As a financial institution and employer, we’re committed to doing our part in removing barriers that stem from systemic exclusion.
Banking is an essential service.
Easy and affordable access to a basic bank account is critical to economic participation and opportunities.
Banks make decisions every day on who gets a loan and what gets funded.
Access to finance can be a driver of economic equity, or it can be used to limit opportunities. Vancity is focused on increasing economic equity.
Vancity helps with real-life problems by putting people first. This approach helps us understand and address the issues that intersect between equity, financial resilience and systemic challenges. It looks like:
The improvements resulted in more submissions from equity-deserving groups than previous years. And in 2022, at least 37% of grants in 2022 were provided to organizations that are led by or serve Indigenous or Black communities.
Vancity signed the BlackNorth pledge in 2020, which commits us to allocate at least 3.0% of our grants to promote economic opportunities in Black communities.
In 2022, Vancity invested 4.9% ($697,100) of our Shared Success community fund to initiatives that specifically serve Black communities, exceeding the pledge target.
Representation is important and evidence of the equality of opportunities. Having a diverse leadership team results in better informed and inclusive decisions.
By the end of 2025, our Board and senior management will reflect our community diversity where at least 40% identify as Indigenous, Black, people of colour, 2SLGBTQIA+, gender or sexually diverse, and people living with a disability. In 2022, we exceeded these targets:
Vancity’s ongoing objective is to be an inclusive financial institution and workplace where all identities are embraced, all lived experiences are valued and where everyone feels welcome.
The diversity of our workforce is published every year in our accountability statements.
Vancity is the first financial institution in Canada to provide mortgages to women without a male co-signer. At the time, even if a woman had an income, banks deemed it too risky to provide any loans, let alone mortgages, to women.
BC Unity Credit Union (BCUCU), the first credit union to serve the Black community in Vancouver, merges with Vancity.
Vancity offers Canada's first socially responsible mutual fund, the Ethical Growth Fund.
Vancity offers the first Community Investment Deposit in Canada, providing 1% below normal interest rates which is then passed on to finance community projects.
Vancity is the first Canadian financial institution to market to the gay and lesbian community through mainstream advertising.
Vancity receives the Best Practices Award from the American Psychological Association for healthy workplaces—a first for any Canadian company.
Vancity becomes the largest organization in Canada to adopt the Living Wage policy of paying employees and service providers a wage that meets their basic living needs.
Vancity provides a capital grant and pre-development loan to build the Immigrant Services Society of BC (ISSofBC) Welcome Centre, the world's first integrated housing and settlement support services hub for newcomers and refugees.
Vancity joins the 50-30 Challenge, a federal initiative to strengthen diversity in corporate leadership in Canada. We aim to exceed this target by having a senior leadership team where at least 40% identify as BIPOC, LGBTQ2S+ and people living with disabilities by 2025.
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