Investment solutions for Alberta Municipalities
Investing with us is your local option—with funds and support going back to Alberta municipalities and related organizations.
The program is built on solid partnerships developed with credible, successful organizations. These partnerships are formed only after rigorous due diligence, conducted on behalf of our members. We are pleased to announce the selection of five world-class service providers that will provide investment expertise; Aon Hewitt, CIBC Wood Gundy, CIBC Mellon and Alberta Investment Management Corporation (AIMCo).
High Interest Savings Account
AUMA has partnered with the Government Finance Officers Association (GFOA) and CIBC Commercial Banking to bring our members a pooled High Interest Savings Account (HISA). HISA offers a competitive interest rate, secured principal, and the ability to move your money at any time without penalty, regardless of the amount invested. Your deposits are held in your own account.
Grow your money: Create your account now and earn competitive interest*.
Move your money: Your money is fully-liquid and remains easily accessible. Make a deposit or withdrawal at any time with a single, simple step.
Secure investment: HISA offers steady growth, Municipal Government Act compliance, and CDIC deposit protection.
Our team is happy to walk you through the details so you can start earning higher returns. Contact us via email or call 310-AUMA (2862) if you have any questions.
*This rate is attached to CIBC prime rate. The effective annual interest rate will be based on the pooled average monthly balance.
HISA enrolment steps
1) Please fill out Form 0 in the Synergy package which will grant you access to Synergy, our secure customer portal, and email it to HISA@auma.ca. (Note: You will be able to add additional users to the Synergy site in Form 4).
2) The authorized representative identified to have Synergy access in Form 0 will be notified by e-mail once Synergy access is granted. The representative will then follow the steps in the Synergy Information and Instruction Manual to gain access to the Synergy site.
3) Fill out Forms 1 through 6 in the Enrolment Forms package and have your authorized representative upload Forms 1 through 6 to your Synergy site under the folder titled Onboarding – Initial (Just drag and drop – it’s that easy). (Note: Form 7 is just for your information and does not need to be uploaded).
4) Once AMSC has reviewed Forms 1-6 and there are no issues, you will receive a confirmation e-mail stating that your HISA account has been set up. If there are issues you will be contacted to make corrections. (Note: The e-mail will not contain any account numbers or sensitive information. You will then be able to access your account number in Synergy under the folder titled Onboarding – Initial). The bank account number is required for the Deposit and Withdrawal forms (Forms 8 and 9).
5) You are now able to start making deposits and withdrawals.
In addition to the investment funds already discussed, AMSC Investment Services provides members access to this additional benefit:
Investment policy review
An investment policy is recommended for any investor. The services of Aon Hewitt, AMSC’s third-party investment consultant, can be engaged for the purpose of conducting an investment policy review and development. The cost for this service is $2,000, with $1,000 reimbursed upon enrolment into the program; subject to a minimum investment of $500,000. This means the net cost to the member is just $1,000 for a professionally constructed investment policy.
MuniFunds: Money Market
This pooled fund is managed with the objective of providing competitive interest income to investors while maintaining very high capital preservation and liquidity.
The fund, which is managed by AIMCo (an Alberta Crown Corporation), is comprised of high quality, short-term and mid-term fixed income securities with a maximum term to maturity of three years. The Money Market Fund performance is measured against the DEX 91-day T-Bill Index. This fund may be suitable for investors with an investment horizon of less than one year.
The MuniFunds Subscription Package contains all of the documents necessary to participate in the service.
Download the MuniFunds Form to send trade instructions, including deposits, redemptions, and transfers.
AUMA regular and eligible Associate members are welcome to participate in the program. If you would like to learn more, email or call us at 310-AUMA to discuss your specific investment needs with our knowledgeable staff.