The purpose of the MFA is to provided financing and investing opportunities to local governments and regional hospital districts in BC. We are legislated by the Municipal Finance Authority Act and subject to the application of other statues; notable legislation that integrates with the MFA is the Local Government Act, the Community Charter, and the South Coast British Columbia Transportation Authority Act.
Long-term Borrowing: Fixed rate term financing for amortization periods between 5 and 30 years. Typically clients can secure long-term rates for their loans in the spring and fall of each year.
Short-term Financing: Variable rate financing for short-term capital needs, up to a maximum of 5 years or for funding in advance of revenue collections.
Equipment Financing: Variable rate financing of equipment for terms up to 5 years (may be renewable to a maximum of 25 years).
Pooled Investments: Fixed income mutual funds offering investing opportunity for operating cash or surplus funds. Three vehicles (Money Market Fund, Intermediate Fund, and Bond Fund) managed by professional investment firm; Phillips, Hager & North Investment Management Ltd.
Pooled High Interest Savings Account: Earn a preferred rate on liquid deposits without terms or fees in Canadian Chartered Schedule I Banks