MuniFin is the only financial institution in Finland specialised in financing the municipal sector and non-profit housing production. MuniFin’s funding is guaranteed by the Municipal Guarantee Board, the members of which include all municipalities in mainland Finland.
The shareholders of MuniFin are Finnish municipalities, Keva and the government of Finland. This ownership structure means that, rather than maximising its profits, MuniFin is tasked with being the best possible financial expert for its customers in an ever-changing world.
In its customer segments, MuniFin is a clear market leader. In practice, the effects of MuniFin’s financing can be seen in the everyday lives of everyone living in Finland: day care centres, schools, healthcare centres, hospitals, sports facilities, municipal infrastructure, rental housing, and housing for people with special needs.
As a credit institution that specialises in the municipal and residential sectors, MuniFin knows the special characteristics, operating environment and the needs of its customers. The objective of MuniFin’s financing operations is to comprehensively help its customers with all their investment and financial needs, including investment planning and identifying investment opportunities, as well as continued assistance throughout the life cycle of their investments.
MuniFin supports Finnish universities and other higher education institutions through donations and competence sharing, especially with regards to municipal sector finances and investments. In 2017, MuniFin and Hanken Svenska handelshögskolan launched a joint study on the impact of MuniFin’s operations on Finnish society and the lives of everyone living in Finland.
Best solutions are generated through cooperation
MuniFin’s customer strategy is based on close cooperation. Maintaining high customer satisfaction at all times is a guiding principle for MuniFin’s operations.
MuniFin shares its competence with its customers and other stakeholders, and develops products and services based on the needs of its customer base. MuniFin’s subsidiary Inspira focuses on providing financial advisory services that are needed to implement demanding financial and ownership arrangements within the public sector.
MuniFin’s role as a social financier is based on a partnership with its customers. Due to its wide social impact, MuniFin is also building partnerships and cooperation with other key stakeholders in a goal-oriented manner. These include the Association of Finnish Local and Regional Authorities, Keva, the Housing Finance and Development Centre of Finland (ARA), the Ministry of the Environment, the State Treasury, the Finnish Environment Institute (SYKE), universities and other higher education institutions, banks, and many others.
In 2017, MuniFin defined its first-ever corporate responsibility strategy. The purpose of the strategy is to ensure responsibility in all MuniFin’s functions and those of its cooperation partners.
MuniFin wants to ensure its customers are able to financially undertake their required investments. This also entails being responsible for ensuring that the customers’ investment decisions are economically viable and sustainable.
Vuosi 2017 CASE
Wellbeing centre in Sodankylä
The wellbeing centre under construction in Sodankylä and due for completion by the end of 2019 will be a one-stop shop, combining the region’s social and healthcare services and most of the municipality’s services into a flexible service chain. The municipality of Sodankylä ended up using a lifecycle model for the centre’s construction, on the recommendation of MuniFin’s subsidiary Inspira. The project is funded on the basis of MuniFin’s real estate leasing.