Vancity publishes 7th integrated Annual Report15/05/2017
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Vancity’s latest integrated Annual Report, Vancity in 2016: building on our values, demonstrates how being firmly rooted in local communities can deliver strong financial returns. It can be viewed at annualreport.vancity.com.
Incorporating Vancity’s support for the United Nations Sustainable Development Goals, the annual report transparently outlines progress against key organizational targets and commitments. It showcases Vancity’s work with stories about issues including affordable housing, financial literacy and support for refugees.
The report also provides examples of challenges that Vancity faced in 2016 as a values-based financial institution: changing technology, responsible lending in a hot housing market and how to help millennials build their wealth.
Highlights in the 2016 report include:
- Vancity’s assets plus assets under administration, which reached $25.6 billion, a 7.1 per cent increase, or $1.7 billion, over 2015
- A new scorecard measure called triple bottom line assets under administration, which shows that 21% of the credit union’s assets are specifically invested in building healthy communities
- Vancity’s allocation of $18.5 million (or 30 per cent of net earnings) to members and communities through the Shared Success program
- Based on readers’ feedback, the report has been shortened to 40 pages and has more graphics, illustrations and pictures than previous reports. It was externally assured, adheres to the AA1000 principles, and was prepared in accordance with the Global Reporting Initiative's G4 Sustainability Reporting Guidelines, Core option, and with the International Integrated Reporting Framework.
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.
As Canada’s largest community credit union, Vancity uses its $25.6 billion in assets and assets under administration 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.
Vancity is carbon neutral, a living wage employer and a member of the Global Alliance for Banking on Values.
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