History

Our heritage of helping children with their educational funds isn't just our history, it's our name and who we are!

Heritage Education Funds Inc. has been helping Canadian families since 1965. Specializing in Pooled / Group RESPs with flexible and affordable plans available to Canadian parents. With nearly 440,000 children enrolled and over $2.2 billion in assets under management as of September 30 2013, the future of Heritage and the future of our children looks bright.

Milestones in Heritage Education Funds RESP History

1965 - Creation of Canadian American Financial Corp. (Canada) Limited (CAFC), which later became Heritage Education Funds Inc.

1972 - CAFC (along with other RESP providers) was instrumental in establishing legislation to bring about the registration of scholarship plans making them RESP.

1972 - There were six Home Office employees

1982 - First computer purchased by the company. 

1983 - The company acquires a foothold in Hong Kong, Latin America, Israel and the Caribbean.

1986 - CAFC becomes a subsidiary of Allianz Life Insurance Company of North America.

1988 - Heritage Scholarship Trust Foundation is created and the Heritage Plan is launched, becoming one of the fastest-growing pooled RESPs in Canada.

1989 - 12,890 members enrolled in the Heritage Plan.

1990 - CAFC celebrates 25 years in the RESP business with $9,801,890 assets under management.

1992 - CAFC announces the Plans are fully transferable to another child from age 14 - 17. 

1993 - 5 years after the Heritage Plans is launched, CAFC pays-out their first scholarship. 

1995 - CAFC pays out highest in Scholarship Awards for the third year in a row – a 17% increase over other RESP Scholarship Awards. 

1998 - Canada Education Savings Grant (CESG) Program introduced.

1999 - CAFC returns $6.9 million in principal and scholarships to subscribers and beneficiaries. The CESG has reached over $16 million on behalf of subscribers. 

2000 - CAFC pays-out more than $9.2 million in Scholarships and Maturity refunds with assets under management that exceed $275 million.

2000 - 100,000th child enrolled in the Heritage Plan.

2001 - Distributor – CAFC changes its name to Allianz Education Funds Inc., aligning itself with its parent company – Allianz Life Insurance Company of North America. 

2002 - Assets under management exceed $600 million.

2003 - Impression Plan is introduced for self-directed investors.

2003 - The new teacher's award was introduced – National Excellence Awards for Teachers (NEAT) program which provides five awards totally $25,000 to early childhood education teachers.

2004 - Senior management team purchases the business from Allianz, changing its name to Heritage Education Funds Inc. 

2004 - Canada Learning Bond (CLB) is introduced by the Federal Government.

2004 - Enhancements to the CESG Program proposed.

2005 - Heritage Education Funds celebrates 40 years of building Canadian children's futures with over $1 billion in assets under management.

2005 - Government of Alberta introduces Alberta Centennial Education Savings Grant (ACES).

2006 - Canada Education Savings Grant Program enhancements introduced and the new Universal Child Care Benefit (UCCB) arrives ($100 per month per child under age six).

2006 - BC government announces that starting in 2007, BC Children's Education Credit will be made available to families. 

2007 - Heritage invest in $250 million in Principal Protected Notes (PPNs) as a new investment vehicle. 

2007 - Quebec government introduces Quebec Education Savings Incentive (QESI). 

2008 - More changes from Federal Budget: the time limit that an RESP can remain open is increased from 25 to 35 years. 

2009 - Heritage celebrates 45 years of helping to create a bright future for students. The Heritage Plan has over 375,000 children enrolled.

2010 - Since inception (1988), Heritage has paid out over $610 million in assistance payment for Post Secondary Education.

2010 - Heritage opens its first social media account (Facebook)

2011 - Heritage Education Funds celebrates over 46 years of building Canadian children's futures with over $2 billion in assets under management.

2012 - Saskatchewan government announces a new Saskatchewan Advantage Grant for Education Savings (SAGES) to come into effect January 1, 2013. 

2012 - The government of British Columbia proposes the BC Training and Education Savings Grant (BCTESP). 

2012 - Heritage is proud to have surpassed over $900 million in payouts to our subscribers since inception.

2013 - Heritage Education Funds Donates $10,000 to Canadian Red Cross Alberta Flood Fund.

2013 - The Heritage Plan celebrates its 25th birthday.

2013 - The Government of Saskatchewan introduces the Saskatchewan Advantage Grant for Education Savings (SAGES) Program.

2013 - Heritage Education Funds surpasses $1 billion in payouts since inception of the Plan.

2014 - Heritage is one of the first RESP providers to take advantage of SAGES. 

2014 - Heritage rebrands their corporate identity and launches several digital initiatives and the #StartEarly commercial. 

2015 - Heritage Education Funds celebrates its 50th Anniversary. Serving Canadian Families for over 50 years. 

 

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