Vancity Delivers Second Fully Integrated Annual Report

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Vancity Delivers Second Fully Integrated Annual Report

Financial and accountability results told with stories about members
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.@Vancity credit union issues 2011 Annual Report - Good Money is Changing How We See Wealth
Wednesday, May 9, 2012 - 4:00pm

CONTENT: Press Release

(3BL Media) Vancouver, BC - May 9, 2012 - Vancity’s 2011 Annual Report, entitled Good Money is Changing How We See Wealth, reflects the credit union’s belief that people can meet their own financial goals without trading off their need for healthy communities. Stories about members have been included in the report to show the scope of the financial, social and environmental impact Vancity helps create through its members’ deposits.

Vancity’s 2011 Annual Report, along with links to 14 members stories and a video about Vancity member Save-on-Meats, is available at The online annual report is available as a PDF download (viewable on any device including mobile that supports PDF), as well as an onscreen flipbook viewable on desktop, iPhones, iPads, some Kobo readers, and on any mobile device that supports standards-compliant web browsing. A limited number of printed copies is available in Vancity branches.

This is Vancity’s second fully integrated annual report—previously it produced a separate Accountability Report every two years. Vancity’s reports follow the AA1000 principles of stakeholder inclusivity, materiality and responsiveness. The 2011 Annual Report was externally verified and was prepared by management in accordance with the Global Reporting Initiative's voluntary sustainability reporting content standard to application level A+.

Vancity is involved in the International Integrated Reporting Council’s Pilot Program to develop a framework for integrated reporting. The credit union is often recognized for its high standard of reporting and is an international leader in this area. Its 2010 Annual Report received recognition from one of the most informed global stakeholder audiences when it placed in the top three for Best Integrated Report at the Corporate Register Reporting Awards 2012. Vancity’s 2010 Annual Report was also a finalist for Best Integrated Report in the 2012 Social Innovation Awards, which recognize companies that have implemented groundbreaking strategies and programs that drive social and environmental responsibility and innovation.


About Vancity
At Vancity we make you good money by putting money to good. Vancity’s vision of redefining wealth incorporates personal and community well-being. Vancity has distributed $221 million to members through dividends and to communities through grants and community investment initiatives since 1994. We are a member of the Global Alliance for Banking on Values—a network of the world’s leading sustainable banks sharing the commitment to achieving triple-bottom-line impact through responsible banking practices. A Living Wage employer, Vancity is Canada’s largest community credit union, with $16.1 billion in assets, more than 479,528 members and 59 branches throughout Metro Vancouver, the Fraser Valley, Victoria and Squamish.


Excerpts from Vancity’s 2011 Annual Report

pg 42: Community investment lending

Vancity’s community investment loan portfolio totalled $3.5 billion in 2011 compared to $3.1 billion in 2010. Vancity focused on increasing the proportion of its lending and investments with demonstrable positive community impact and in 2011 exceeded its target of $235 million in new impact loans by $126 million.

pg 56: Employee engagement

Vancity’s employee engagement score was 71 per cent, four per cent lower than its target. This score increased 10 per cent between 2010 and 2011.

pg 60: Living Wage Employer

Vancity is the largest organization in Canada to adopt a living wage policy. By the end of 2011, the credit union had committed to ensuring all employees would be paid a living wage, and to developing a framework for relevant contractors. This target wasn’t met: Vancity designed a framework for relevant contractors (suppliers) and approximately 98 per cent of employees are being paid a living wage. In 2012, Vancity plans to ensure it pays all employees a living wage, and will develop language for use in relevant requests for proposal and supplier contracts. The credit union is working toward its goal of meeting Living Wage Employer requirements by May 2013.

pg 62: Greenhouse gas emissions

Vancity generated 5,253 tonnes of greenhouse gases in 2011, equivalent to the amount of energy 1,050 passenger cars need to run for one year. Since 2007 emissions have remained relatively stable, but they increased by 10 per cent in 2011 compared to 2010. With the purchase of carbon offsets, the credit union remains carbon neutral.

pg 67: Shared Success

This year Vancity will share $27.2 million of its profits with members through dividends and with communities through grants and community investment initiatives. Since 1994, Vancity has distributed more than $221.2 million through Shared Success.

pg 78: Future plans and outlook

To fulfill its vision of truly redefining wealth, Vancity will need to demonstrate three key outcomes:

  • It is achieving the impact its vision calls for
  • Its stakeholders have confidence that redefining wealth is a viable way of doing business
  • It is doing business with integrity—thus continuing to build trust with its members


Lorraine Wilson
+1 (778) 837-0394
Keywords: Reports | CSR Report | Corporate Social Responsibility | Reporting | Vancity | annual report | credit union | sustainability

CONTENT: Press Release