CIBC Joins Forces With First Nations Market Housing Fund

Winnipeg, November 2, 2016 — John Beaucage, Chair of the First Nations Market Housing Fund (“the Fund”) announced that CIBC has chosen to become a participating lender, qualified to finance home loans backed by the Fund on First Nations’ lands. CIBC is the second of the Big 5 banks in Canada to support First Nations through the Fund’s Credit Enhancement program.

“Today is an exceptional day. It is my privilege to welcome CIBC to the Fund’s stable of participating lenders who pride themselves in providing a high level of service to First Nations. CIBC’s partnership with the Fund represents a huge step forward for First Nations governments and their citizens” said Mr. Beaucage. “This is an exciting time for borrowers in First Nations communities who have another option to build, buy or renovate a home of their dreams.”

Having another national lender on board with the Fund will result in more choice in underserved geographic areas, and opportunities for First Nations governments to establish new relationships with a financial institution that will increase their home loan options and provide opportunities for other competitive financial offerings.

“With a significant housing shortage in many Indigenous communities across Canada, CIBC is pleased to become a lending partner of the First Nations Market Housing Fund, offering Indigenous people another banking option,” says Alicia Dubois, Vice President, Indigenous Markets, CIBC. “Through this partnership, we look forward to working with First Nations communities to address the housing issue on reserve and settlement lands.”

The First Nations Market Housing Fund

The Fund is a registered not-for-profit trust established by the Government of Canada, that was born out of what has become known as the Kelowna Accord. First Nations communities continue to lag behind the rest of Canada in health and most social and economic determinants - including housing. The latest figures from Statistics Canada, in 2011, show that 31 percent of on-reserve units were privately owned compared with approximately 69 percent of non-indigenous Canadians. The Fund helps First Nation families overcome the barriers to home ownership and close the housing gap.

The federal government’s one-time investment of $300 million in the Fund has the potential to leverage $3 billion of investments in homes on reserve and on settlement lands and lands set aside for First Nations across Canada. To date close to $900 million in potential credit has been approved by the Fund in almost 100 of the 218 First Nations communities working with the Fund.

The Fund helps First Nation communities by:

  • Providing a 10% backstop for housing loans guaranteed by the First Nation;
  • Providing financial leverage to negotiate with lenders for the best possible loan terms and conditions;
  • Strengthening First Nations communities and supporting increased self-sufficiency by providing financial literacy and financial management tools, enhancing the governance framework and developing capacity with education, information and innovative services.

The Fund works with financial institutions committed to providing a high level of service to First Nation governments:

CIBC joins a growing list of financial institutions across Canada which have chosen to finance loans backed by the Fund, including BMO; Peace Hills Trust; First Nations Bank of Canada; Vancouver City Savings, Affinity and Valley First Credit Unions; Envision Financial; Desjardins Group; Northern Savings Credit Union, and six Caisse populaires in Ontario located in Hearst, Kapaskasing, Verner, Alban, Noëlville and Sturgeon Falls.

For more information, please visit the Fund’s website at

Media Contacts:

First Nations Market Housing Fund
Deborah Taylor
Executive Director

Caroline Van Hasselt
Director, Public Relations

CIBC Business Contact
Alicia T. Dubois
Market Vice President, 
Indigenous Markets


A Snapshot of the First Nations Market Housing Fund’s latest Partner

CIBC Indigenous Banking

CIBC is committed to providing financial services to First Nations, Inuit and Métis. Our dedicated Indigenous Banking Team has the knowledge and experience to meet the needs of Indigenous clients — whether they are individuals, businesses or communities. In addition to the team’s strong background in Indigenous banking, we offer products and services with distinct features to address specific financial issues, both on and off-reserve.

At CIBC, we go beyond traditional banking and demonstrate our commitment to the Indigenous community by taking an active role in community-based and national sponsorship, donations and education programs. Since 1993, CIBC has also been a proud supporter of Indspire, a non-profit organization that promotes the development and education of Indigenous people, especially youth, and most recently, supported their Building of Brighter Futures campaign, which funds academic bursaries and scholarships. To learn more, please visit our Indigenous Banking site on