Vancity releases six-month update to business plan
Vancity will use 2017 to continue to create and sustain communities built on financial inclusion, social equity, and environmental sustainability
March 27, 2017— British Columbia’s real economy will be front and centre as Vancity looks to the future to meet the emerging needs of its members and communities, Vancity announced today, with the release of a brief plan that captures the credit’s union progress on goals set in 2016 and points ahead toward 2020.
The year that was: laying the groundwork is a brief plan that covers the first six months of 2017 and sets the foundation for a refreshed 2020-2017 Business Plan Vancity will deliver to its Board of Directors in June.
The uncertainty created by today’s shifting geo-political and economic environments reinforces the relevance of the issues Vancity is striving to address: creating and sustaining communities built on financial inclusion, social equity, and environmental sustainability.
The year that was: laying the groundwork captures how Vancity will engage its employees and its members with refreshed technology and revitalized internal processes to advance meaningful impact in Canada’s financial services sector.
By 2020, Vancity envisions:
- Total assets growing to $40 billion from $25.6 billion
- 50% of total assets allocated to impact
- Membership growth from 523,000 members today to 600,000 members
As a leading values-based financial institution, Vancity robustly embraces innovative approaches to best respond to economic considerations that impact and influence not just its members’ lives, but the lives of others, on a local, national or global scale.
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About Vancity
Vancity is a values-based financial co-operative serving the needs of its more than 523,000 member-owners and their communities in the Coast Salish and Kwakwaka’wakw territories, with 59 branches in Metro Vancouver, the Fraser Valley, Victoria, Squamish and Alert Bay. With $25.6 billion in assets and assets under administration, Vancity is Canada’s largest community credit union. Vancity uses its assets to help improve the financial well-being of its members while at the same time helping to develop healthy communities that are socially, economically and environmentally sustainable.
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For more information:
Brent Shearer | Vancity
T: 778-837-0394
mediarelations@vancity.com