ReportAlert.info - Vancity publishes integrated 2010 Annual Report
The report is structured around the Company's business model, & highlights the key ways the credit union earns revenue & operates its business
(3BL Media / theCSRfeed) May 18, 2011 - Vancity is a member-owned, community-based credit union seeking to develop member and community value through everything it does. For the first time, Vancity has brought its award-winning annual and accountability reports together in one document. Read Vancity’s integrated 2010 Annual Report at: http://www.reportalert.info/ra/profiles/Vancity/2011/?ID=38224
The report is structured around Vancity’s sustainable business model, and highlights the key ways Vancity earns revenue and operates its business in service of its members and communities. It includes progress on sustainability goals and lists 28 future targets and commitments.
Performance highlights include:
- New community investment loan programs to help organizations achieve positive social, environmental and social impacts in underserved areas
- Advocacy for socially responsible investing (SRI) options: 31 per cent of net investment sales were in SRI options
- Significantly improved employee engagement score, though lower than its 75 per cent goal
- Commitment to become a 'Living Wage Employer'
- Nine per cent reduction in GHG emissions since 2007
- Best financial results in Vancity's 64-year history and a third consecutive year of increased earnings
- Allocation of $23.5 million (the most ever) to members through dividends and to communities through grants.
The report was prepared by management using AccountAbility’s AA1000APS principles of inclusivity, materiality and responsiveness, and the Global Reporting Initiative G3 Guidelines to application level A+. The report includes an independent Assurance Statement from Ernst & Young and Auditor's Report from KPMG. Vancity welcomes feedback on the report at accountability@vancity.com
Vancity is a member of the Global Alliance for Banking on Values, an independent network of financial institutions that focus on doing business in support of people and the economy. Vancity is Canada’s largest credit union, with $14.5 billion in assets, more than 417,000 members and 59 branches. For more information, visit www.vancity.com
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