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Vancity's 2014 Annual Report demonstrates that Good MoneyTM Works
Vancity's 2014 Annual Report demonstrates that Good MoneyTM Works
Published 05-13-15
Issued by Vancouver City Savings Credit Union
Summary
The report documents how the credit union's vision to redefine wealth and its commitment to values-based banking are working.
Report Highlights
Vancity’s 2014 Annual Report, Good MoneyTM Works, documents how the credit union’s vision to redefine wealth and its commitment to values-based banking are working. The report can be viewed at annualreport.vancity.com.
The report was externally assured, adheres to the AA1000 principles, and was prepared in accordance with the Global Reporting Initiative's G4 Sustainability Reporting Guidelines, Core. It was influenced by the International Integrated Reporting Framework.
The report includes stories that illustrate how Vancity is making a positive impact on people’s lives and building healthy communities. It transparently reports progress against key organizational targets and commitments.
The report provides examples of three challenges that Vancity faced in 2014: the payday loan trap, increasing access to home ownership, and measuring its contribution to healthy communities.
The report is available on a microsite that lets readers download it in its entirety, or select the sections relevant to them. It includes links to Vancity’s Three Year Plan and a video of performance highlights.
2014 highlights
- Assets grew to $18.6 billion from $17.5 billion
- Member deposits allowed Vancity to make $378.6 million of community impact loans for areas such as affordable housing, green buildings and Aboriginal communities
- Vancity introduced the Fair & Fast LoanTM, a payday loan alternative that saved members an estimated $1 million in fees and interest
- Together with community partners, Vancity assisted 14,775 people with financial literacy.
- Vancity distributed 30 per cent of net earnings ($16.4 million) to members and communities
About Vancity
As Canada’s largest community credit union, Vancity serves more than 509,000 member-owners and their communities through 58 branches. It is carbon neutral, a living wage employer and a member of the Global Alliance for Banking on Values.
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