A transformed economy that protects the earth and guarantees equity for all: that’s the North-Star vision towards which your Board is steering Vancity.
And in a year marked by devastating weather events and deepening economic, social, and political cleavages, the Board remains committed to realizing this vision.
The Board’s governance function has particular importance in times of uncertainty. Vancity’s commitment to Reconciliation, justice and equity, and to systemic change provides both an anchor and direction. How Vancity, as your trusted financial institution, works on your behalf – to steward our collective assets, tackle the affordability crisis, and support your needs for sustainable livelihoods and communities – is our key focus.
Vancity’s strategy has centred on offering you the best possible financial advice so you can better navigate the sudden increase in basic living costs as well as the challenges we’re seeing in investment markets. In 2022, we brought on more financial advisors to help members with critical financial decisions.
Vancity also continued to work closely with the local businesses at the heart of our communities. Sixty-eight per cent of our procurement spending – about $88 million – went to local businesses. We offer financing to help business members reduce their emissions through building retrofits, equipment purchases, clean transportation, and other energy-saving products and technologies. And we are extending our partnership with the Green Business BC certification program, an initiative that certifies and promotes business members that meet environmental standards. We are subsidizing our members’ costs of certification, and helping the program expand from Vancouver Island across the province.