Alterna Supports Rise Asset Development - a Rotman/CAMH Financial Initiative

TORONTO, June 5, 2012 /CNW/ - Alterna Savings is supporting Rise Asset Development to deliver micro financing to men and women with a history of mental health and addiction challenges who have an interest in pursuing self-employment.

A collaborative effort between the Rotman School of Management and the Centre for Addiction and Mental Health (CAMH), the Rise program also provides mentoring and development training through community partners. Operating throughout Ontario with average financing ranging from $3,000 to $5,000, up to a maximum of $25,000, they work with individuals pursuing self-employment who have a viable business plan or small business experience, but are unable to access credit from mainstream financial institutions.

Alterna Savings recognizes the value and importance of microfinance in Ontario.  For over a decade they've pioneered the micro-finance movement by supporting small and developing businesses through community based micro lending.  They understand that securing credit and accessing banking services are major roadblocks for many Ontarians looking to start a business, and through financial literacy and support, seek to provide a viable means of achieving business success.

"Micro finance is about financial inclusion for the underserved," says John Lahey, President and CEO of Alterna Savings. "We have seen first-hand the positive impact this program can have on families and the community at large and we're proud to help them develop the building blocks for business success."

Similar to Alterna's in-house Community Micro Finance Program, Rise Asset Development assists in achieving stronger, healthier communities, creating jobs and sustainable business growth, reducing the reliance on government assistance, building credit history, and reducing the stigma of mental health through education and outreach.  To learn more about Rise Asset Development please visit www.riseassetdevelopment.ca

Alterna Savings is a full-service, member-focused, and community-based credit union that operates in the National Capital Region and the Greater Toronto Area. Guided by a commitment to support the well-being of members, employees and communities, Alterna offers a broad range of financial products and services to over 100,000 members. Learn about the Alterna Savings difference at www.alterna.ca

SOURCE Alterna Savings

For further information:

Pamela Stewart, Vice President and Chief Marketing Officer, Alterna Savings,
416.252.5625 x7703, pamela.stewart@alterna.ca

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