Where Do Our Funds Come From?
Stewards Canada has four funds sources which are used to make mortgage loans. They are:
Demand Variable Rate Bonds
Investors who wish to support the work of Stewards Canada while making a rate of return are issued bonds carrying a variable interest rate. The rate on Stewards Canada Demand Variable Rate Bonds effective Jan 1st, 2017 will be 3.25% paid semi-annually. The bonds are redeemable at any time at the discretion of the bondholder. For more information, please read the Information Memorandum.
If you wish to invest in Stewards Canada bonds, please contact us here.
Registered Retirement Savings Plan (“RRSP”)
Stewards Canada operates an RRSP, registered with the Canada Revenue Agency, for Christians who want to invest for retirement and obtain a receipt for reducing their taxable income. This is a unique investment opportunity that allows for a steady pension investment return, backed by mortgage-based securities.
The rate of return of the Stewards RRSP for the past ten years has been as follows:
- 2018 calendar year – 4.95%
- 2017 calendar year – 5.0%
- 2016 calendar year – 5.3%
- 2015 calendar year – 6.1%
- 2014 calendar year – 5.4%
- 2013 calendar year – 3.6%
- 2012 calendar year – 4.3%
- 2011 calendar year – 5.5%
- 2010 calendar year – 4.7%
- 2009 calendar year – 4.3%
For those who wish to contribute to a Stewards RRSP, funds can be contributed directly into the plan, or existing plans with other sponsors can be transferred to the Stewards RRSP.
If you wish to transfer your RRSP to Stewards Canada, please complete the RRSP and RRIF Transfer Form: RRSP and RRIF Transfer Form
Registered Retirement Income Fund (“RRIF”)
Stewards Canada also operates an RRIF, registered with the Canada Revenue Agency, for Christians who want to begin withdrawing periodic payments from their previously-invested RRSP funds. The Stewards RRIF is also backed by mortgages which support the growth of Brethren assemblies and church. The Stewards RRIF enjoys steady growth and is not subject to the fluctuations common to equity markets.
The rate of return of the Stewards RRIF for the past ten years has been as follows:
- 2018 calendar year – 5.02%
- 2017 calendar year – 4.9%
- 2016 calendar year – 5.2%
- 2015 calendar year – 4.9%
- 2014 calendar year – 3.5%
- 2013 calendar year – 4.3%
- 2012 calendar year – 4.7%
- 2011 calendar year – 5.3%
- 2010 calendar year – 5.9%
- 2009 calendar year – 5.1%
For those who already have a RRIF, funds can be transferred from the existing sponsor to the Stewards RRIF. Please click on the following link: RRSP and RRIF Transfer Form
Tax Free Savings Account (“TFSA”)
Stewards Canada now offers a tax free savings account program. For 2020, the return will be 0.25% per month (3.0% for a full year). The funds will be invested in church mortgages similar to our bond investments and RRSP funds. TFSA Application Form TFSA Transfer Form (Please note these forms are fillable pdfs).
Once a TFSA account has been established, funds can also be transferred from existing TFSA with other financial institutions. Please contact your financial institution. There is no CRA-prescribed transfer form. The contact information necessary would be Stewards Canada, 2020-30 Intermodal Drive, Brampton, ON L6T 5K1