Canada Life gives $500K to London's homeless plan

Canada Life is making a $500,000 donation to combat London's homelessness crisis.

The London-based insurer, IG Wealth Management and Power Corp. of Canada made the donation to the Fund for Change, the fundraising committee headed by Jeff Macoun, former president of the insurance, wealth management and health benefits firm.

The fund supports solutions to address London's homeless crisis and has set a fundraising goal of at least $5 million to boost a $25-million private donation to the Whole of Community Response to Homelessness.

“The Fund for Change is an incredibly important initiative for London that we're pleased to support,” Paul Mahon, president of Canada Life parent Greatwest Lifeco, said in a statement Monday.

Canada Life's donation honours Macoun, whose retirement was announced this year after 40 years with the company.

“Jeff 's commitment to the community has been a cornerstone of his personal values and a hallmark of his leadership at Canada Life,” Mahon said. “With his upcoming retirement, there is no more fitting tribute to his legacy than an investment in a community initiative he is passionately championing.”

Canada Life encouraged others to contribute to the Fund for Change, which has raised $4.1 million, through the London Community Foundation.

“London Community Foundation is honoured to accept this generous contribution to the Health & Homelessness Fund for Change in recognition of Jeff Macoun's tremendous tenure at Canada Life,” foundation philanthropy director Diane Silva said in a statement.

“Jeff selflessly stepped in at a critical time in our fundraising and rallied Londoners from all walks of life to support the vital cause of ending the health and homelessness crisis.”