The Board has the authority to appoint Committees and Chairs when appropriate. Committees act on behalf of the Board to make recommendations or decisions. The Board establishes the duties and responsibilities and the level of authority for a committee. All Committees must have one board member, preferably two. A board member can be an alternate for a committee member to make a quorum. Committee members may be removed from all committees after three consecutive unexcused absences. The Board member is the reporting link between the Board and the Committees.

The following Committees exist and have these responsibilities:

Investment Committee

• Monitors the overall investment portfolio and recommends to the Board of CFAC who reviews loan/investment policy and procedures.
• Adjudicates applications for financial assistance.
• Determines eligibility for financing.
• Adjudicates collection decisions on accounts as recommended by the Executive Director or the Commercial Loans Officer.
• The Chair of the Investment Committee reports to the Board as required, and minutes are referred for information.

Self Employment Committee

• Reviews and adjudicates applicants business concepts and business plans for the Self Employment (SE) Program.
• Works with the Small Business Advisor for the SE Program to develop policy and procedures, budgets and goals for the SE Program.
• The Chair of the Self-Employment Committee reports to the Board as required, and minutes are referred for information.

If you wish to be considered for the Self Employment Committee, please contact info@cfac.ca