fit for the Financial Inclusion Grant Program please submit a maximum 2-page Letter of Inquiry detailing your initiative.
Step 2. Request for Proposal
Alterna will review all letters of inquiry and invite a limited number of organizations to submit full proposals for funding.
Step 3. Proposal Submission
Alterna will only consider proposals from organizations that have been invited to submit a full proposal based on their letter of inquiry.
Step 4. Application Review
Received proposals will be reviewed by an internal committee of Alterna staff. Proposals will be evaluated on a number of criteria including potential for replication or scale of the initiative, impact, measurable results.
Step 5. Grant Approval
Alterna will inform all applications as to the status of their application. Successful applications will be announced on Alterna website and social media.
Letter of Inquiry Deadline: May 31, 2022
Proposal Deadline: September 10, 2022
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