Ontario credit unions are offering a new term deposit that gives investors an opportunity to help support the growth of Canadian companies, as well as foreign companies that have substantial operations in this country.

Global Integrity-The Maple Leaf Basket is a five-year, non-redeemable, principal protected term deposit whose return is based on the returns of 10 companies listed within the Dow Jones Sustainability World Index (DJSWI).

The product tracks the performance of these leading edge companies, all of which meet the index’s economic, social and environmental criteria for corporate sustainability. Each stock in the basket is weighted equally.

So far, credit unions are the only financial institutions in Canada that offer a term deposit linked to a sustainability index.

“Credit unions, and their members, have long supported the concept of socially responsible investing,” explains Mike Howard, VP, treasury of Credit Union Central of Ontario (Central).

The term deposit is 100% RRSP eligible and is available at select credit unions and caisses populaires in Ontario and at credit unions in Nova Scotia, New Brunswick, PEI and Newfoundland until March 1, 2004.

The 10 companies are: Alcan Inc.; Cognos Inc.; Dofasco Inc.; Shell Canada; Caterpillar Inc.; The Home Depot Inc.; 3M Co.; Starbucks Corp.; Norsk Hydro ASA; and Philips Electronics N.V.