Published 7 years ago.
About a 1 minute read.
Vancity’s 2015 Annual Report, Strong foundations for a sustainable future, documents the credit union’s sound financial position and unique relationships with local communities. The integrated annual report can be viewed at annualreport.vancity.com.
Drawing on the priorities outlined in Vancity’s 2020 Plan, the report includes stories that illustrate how Canada’s largest community credit union is building healthy communities and making a positive impact on people’s lives. It transparently reports progress against key organizational targets and commitments.
The report also provides examples of challenges and dilemmas that Vancity faced in 2015 as a values-based financial institution. These include the credit union’s perspective on shelter-rate housing, work to diversify balance sheets and the challenges posed by new technology in the financial sector.
Assets grew to $19.8 billion from $18.6 billion
Member deposits allowed Vancity to make $576.9 million of community impact loans for areas such as affordable housing, green buildings and Aboriginal communities
Vancity’s Fair & Fast LoanTM, a payday loan alternative, has saved members an estimated $3.9 million in fees and interest since 2014
Together with community partners, Vancity assisted 14,688 people with financial literacy
Vancity distributed 30 per cent of net earnings ($19.5 million) to members and communities
Fifty of Vancity’s 59 branches are net zero waste, up from 15 in 2014
The report was externally assured, adheres to the AA1000 principles, and was prepared in accordance with the Global Reporting Initiative's G4 Sustainability Reporting Guidelines, Core. It was influenced by the International Integrated Reporting Framework.
Published May 18, 2016 12pm EDT / 9am PDT / 5pm BST / 6pm CEST