Mission

The mission of Aboriginal* Savings Corporation of Canada (ABSCAN) is to contribute to the economic and social well-being of Aboriginal communities and their members within the scope of its field of activity:

• by offering Aboriginals safe and profitable savings products in the form of corporate bonds adapted to their needs;
• by providing financial support to Aboriginals in the form of secured loans in the real estate, institutional and commercial sectors.

* The adjective and noun "Aboriginal" refer to an Indian under the terms of the Indian Act (R.S.C. 1985 ch. I-5).

Legal Structure

Abscan was incorporated on October 21, 2005 under Part II of the Canada Corporations Act to serve as a fund-gathering medium offering Aboriginals better control over their economic development. The head office of the corporation is located at 265, Place Chef Michel Laveau, Suite 201, Wendake (Québec) G0A 4V0.

Abscan is related to the Native Commercial Credit Corporation ("NACCC") since its Board of Directors is made up of members of the NACCC Board of Directors.

The Context

In years to come, Aboriginals must be able to rely on financial mechanisms adapted to their needs to achieve balanced economic development.

The establishment of the Aboriginal Savings Corporation of Canada ("Abscan") provides one answer to the specific needs and concerns expressed in recent years by a large number of Aboriginal leaders in Quebec and Canada.

The prime objective of Abscan is to bridge the needs of Aboriginal investors and borrowers operating in the context of Canadian Indian reserves.

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© 2010 Aboriginal Savings Corporation of Canada