Grant: CCI Applied Research and Development Grants

The Housing Affordability Financing Study seeks to aid the Canadian Credit Union Association (CCUA) in supporting credit union efforts to improve housing affordability in Canada by: •Identifying the financial challenges facing Canadian organizations attempting to provide, build, develop, or improve options for affordable housing in Canada. •Cataloguing financial innovations being done by Canadian credit unions and other financial institutions throughout the world which are aimed at improving housing affordability. •Encouraging Canadian credit unions to consider implementing the innovations identified to improve housing affordability in communities across Canada. The study will result in reports outlining how financing challenges are contributing to the housing affordability problem in Canada, innovations Canadian credit unions and other financial institutions have implemented to improve housing affordability, and case studies demonstrating how the most promising solutions were implemented. These reports will provide the basis for the CCUA to scale up promising innovations to credit unions across Canada. Credit unions, as financial cooperatives, are guided by specific values and seven cooperative principles. This guidance promotes cooperation amongst co-operatives and concern for the community, making credit unions more inclined to share ideas, address problems that do not generate profit, and collaborate on projects that benefit society. The Housing Affordability Financing Study is designed to leverage the unique nature of credit unions to address affordable housing challenges in Canada.