Community Investment Note®

Everyone can invest to create opportunity.

  • Fixed-income security available now online and in brokerage accounts with CUSIPS, starting at $20
  • Finances solutions that address climate change and inequality across the US and around the world.
  • 30-year track record of 100% repayment principal and interest since 1995

How to Invest

Fund Documents

Community Investment Note®

Portfolio and Strategy

Explore the portfolio

Community Investment Note® proceeds are invested across nine impact sectors throughout the US and in more than 100 countries to address climate change and improve access to quality affordable housing, healthcare, education, wealth building opportunities, and more.


Community Investment Note portfolio

Rigorous risk management

Our team of investment professionals employ rigorous credit and impact risk management practices to manage the portfolio. Since 1995, more than 20,000 investors have cumulatively invested more than $3 billion while receiving 100% repayment of all principal and interest.


Portfolio Management Guide

Accessible to all

For as little as $20, you can invest in big change. The Note is widely available to US retail and institutional investors through three different purchase channels online (min. $20), brokerage (min. $1000), and direct (min, $20). Learn more about how to invest below.


How to Invest

Product Characteristics

Issuer

Calvert Impact Capital

Asset Class

Fixed Income

Inception

1995

Note Balance*

$588 million

Financial Return

3.00% for 1 year, 3.5% for 3 years, 4.5% for 5 years

Impact

Measured consistently and reported through annual Impact Report, quarterly reports, and monthly e-newsletter

Performance**

100% repayment of principal and interest since inception

Fees

None; investor dollars are not used to pay sales commissions, existing debt, or any other Calvert Impact Capital expenses

* As of Q3 2025
** Calvert Impact Capital, Inc., a 501(c)(3) nonprofit and a subsidiary of Calvert Impact, Inc., offers the Community Investment Note®. The Community Investment Note® is subject to certain risks, is not a mutual fund, and is not FDIC or SIPC insured. Past performance is no guarantee of future results. This is not an offer or solicitation to buy our securities, the offering is made solely by the applicable prospectus (including any applicable prospectus supplement and pricing supplement), and any decision to invest should only be made after reading these documents which detail the terms, conditions, and risks the Community Investment Note® is subject to, including risk of possible loss of the amount invested. Payment is dependent on Calvert Impact Capital’s financial condition at the time payment is due. The Community Investment Note® is not registered with the SEC, is only offered and sold in states where authorized, and may be subject to specific state eligibility requirements.

Impact

Resilient Communities, Lasting Impact

Resilient Communities, Lasting Impact

The 2025 Community Investment Note Impact Report explores how resilience—of our partners, our capital, and our approach—is essential to building a more inclusive and sustainable financial system. The report's highlights include stories from our partners' work on the ground; a timeline of the Note's milestones over the last 30 years; testimonials from our investors, partners, and staff; and more. Select metrics from our 2025 report:

198 mil
end clients served
1.4 mil
jobs created or retained
8.8 mil
small businesses financed
22.5 mil
people with improved access to clean energy
52%
of end clients are women
14,709
affordable homes created or preserved

How to Invest

Online

$20 minimum

→

Mail

$20 minimum

→

Brokerage

$1000 minimum

→

Online

Our online investment platform makes it quick and easy for individuals to invest in our Community Investment Note®. You’ll be walked through the following steps:

  1. Registering your email and password
  2. Creating your individual account
  3. Linking your bank account
  4. Purchasing your Note

Once your Note has been purchased, you can manage your investment, set impact and communication preferences, and access monthly statements, reports, and more through our online investment platform. In order to get started, please create your account through our secure online platform:

Invest Online Now

Direct mail investment

Invest easily by mail and check

The Community Investment Note® can be purchased by mailing a completed application and a check for $20.00 or more to our address:

Calvert Impact Capital 7550 Wisconsin Avenue, 8th Floor Bethesda, Maryland 20814

The application will be processed as soon as it is received, typically within 5-10 business days after it was mailed. You will receive a confirmation once your account has been set up, immediately by email or in the following days if by postal mail (depending on the communication preference you select). You will also be able to access your account, monthly statements, and more online.

To invest by mail, complete the application form:

Application

Brokerage investment

Step 1: Pick an offering

Current Brokerage Offerings:

See our current offerings below. Provide the corresponding CUSIP number to your brokerage's fixed income desk to purchase the Note. This table is updated twice a month with current CUSIP numbers. Orders must be placed before these CUSIPs trade at Noon EST on: 12/31/2025

CUSIP TERM RATE MATURITY
13162ETF3 1 Year 3.00% 12/31/26
13162ETG1 3 Year 3.50% 12/29/28
13162ETH9 5 Year 4.50% 12/31/30

Pricing Supplement

Prospectus

Need help? Call 800-248-0337 to speak with someone on our Investor Relations team or email us at info@calvertimpact.org

Step 2: Register your Note

After purchasing a Community Investment Note® through your brokerage firm, you will see it in your brokerage account. Because we do not receive any investor or advisor information from your brokerage firm, you will not receive social impact reporting unless you register your Note. Complete the form below to register your Note and to receive our annual Impact Report. If you have any questions, please call us at 800-248-0337.

Register

Investor Information

Advisor Information (if applicable)

Investment Information

Impact Preferences (optional)

Have Questions?

Get in touch with us

Calvert Impact Investor Relations
800-248-0337
info@calvertimpact.org

Check out our FAQs

Community Investment Note FAQs

Get Our Monthly Impact Updates


7550 Wisconsin Avenue 8th Floor Bethesda, Maryland 20814

Phone: 800-248-0337
Fax: 301-576-8444
info@calvertimpact.org
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Calvert Impact Capital, Inc., a 501(c)(3) nonprofit and a subsidiary of Calvert Impact, Inc., offers the Community Investment Note. Calvert Impact Climate, Inc., a 501(c)(3) nonprofit and a subsidiary of Calvert Impact, Inc., offers the Cut Carbon Note. The Community Investment Note and Cut Carbon Note are subject to certain risks, are not mutual funds, are not FDIC or SIPC insured, and should not be confused with any Calvert Research and Management-sponsored investment product. The Community Investment Notes and the Cut Carbon Notes are debt securities subject to the terms, conditions and risks described in the current prospectus, prospectus supplement(s) and pricing supplements, as applicable, including risk of possible loss of the amount invested. Payment is dependent on the issuer’s financial condition at the time payment is due. Any decision to invest in these securities through this Site should only be made after reading the applicable prospectus, prospectus supplement(s) and pricing supplement or by calling 800-248-0337.

This is not an offer to sell you our securities and we are not soliciting you to buy our securities. The offering is made solely by the Prospectus. We will offer and sell our securities only in states where authorized.

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