Published 05-15-19
Issued by Vancity
A financial institution that only makes money by moving it around achieves very little of value beyond generating profits. Vancity is different. With its values-based banking model, Vancity is perfectly placed to support its members through uncertain times. Canada’s largest community credit union’s ninth integrated annual report, Navigating change, building community – explains how. It can be viewed at annualreport.vancity.com.
May 15, 2019 - A financial institution that only makes money by moving it around achieves very little of value beyond generating profits. Vancity is different. With its values-based banking model, Vancity is perfectly placed to support its members through uncertain times. Canada’s largest community credit union’s ninth integrated annual report, Navigating change, building community – explains how. It can be viewed at annualreport.vancity.com.
The annual report transparently outlines progress against key organizational targets and commitments. It showcases how Vancity creates value with stories about issues including Indigenous entrepreneurs, saving a local cultural icon and new ways to increase affordable housing.
The report also provides examples of challenges that Vancity faced in 2018. Vancity’s operating region is a pretty great place to live by most people’s estimation. The problem is that too many people cannot afford to live there, and the report explores how Vancity is tackling the challenge of improving the situation. It also outlines how the credit union reconciles making money with what’s best for its individual members. Finally, the report covers Vancity’s efforts to support self-employed workers who lack access to employee benefits.
Highlights in the 2018 report include:
Vancity’s values-based banking model is aligned with the United Nations’ Sustainable Development Goals. This year Vancity has mapped its assets against each of the goals and highlights throughout the report how Vancity’s work supports them.
Vancity continues to seek out and encourage best practices in reporting. Vancity prepared the report in accordance with the International Integrated Reporting Framework and the Global Reporting Initiative Sustainability Reporting Standards, Core option. Its adherence to the AA1000 principles and key data in the report was externally assured.
About Vancity
Vancity is a values-based financial co-operative serving the needs of its more than 534,000 member-owners and their communities in the unceded territories of the Coast Salish and Kwakwaka’wakw people, with 59 branches in Metro Vancouver, the Fraser Valley, Victoria, Squamish and Alert Bay.
As Canada’s largest community credit union, Vancity uses its $27.4 billion in assets and assets under administration to help improve the financial well-being of its members, while at the same time helping to develop healthy communities that are socially, economically and environmentally sustainable.
Vancity is carbon neutral, a living wage employer and a member of the Global Alliance for Banking on Values.
Media Contact Information:
T: +1 778 837-0394, mediarelations@vancity.com