2019 Annual Report

Supporting members and communities in a changing world

We look for opportunities to make good money for our members while also increasing our positive social and environmental impact.

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Stories that inspired us in 2019

Vancity creates real value in our communities by addressing issues like affordable housing, social inclusion and environmental sustainability.

Key results and highlights

Vancity is a co-operative, values-based financial institution that focuses simultaneously on people, planet and prosperity.

People

Our products and services are designed to meet the needs of our members.

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Vancity served 543,621 members

Service delivery: 78% of members rated us 8 or above out of 10

Members benefited from 13 new products and features

Planet

Vancity is a leader among financial institutions in helping to safeguard the planet.

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Total greenhouse gas emissions in 2019 were 3,984 tonnes CO2e and we remained carbon neutral

Vancity Community Investment Bank’s acquisition of CoPower Inc. gave members new green investment options

Vancity signed the United Nations Principles for Responsible Banking

Prosperity

We actively use finance to do good in the world.

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Members and communities to receive 30% of Vancity’s 2019 net income: $18.3 million

Vancity's total assets plus assets under administration are $28.2 billion

27.6% of our assets are specifically allocated towards building healthy communities

Jan O’Brien

We’re looking to deepen and accelerate the shift to our business that will enable us to contribute meaningfully to the enormous challenge of the climate crisis.

Jan O’Brien, Chair, Vancity Board of Directors
Tamara Vrooman

The world has changed dramatically in the last ten years and Vancity has been leading the way when it comes to building a better future.

Tamara Vrooman, President and CEO
Ram Narayanan, Vancity director of digital platform and integration services
Challenge

Open banking and the future of digital financial services

Everywhere you look, disruption is the name of the game in financial services, and it’s here to stay. Products developed by non-bank technology companies are rapidly moving in on the traditional financial services landscape. Against this backdrop, the Government of Canada is considering the merits of open banking (often called consumer-directed finance). What are the risks and opportunities of consumer-directed finance for our members and what do we need to do to get ready?

How we create value

Vision and business model

Vancity’s vision is to redefine wealth. We help members and communities thrive and prosper.

Sustainable Development Goals

The United Nations Sustainable Development Goals (SDGs) aim to end poverty, protect the planet and ensure prosperity for all by 2030.