2018 Annual Report

In 2018, we measured progress on three connected outcomes – impact, confidence and integrity:


The difference we create for our members and their communities because of our vision and values


The evidence that what we are doing is good for the sustainability of our business


How we run our business and demonstrate confidence based on trust

Results for the targets marked with a * directly influenced senior management’s incentive pay and the amount of profit shared with employees. There was a corresponding payout range for each target based on whether we met, exceeded or fell short of the target.

KPMG LLP verifies our 2018 organizational results and commitments (see page 44 of the report). For the full explanation of our performance, please refer to the relevant pages of Section three. For details on methodology and definitions, refer to the consolidated accountability statements and the glossary available online at vancity.com/AnnualReport.

For our 2019 targets, see page 39 of the report.

  • 2018
  • 2017
  • 2016
Target 2018 2017 2016 Progress
*Member experience: satisfaction with overall service delivery is 52% 49% 51%1 43% NOT MET
*Member experience: members who do not report a problem is 85% 76% 85% 76% NOT MET
*Member experience: the likelihood for members to recommend Vancity is 60% 48% 56% 53% NOT MET
*Triple bottom line assets under administration (TBLAA) are 25.5% of assets 25.1% 23.2% 21.1% NOT MET
Contribution to well-being: the degree to which members believe Vancity has had a positive effect on their well-being is in the range of 26–33% 20% 24% 28% NOT MET
*Size of membership is 550,000 534,886 525,506 518,1492 NOT MET
*Return on average members’ equity, after distribution to members and community, is at least 5.6% 6.3% 7.6% 5.5% MET
*Total assets plus assets under administration are $27.5 billion $27.4 $26.4 $25.6 NOT MET
Capital adequacy ratio is at least 13% 14.8% 14.1% 13.4% MET
Net growth funding ratio is at least 80% 52.6% 102.1% 144.8%3 NOT MET
Diversity: employees providing diversity data is at least 80% 80% 27% n/a MET
Reconciliation: employee participation in at least one Reconciliation experience is 75% 80% n/a n/a MET
Reconciliation: employees who self-identify as Indigenous is 2.24% 1.58% 1.12%3 n/a NOT MET
Employee engagement is 66% 69% 58% n/a MET
  1. Data has been restated to align with current-year methodology.
  2. Data has been restated to reflect a change in the definition of a member.
  3. Data prior to 2017 was restated to align with methodology used for internal reporting.