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CHF Canada’s role and partners

Since 2012, CHF Canada has helped 33 housing co-ops access over $100 million in financing to prepay CMHC mortgages and fund renovations renewing and upgrading the quality, durability and comfort of more than 2,242 units of housing.

Housing co‑ops participating in the program must be CHF Canada members, as well as members of their local or provincial co‑op housing federation, where they exist.

We connect co‑ops to a lender capable of providing the loan, help submit an application, and provide support and expertise through every step in the process.

This includes:

  • identifying what repairs or renovations are needed and how much they will cost
  • providing financial advice on how much debt the co‑op can comfortably borrow
  • preparing the application to the lender
  • reviewing the lender’s offer and negotiating any desired changes, and
  • helping the co‑op complete the paperwork required to secure the loan.

Once the loan is secured, we check in every year to ensure that the co‑op’s finances are healthy to repay the loan, to verify that the reserves and the buildings are maintained, and to help deal with any issues that arise.

CHF Canada’s financing team

CHF Canada’s Financing Planning Services are managed by a team with extensive experience and expertise in and co‑op housing financing.

Linda Stephenson is CHF Canada’s Manager, Insurance and Financial Services. Linda manages CHF Canada’s Financial Planning Services and is also responsible for CHF Canada’s Insurance Program. Linda has worked for CHF Canada serving Canada’s housing co-ops for over 30 years.

Dave Howard is CHF Canada’s Program Manager, Financial Planning Services. He has been very involved in co op housing for close to 25 years, including 10 years with the Agency for Co operative Housing, which oversees housing co-op viability and compliance on behalf of CMHC. Dave joined CHF Canada in February, 2017 and has personally supervised 12 co-op financing projects from start to finish since then.

In addition to staff, CHF Canada’s Financial Planning Services are supported by a team of top-level financial consultants, all experienced in social purpose lending through Canada’s credit unions. ‎These consultants are located in Ottawa, Toronto and London, Ontario, but can travel across Canada to meet the needs of CHF Canada member housing co-ops, wherever they may be.

CHF Canada’s lending partners

CHF Canada’s Financial Planning Services would not be possible without our credit union lending partners:

  • Alterna Savings
  • Assiniboine Credit Union
  • Atlantic Savings CU
  • Connect First Credit Union Ltd.
  • Desjardins
  • First Calgary Financial Credit Union
  • First National
  • Kindred Credit Union
  • League Savings & Mortgage
  • Libro Credit Union
  • Meridian Credit Union
  • Motor City Credit Union
  • Peterborough Community Credit Union
  • Servus Credit Union
  • Sudbury Credit Union Ltd.
  • YOUR Credit Union
  • Your Neighborhood Credit Union

By prioritizing credit unions, this program supports the important co-op principle of co-operation among co-operatives.

If you represent a credit union interested in participating in this program, please contact Dave Howard at 1-800-268-2537 ext. 239 or dhoward@chfcanada.coop.