TORONTO, October 8, 2010 /Canada NewsWire/ - MCAP, a leading Canadian mortgage company, together with Habitat for Humanity Canada, have launched the Key to Hope program where consumers can make an ongoing charitable donation to Habitat for Humanity Canada by adding any amount to a MCAP mortgage.
The first of its kind, this program allows borrowers to add a specified donation amount to each mortgage payment, which MCAP matches and donates to Habitat for Humanity Canada on behalf of its customers. The goal of Key to Hope is to raise one million dollars for Habitat over the next five years.
"MCAP is always looking for new ways to engage our employees and customers in charitable causes," said Ron Swift, President of MCAP. "By facilitating this transaction through their mortgage payments, we are providing our clients with a convenient and effective way to support an organization that helps families experience the benefits of owning a decent and affordable home and all the associated benefits."
"We are thrilled to continue our ten-year partnership with MCAP, together raising more than $1.9 million in charitable donations," said Stewart Hardacre, President and CEO of Habitat for Humanity Canada. "With 1.3 million Canadian families unable to pay for rent and life's other necessities, Key to Hope allows homeowners to share the joy of homeownership with fellow Canadians in need."
MCAP is encouraging mortgage brokers to offer customers the Key to Hope program by introducing a partnership plan where brokers can also make donations, payable through their MCAP commissions. MCAP will then match all broker and consumer contributions.
The benefits of Habitat for Humanity's work stretch beyond safe, decent homes for partner families: communities benefit from the homeowners taking pride in caring for their properties; volunteers feel connected to the projects they contribute to; children have better self-esteem, become better students and enjoy better health when they have a secure place to call home; and families are transformed from defeat to dignity, gaining the stability to dream, plan and prosper. For more information, visit www.keytohope.ca.
MCAP is a leading independent Canadian mortgage and equipment financing company, which manages over $23 billion in assets. With more than 120,000 home mortgages under administration and offices across Canada, the company originates and services mortgage and leasing assets in four key lines of business: residential mortgages, commercial mortgages, construction loans, and equipment financing.
About Habitat for Humanity Canada:
Founded in 1985, Habitat for Humanity Canada is a national, non-profit organization working for a world where everyone has a safe and decent place to live. With the help of over 50,000 volunteers and 73 organizations from coast to coast, their mission is to break the cycle of poverty through affordable housing and the promotion of homeownership.