2021 AWARD FINALIST
Sponsored by Toitū Envirocare
Community Finance was established in 2019 to bring affordable lending to the community housing sector. It brought together capital from five key stakeholders: The Lindsay Foundation, The Tindall Foundation, The Matua Foundation, Christian Savings and the Wilberforce Foundation.
Community Finance is helping to build new, energy efficient and affordable homes for Kiwis. All homes are built to a minimum of NZ Green Building Council Homestar 7 rating.
Community Finance’s Salvation Army Community Bond, a social impact bond, is the first of its kind in Aotearoa New Zealand. It raised $40m to build 118 apartments and houses over three locations during the Covid crisis. These have housed 150 adults and 59 children.
Community Finance has issued the Aotearoa Pledge. It’s a bold vision to raise $100 million in 2021. It secured cornerstone investment from the Generate KiwiSaver. As of May 2021, $71m had been secured. Investors included ANZ, Forsyth Barr, Generate, Pathfinder, Simplicity and The Clare Foundation. This will support a build-to-own programme in partnership with the community housing sector.
Community Finance is a collaboration between philanthropic foundations, financial institutions, community housing providers and the Ministry of Housing.