We write further to our letter dated February 4, 2026, in which we advised you of the December 2025 write-downs in certain underlying funds managed by Capstone Asset Management Inc. (“Capstone”) and the resulting impact on CCMBC Legacy Fund Inc. (“Legacy”).
Since that time, Legacy has continued to actively engage with Capstone and our professional advisors to assess the situation and to develop and implement a plan to address the reduction in net asset value and short-term liquidity. This remains a fluid and evolving matter. We are continuing to monitor developments closely and will provide further updates as appropriate.
Processing of Withdrawal Requests
As noted in our prior correspondence, Legacy continues to accept withdrawal requests.
Account Holders that have submitted a withdrawal request as of March 10, 2026, will receive 100% of their requested amount.
Application of Future Cash Receipts
Legacy anticipates being able to repay all withdrawal requests in full over time; however, the timing of such repayments remains subject to the pace at which cash is received from underlying investments and other sources. As available cash is received — whether from the excess funds that Legacy has invested with Capstone or from other sources — such available cash will be applied toward outstanding withdrawal requests that have not yet been fully satisfied, in an equitable and orderly manner.
To maintain consistency in communication, all questions should be directed to Jason Krueger, CEO (This email address is being protected from spambots. You need JavaScript enabled to view it.).
March 17, 2026 Webinar
We invite Account Holders to join a webinar on March 17, 2026, at 2:00 p.m. CT (12:00 p.m. PT). Account Holders who wish to submit questions in advance may do so by emailing Jason Krueger (This email address is being protected from spambots. You need JavaScript enabled to view it.).
- Zoom link: https://us02web.zoom.us/j/87065796482
March 19, 2026 Town Hall
We invite interested Account Holders to meet on March 19, 2026, at 10:00 a.m. PT in the Fellowship Hall, Clearbrook Mennonite Brethren Church, 2719 Clearbrook Rd., Abbotsford, BC.
Commentary
We wish to express sincere gratitude for the patience, prayers, and many words of encouragement received from investors and ministry partners, and to our employees and board members who work tirelessly as we navigate complex circumstances. Although this is a dynamic situation, we see a path forward and remain confident the Lord will bring further clarity to us in His time. We remain focused on restoring Legacy’s net asset position and maintaining the long-term stability of the organization.
We’re sensitive to your reasons for investing and having accessibility to your investment. Your semi-annual statements will continue to reflect the original value of your investment, as this is money owed to you. The write-downs will be reflected in our financial statements.
We confirm that CCMBC Pension Plan members are not affected in any way by the matters described or referenced above. The pension plan has no exposure to Capstone Asset Management, its funds, or its underlying investments.
On February 4, 2026, we wrote of forming a plan to restore our financial position. Several elements of this plan continue to advance. Between formal communications, Account Holders can expect to receive a timely response to inquiries from the Legacy team. We acknowledge that recent events have reopened wounds that were healing. We are acutely aware of the need for timely and transparent communication.
We exist to provide ministry-focused financial services to facilitate Kingdom Growth. For more than 40 years, investors have funded our church mortgage program, the bedrock of CCMBC’s stewardship ministries and the engine that supports several other services as we “serve the servants”—the workers and churches of CCMBC. Please continue to pray for us as we seek to honour God in every decision and rely upon Him to help us discern the path forward.
Jason Krueger, CFA
CEO, CCMBC Legacy Fund Inc. and CCMBC Investments Ltd.
Cory Regier
Board Chair, CCMBC Legacy Fund Inc. and CCMBC Investments Ltd.
