What are the benefits of investing with the FNFA ?
Because it taps into a $1.2B plus investment pool, the FNFA’s Investment Funds benefits from better interest rates, low service fees, and no penalties for withdrawing money prior to maturity. FNFA is not for profit: the benefits of pooled borrowing are passed on to the end user. The accounts are easy to use and offer fast turn around times to withdraw monies.
What kinds of investment options can the FNFA offer?
The FNFA offers 3 different types of investment options. Each one is suited to a different need. For short-term (up to a year) investment, the FNFA offers the Money Market Fund. For short to medium-term (up to 2 years) investments the FNFA offers First Nations the Intermediate Fund. For long-term investments (up to 5 years) the FNFA offers the Bond Fund. Each investment option offers excellent rates and no penalties for withdrawing money prior to the maturity date of the particular investment.
How can my community invest with the FNFA?
Opening an account with the FNFA’s Pooled Investments Fund is as easy as opening a bank account, and as easy to use. All the information and forms needed to join are available on this site. Call and speak with the FNFA today about what kind of investment options work best for your community.
How many investment accounts can a First Nation open, and do they have to immediately invest monies?
There is no limit to the number of investment accounts a First Nation may open. There are no costs associated with opening an account and there is no minimum balance.
When my community opens an account who can use it?
Only the authorized representatives identified when opening the account may sign to deposit or withdraw money from your investments.
Are my investments with the FNFA safe?
Paragraph 87(2)(f) of the First Nations Fiscal Management Act, restricts FNFA’s short-term pooled investment fund to investments into the pooled investment funds established by the Municipal Finance Authority of British Columbia (MFABC) under section 16 of the British Columbia Municipal Finance Authority Act, R.S.B.C. 1996,c.325. The investments are not guaranteed; however, the historical performance has been positive and the returns above mainstream instruments. The Pooled Investment Funds have never had an investment write-down. Minor capital gains/losses are to be expected from month to month; however, over the term of your investments with the FNFA, performance should be well above regular investment products