The Aboriginal Savings Corporation of Canada (ABSCAN)

Background

The Aboriginal Savings Corporation of Canada (ABSCAN) was incorporated in 2005 to serve as a fund offering Aboriginal peoples better control over their economic development. Their mission is to contribute to the economic and social well-being of Indigenous communities by:

• Offering Aboriginal individuals safe and profitable savings products in the form of corporate bonds that are adapted to their needs; and
• Providing financial support to Aboriginal individuals in the form of secured loans in the real estate, institutional, and commercial sectors.

In the Huron-Wendat Nation, ABSCAN created a housing loan fund, enabling individuals to become homeowners, decreasing dependence on government subsidies, and stimulating economic development in the community.

Full Description

Foundation support will enable ABSCAN’s creation of a First Market Housing Precursor Fund, to expand its work in the Huron-Wendat Nation to additional communities. The Foundation’s grant will also support program and fund development.