MCAP is aiming to extend the reach of one of the broker channel’s favourite charities, through both its broker-partners and their shared clients.
“MCAP is much more than a mortgage company,” said John Thompson, senior VP and chair for corporate social responsibility at the broker channel lender. “We understand what homeownership really means to people, families and communities. Research has indicated 89 per cent of Canadian consumers would be willing to change consumption habits if it could make the world a better place to live, so we wanted to do our part to make this easier.”
Through its Key to Hope program, MCAP is providing clients with an effective way to support the organization focused on helping families into safe and affordable homes that they then own. More specifically, MCAP borrowers can make an ongoing charitable donation to Habitat for Humanity Canada by adding any specified donation amount to each mortgage payment. It then falls to MCAP to match those funds, effectively doubling the impact.
The charity, which was founded in 1985 by U.S. President Jimmy Carter, quickly expanded its efforts to this country with Habitat for Humanity Canada. Enlisting the help of over 50,000 volunteers and 72 affiliated organizations, from coast to coast, the non-profit organization, is dedicated to breaking Canada’s cycle of poverty through affordable housing and the promotion of homeownership. While volunteers lead the construction of each home, members of recipient families also pick up hammers and nails.
MCAP has been a partner of Habitat for Humanity Canada since 2000, in that time generating more than $1.6 million in charitable donations. Key to Hope will increase MCAP’s support of Habitat helping even more families experience the benefits of owning the kind of “decent and affordable” housing that improves health, extends life expectancy and strengthens family connections to the community.
As an industry, the broker channel has turned to Habitat as a charitable partner whose mandate dovetails with its own.
The shared objectives will likely see many brokers who’ve funded deals through MCAP reach out to those shared clients for a chat about Habitat Canada and the lender’s Key to Hope program.