AdvantAge Mission Deposit Program
National Cooperative Bank’s AdvantAge Mission Deposit Program is designed to support the LeverAge Finance Program. Social investors’ long-term certificates of deposit (CDs) and matching funding from National Cooperative Bank will support LeverAge’s affordable, long-term, fixed and variable rate loan products for not-for-profit and cooperative aging services and senior housing models serving people with low-incomes.
AdvantAge deposits may be made in two categories: 1. “Generator” deposits for the expansion of proven models that do not require credit enhancement 2. “Incubator” deposits for innovations, start-ups, and projects requiring credit support and gap financing.
LeadingAge and Grantmakers in Aging have already committed over $500,000 in AdvantAge deposits. National Cooperative Bank will match Generator deposits dollar for dollar to increase LeverAge lending capacity