Community Investment Notes Support Wider Economic Growth
Oct 31, 2011 04:27PM
The Progressive Asset Management Group (PAM Group) office in Wellesley is offering Community Investment Notes to support economic development locally, regionally and internationally. PAM Group is offering the notes, which are underwritten by the Calvert Foundation, through its broker dealer, Financial West Group. The notes have a minimum investment of $1,000. Maturity periods are from one to five years and interest rates range from .5 to 2 percent.
Clients can allocate their investments to a desired geographic location, such as the Boston Community Loan Fund, or to predetermined groups, including Habitat for Humanity and the National Peace Corps. Programs supported include small business loans, microlending, job training and housing development in both urban and rural communities. Eric Packer, a PAM Group investment advisor with more than 18 years of experience, says that community investing allows people to earn modest interest while supporting economic growth for others. “The only reason I’m still in this business as an advisor is because I personally believe that what I do is truly helping to make a difference,” Packer says
PAM Group, a member of FINRA/SIPC, is the Socially Responsible Division of Financial West Group. The Calvert Foundation is a nonprofit created by the Calvert Group, a socially responsible investment company.