History

We have been helping Canadian families through affordable education savings plans since 1965.

Milestones

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. 

2018 - Heritage Education Funds is acquired by Knowledge First Financial Inc. to pursue a shared goal of helping more families maximize their education savings through RESPs. 

 

Contact us today to learn more about Heritage Plans.