Selina Pieczonka, Stakeholder Engagement Coordinator
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To view our 2020 Annual Report - 50th Anniversary: CLICK HERE
The MFA is a unique and innovative organization, built by and for Local Governments to act collectively to finance the future of our communities. The MFA helps by reducing financial costs, risks, and staff time through a cooperative model that is unique in Canada and has been instrumental in BC’s growth and success.
Governed by a 39 Member board of elected appointees from all BC Regional Districts, the MFA ensures all regions have a seat at the table and a voice for their citizens.
Since 1970, the MFA has issued over $20 billion dollars in bonds to fund BC’s infrastructure, representing thousands of loans that built water plants, wastewater processing facilities, police stations, municipal halls, recreation centres, extended care facilities, and more. We continue to provide the lowest municipal borrowing rates in Canada for all local governments in British Columbia, regardless of size of loan or community.
Our short-term lending products provide flexible and inexpensive bridge financing for capital projects, cash flow support while awaiting property tax or grant payments, and to purchase much needed vehicles and equipment like firetrucks and communications systems.
The MFA has a suite of best-in-class investment vehicles that are inherently diversified, suit varying time horizons, and some options may even meet a community’s desire to invest in fossil fuel free options. We currently have over $4 billion dollars under management, and the buying power of our shared investment dollars results in the lowest possible fees for professionally-managed, institutional-quality investments. In 2021, we will introduce a new multi-asset class, growth-oriented pooled fund option suitable for long-term reserves - a first for BC.
The MFA will continue to work on behalf of BC’s local governments to provide innovative, best-in-class lending and investment options for our communities to secure the financial futures of all our citizens – and will continue to do so for many more years to come.