Vancity funding helps Chrysalis Society help women in need
About this story
- Organization
The Chrysalis Society - Region
Lower Mainland, BC - Area of impact
Affordable housing - Type of investment
Loan - Download a
long version of this story
For more than two decades, Chrysalis Society has helped women overcome chemical dependence and related harms that include homelessness, poverty, exploitation and abuse. A key to the society’s success is the truly comfortable, non-institutional home it provides to support these women’s recovery.
A few years ago an opportunity presented itself for the society to purchase the home it had been working out of for 10 years, but then the market jumped and the Society found itself well short of the funds needed to complete the purchase. That’s when Vancity stepped in, providing a mortgage to make up the shortfall and a line of credit to support the society’s future growth.
With the money the society has saved on rent, it was able to hire an outreach/advocacy employee and extend its critical services to more women in need.