Celebrating co-operative week in communities throughout British Columbia

Vancity rolls out "Make Good Money" campaign, aligned with choices that change the world, but not your values

October 17, 2011 - Vancouver, BC - This week British Columbians are celebrating co-op week and the co-operative model, which represents all people, regardless of economic class or educational level. Co-operatives know what's best for their members and co-operate with them to meet their needs. In keeping with these values, Vancity has launched a campaign that is game-changing, showing how people can choose to bank by linking their individual wealth with the wealth of their community.

"We can only truly prosper as individuals if we are surrounded by and connected to a vibrant, healthy community that is sustainable for the long term," said Vancity CEO Tamara Vrooman. "We can all shift to an approach to personal finance that is based on making 'good money', which generates not only financial returns individually but also social returns that build wealth, help businesses grow and neighbourhoods prosper."

Through extensive research with agency partner Wasserman + Partners, Vancity discovered people were unaware they could not only make gains on their own financial well being through savvy financial services but their money could be doing good things in the community and building a better world without comprise.

Quote from a Vancity research participant: "I was unaware this connection could even be possible; that Vancity could make my money do more for me by doing good things in my community. Which means I'm even better off. Why wouldn't everyone want to bank this way?"

Vancity Board Chair Virginia Weiler said, "We're a non-traditional financial institution. We do things differently by supporting a movement in which everyone comes together with a vision to make a positive impact in the communities where we live and work, to grow in a way that's sustainable so that everyone benefits."

"It's definitely time to change the way we look at banking and to be more aware of where our money goes and how we spend it. And you can make choices that support socially responsible business while still growing your own wealth," added Vrooman. "Vancity is a profitable organization and our focus on the community doesn't diminish this fact."

There are no shareholders in a co-operative model, only members. Vancity shares 30% of profits annually with members and also gives back to the communities through grants and programs. Since 1994, we have invested over $194 million of our profits.

Top five tips on how to Make Good Money

• Build a Good Money plan. It's simple, by considering the components of your finances such as savings, investments, life insurance and estate planning; you can invest well without comprising your values and do what's good in your world.
• Invest in sustainable wealth products that earn competitive returns while helping to save the planet. Choose from a full range of competitive solutions including socially responsible investments.
• Choose a Visa card that allows you to use your points to build your own wealth while supporting the environment (a minimum of five per cent of Vancity Visa profits are donated to the enviroFund each year—more than $2.7 million has been shared since 1990).
• Open an account that earns you a high interest rate, which allows your money to support people in need in your community.
• Make good returns with your money by making choices that help small businesses to thrive in your community, support affordable housing, social-purpose real estate, local, natural and organic food, the environment and energy efficiency, and social enterprise.