Advocacy groups for fair banking have long derided the fees, which they say disproportionately affect low-income and vulnerable people. With rising grocery and housing prices, the fee reduction means real savings for families where every penny counts.
Community Information Exchanges are a common model in the States, and Canada now has examples in both Calgary and Edmonton. However, they can present non-profits with some challenges, including ensuring that clients can give consent to legacy IT systems and software that may not enable easy data-sharing.
The latest intake of the BC Community Housing Fund would have poured more than $775 million into the province’s non-market housing sector. Despite homelessness rising in 60 per cent of BC communities surveyed, advocates also pointed to a shift in government funding that prioritizes “near-market” affordability over those that have a deep, chronic need for housing.
Participatory grantmaking provides equity, transparency and inclusivity by shifting decision-making power to communities. It puts local voices in charge by determining where funding could be best utilized in their community.
Grant clawbacks could have a direct impact on non-profits budgets and ultimately cut programs or reduce staff. It also signals increased financial uncertainty, making long-term planning and sustainability challenging for organizations across Nova Scotia.
