Giving back to brokers in a big way

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MCAN’s ICON partner program is not your typical rewards program. Yes, it gives to brokers – but even better, it gives back to clients

THIS IS one loyalty program that doesn’t just reward the hard work of brokers, but rewards clients, too. MCAN Home Mortgage Corporation’s ICON partner program is designed to support MCAN’s partners, to give them a unique tool that can differentiate them for potential clients and increase referrals from existing clients. Started in 2019, the program is a way of “giving back through our brokers giving back to the community and to our clients,” says Ryan White, senior business development manager (southwest Ontario), MCAN Home Mortgage Corporation. “We want to drive more business to our broker partners through giving back to the end client, and make it a win-win-win for everyone.” Kim Mercer, director of corporate brand and marketing at MCAN Financial Group, agrees, and emphasizes the program’s foundations in company culture.

MCAN Financial Group’s mission is to provide sustainable growth and returns to all its stakeholders through its relationship-driven lending and investing activities. Since its beginning in 1992, the company’s goal has been to be the preferred mortgage lender and investor in its chosen markets in Canada. Our foundational experience and knowledge of Canadian real estate mean we build mortgage solutions that reflect the needs of real Canadians, solutions inspired by real life and delivered through an exclusive network of accredited mortgage brokers. With people-first financing and investing solutions that help Canadians achieve homeownership and build wealth through real estate, we are reframing our investment in community and home.

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“We want to drive more business to our broker partners, through giving back to the end client, and make it a win-win-win for everyone”

Ryan White, MCAN Home Mortgage Corporation

“This is organic – a natural extension of the way MCAN values community, partnership, and connection,” she says. “All of our products, all of our programs, we do develop in partnership with our brokers.” The program has evolved, and will continue to do so, with feedback from partners, in response to their changing priorities and in alignment with the MCAN brand. This past June, the company split $25,000 in mortgage payments among some very deserving clients of mortgage broker Jonathan Askew of The Mortgage Store in London, Ontario.

In this rate environment, that can translate to a customer being able to make their car payment. The support manifest itself not only through free mortgage payments, but additionally through MQ bonus payments direct to brokers, and a charitable component that supports causes that the partner broker cares about. But there’s yet another reward that comes from this program. “Ultimately, in this tough environment, any time you can put smiles on clients’ faces, it’s rewarding,” White says.

$5,000 quarterly mortgage payment draws (held in January, April, July, and September) $2,000 free mortgage payment $25,000 annual mortgage payments draw (next one to be held on second Monday of January 2024) charitable donations (calculated on total annual MCAN Discover-funded volume and directed in the broker’s name to an organization of their choice in January 2024) broker summit invitation (partner summits to be held in Vancouver, Toronto, and Ottawa)

One family, during a grand prize presentation, was looking forward to buying toys for their children. “The clients are so grateful. And in this environment, just to be able to help alleviate some of the stress that is in their lives, it means the world to us.” Mercer notes an ecosystem effect for MCAN, which disperses the money, the brokers who broker the deals, and even the lawyers and real estate agents with whom they interact. That helps spread the word through referral sources.

“You can definitely tell the relief,” White says of the look on people’s faces this year compared to previous years. “It helps them get by and helps them make ends meet.” Mercer says she has seen iPads given as birthday gifts because of the donations, or a special trip to the toy store, or, more practically, being able to make a car payment. “Hearing that and to know that you’re actually making a real difference, big or small, is really meaningful,” says Mercer. “Right now, this money can be a lifesaver for some clients. Removing financial stress for someone isn’t just about the money – it’s about the mental health that stress can cause, the interpersonal issues and the uncertainty that many Canadians feel right now.”

She adds that the MCAN purpose goes beyond investing in partnerships and clients, but in communities as well. The company has partnered with One Tree Planted, which plants four trees for every mortgage they fund – one for the client, one for their partner, one for the home team, and one for the community. MCAN funded planting in Canadian regions affected by deforestation and wildfires.

Published 18 Sep 2023

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“Removing financial stress for someone isn’t just about the money – it’s about the mental health and interpersonal issues that stress can cause. And right now, many Canadians are feeling uneasy and uncertain”

Kim Mercer, MCAN Financial Group

How ICON is helping Canadian communities

“Honestly, it’s the best part of my job.” White has personally participated in payment presentations totalling more than $70,000. More specifically, the program features:

(The MCAN ICON Partner Program applies to their Discover Alternative series of mortgage solutions.) White says he had never before worked with a company that has put such a client-facing approach on its rewards program. “It makes me feel like I’m part of a company that cares for every individual in the transaction.”

The first big novelty cheque was presented in September of 2019, with Ryan and one of his top brokers presiding. That continued on throughout the pandemic over Zoom, and they are now back to doing in-person presentations. “We’ve had tears, laughter, and lots of hugs,” White says. “We’ve had people going though health problems, saying that it made a world of difference to what they were dealing with in their lives.”

“Ryan White’s assistance and support have given us the ability to reach the status where we are able to participate in the ICON program. It’s such a privilege to have a lender who values the lender-broker-client relationship,” says Askew, principal broker, The Mortgage Store, and frequent ICON partner. “It feels so wonderful to hear the excitement of our clients when we are able to share this program with them. Especially in these uncertain times, all of our participants have been so extremely grateful for this gift.” This year, the need for the program is even more profound, with increasing interest rates and inflation taking their toll.

Many of MCAN’s broker partners are also fans of the program

White says he would love to see more brokers take advantage of the product. “It is an obtainable status to achieve,” he says. “And we do have such a good alternative program in general.” While giving back is important, the program also helps to drive referrals back to those brokers through goodwill and positive word of mouth, and on social media. “We’re trying to drive more business back to the broker, through giving back to the community,” White says. For Mercer, the connection between people, purpose and performance is at the program’s core. “We always want to reward our partners – we just do it in a unique way that goes beyond straight-up payments or points,” she says. “The program connects and highlights the stories of real Canadians and celebrates this industry for the amazing community it is.”

Brokers benefit from ICON, too

Total # of brokers who have awarded clients cheques

MCAN’s ICON, by the numbers

Over Total $ in cheque payments awarded to clients

$180,000

Over Total $ of payments w/ Ryan’s brokers

$70,000

Total # of clients across Canada who received free mortgage payments

Headquarters: Toronto

Businesses: MCAN Home, MCAN Capital, MCAN Wealth

Total assets (as of Dec. 31, 2022): $4.1 billion

Return on shareholders’ equity (2022): 12.47%

Corporate asset growth (2022): 6%

Five-year total shareholder return: 8%

Founded: 1992

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