Update: The Vancity Community Investment Bank (VCIB) acquisition of CoPower Inc. has officially closed

TORONTO, Nov. 14, 2019 /CNW/ - UPDATE: The Vancity Community Investment Bank (VCIB) acquisition of CoPower Inc. has officially closed. By acquiring CoPower, VCIB has become the first Canadian bank to acquire an impact investment firm. Please find November 7^th press release here for more information on this historic event.

Jay-Ann Gilfoy, CEO of Vancity Community Investment Bank, speaks at the Social Finance Forum on November 7th, 2019. (CNW Group/Vancity Community Investment Bank (VCIB))

Jay-Ann Gilfoy, CEO of Vancity Community Investment Bank, and Trish Nixon, Managing Director & Head of Capital at CoPower Inc., speak at the Social Finance Forum. (CNW Group/Vancity Community Investment Bank (VCIB))

"For the past two years, our focus at VCIB has been financing for social purpose real estate – but we knew that the climate emergency had to factor in as well," says Jay-Ann Gilfoy, CEO of Vancity Community Investment Bank. "We saw that, by joining forces, VCIB and CoPower could accelerate investment in communities that are affordable and sustainable. We could combine our expertise to create new investment products that drive social and environmental change and get them to a wider audience."

Both Jay-Ann Gilfoy, Chief Executive Officer at VCIB, or Jake Stacey, Vice President of Impact Banking, are available to speak about this historic acquisition and what it means for the Canadian impact banking space.

SOURCE Vancity Community Investment Bank (VCIB)

Nicole Hanley, A&C Inc., 416 966 3428