The MSC are committed to responsible fiscal and moral stewardship of temporal goods. As bearers of the love of Christ to the world, we use temporal goods to support the needs of the world’s most vulnerable populations, including women, children, frail elders and immigrants.
Our Mission Finance leaders and partners pursue our vision through Impact Investing, a form of investing that generates positive social and/or environmental impact and financial return. The MSC’s Impact Investing effort supports a variety of sectors including education, healthcare, financial inclusion, clean water, renewable energy, affordable housing, sustainable agriculture and more. Additionally, in a time of unprecedented mass migration and displacement of persons around the world, the MSC are inspired by their foundress Saint Frances Cabrini, who was proclaimed the Patroness of Immigrants in 1950. Thus, the Impact Investing portfolio will focus especially on the needs of those who are forced to migrate due to poverty, climate change, lack of work or racial and religious persecution.
Latino Community Credit Union
The MSC maintain an interest-bearing, federally insured deposit with the Latino Community Credit Union (LCCU). This non-profit financial institution provides affordable, accessible, and fair financial services to the Latino population of North Carolina. LCCU serves 83,000 members from 137 different countries; 82% of LCCU members are low-income and 65% were previously unbanked. The MSC’s impact investment helps hard-working families access new economic opportunities, from a first home to a college degree.
Chartered in February 2000 through a unique partnership including local grassroots organizations and credit unions, LCCU set out to help the newly expanded Latino immigrant population in Durham, NC. Excluded from the U.S. banking system, Durham’s Latino immigrants were known to carry large sums of cash, making them easy targets for theft. A community-based financial institution to bridge language, cultural and trust barriers was the right solution. Today, LCCU boasts 14 branches across North Carolina as well as a strong virtual banking experience.
One Acre Fund
MSC’s investment in One Acre Fund helps smallholder farmers in Africa access the education, supplies, and financing they need to increase crop yields. More than 50 million small farmers in Sub-Saharan Africa are unable to grow enough food to feed their families. One Acre Fund’s mission is to provide resources to smallholder farmers in remote areas of Sub-Saharan Africa, where crop yields and access to financing lag those of the rest of the world. Marked improvements in the lives of farmers helps surrounding communities prosper; farmers invest in education, build businesses, and help neighbors in need. Moreover, One Acre Fund introduces sustainable farming techniques so future generations will be able to continue to grow nutritious food on their land.
One Acre Fund comprehensive program provides smallholder farmers with:
- Loans to buy high-quality seeds and fertilizer
- Supplies delivered within walking distance of the farmer
- Training on modern agricultural techniques
- Crop storage solutions and education about market fluctuations, so that farmers can time the sale of their crops to maximize profits
One Acre Fund is on pace to reach 1 million farming families by 2020 and has already served over 800,000 clients in the countries of Burundi, Kenya, Malawi, Rwanda, Tanzania and Uganda.
You can read more about One Acre Fund at: www.oneacrefund.org
Symbiotics Regional MSME Investment Fund for Sub-Saharan Africa (REGMIFA)
The MSC provide an interest-bearing loan to REGMIFA. Managed by Symbiotics, REGMIFA funds loans to Sub-Saharan African small businesses that foster economic development through employment creation, income generation and poverty alleviation.
Since the REGMIFA was established in 2010, the fund has provided loans to support more than 170,000 small businesses across 19 countries in sub-Saharan Africa. The majority of the countries are considered Least Developed Countries with an average Human Development Index ranking of 155 of 188 (Zambia, Senegal, Mali, Angola, Burkina Faso, Sierra Leone, Niger, Chad, Malawi, among others), according to the UN. Just over half of the borrowers are women.
REGMIFA provided a loan to Entrepreneurs Financial Center in Uganda which helps micro-entrepreneurs in Kampala grow their businesses. One such entrepreneur is Mr. Mpagi Siraje, an experienced poultry farmer. With a loan he was able to double the size of his business and now has five poultry houses with30,000 egg-laying birds.