Measuring Employee Engagement We hire the human resource consulting firm Aon Hewitt to administer an annual survey of employee engagement. Employee engagement is the energy or passion employees have for their employer. The survey covers areas such as performance, career opportunities, recognition, resources, senior leadership, compensation and pension, and hiring and promotions.
Financial Services & Capital Support
Member owned (cooperative)
Why we are in business
At Vancity, our vision is to redefine wealth.
Our vision requires us to think differently about wealth—to re-envision prosperity as something we can only achieve if we are surrounded by and connected to a vibrant, healthy community that is sustainable for the long term.
While the traditional banking model focuses on increasing short-term profits for the benefit of shareholders, our vision focuses on meeting the long-term needs of our members and their communities.
Our vision calls on us to measure success in terms of how we contribute to the well-being of our members and their communities—not just financial well-being, but social and environmental well-being as well.
Our goal is to create positive member and community impact through all our operations—from how we make money to how we spend and invest it. We’re committed to finding new and better ways to use all our resources, people and capital to create large-scale positive impacts.
This way of doing business differentiates us from traditional financial institutions. By redefining wealth, we are measuring our success in terms of the health and vitality of the community as a whole.
By holding ourselves to higher standards of innovation, co-operation and accountability, we’re helping to build a wealthier future for all.
How we operate
We strive to operate our business in a way that maximizes benefit to all life impacted, and to share our practices to inspire other companies to do the same.
Onboarding Employees for a Purpose-Driven Career In 2012 we launched a new process to effectively facilitate the transition of new employees to Vancity. This process, which is aligned with industry best practices, was developed with input from employees and leaders across Vancity. We also redesigned our recruitment process to attract diversified employees who are aligned…
Workplace Diversity We want a positive and welcoming work environment that is free from harassment and discrimination, where the individual differences of employees are valued. A workforce that reflects the communities we serve helps us better understand our members and meet their needs. For these reasons, we have an Employee Diversity strategy, supported by a…
A workplace that focuses on creating freedom and minimizing fear by reducing the centralization of power, supports self-management, and encourages radical transparency, inclusion, feedback, and fairness.
Vision Check We launched an employee-led process called V-check (for vision check) to identify systemic contradictions between what we say and what we do. We focused on policies and procedures for lending and account opening for personal members and small-business lending. In most cases, the process identified that contradictions were not an issue but that…
Financial compensation that fairly considers the living expenses of workers, producers, and suppliers, and also fairly rewards all workers, owners and executives who make significant contributions to the company’s success. (profit sharing, employee ownership, etc.)
The Largest Living Wage Employer in Canada On May 24, 2011 we set a precedent and became the largest organization in Canada to become a Living Wage Employer. A living wage is different from a minimum wage, which was $10.25 an hour in BC at the end of 2012. It reflects the hourly rate of…
Demonstrating genuine care for your customers through a graceful purchasing process, extraordinary support, quality guarantees, and other acts of kindness that leave your customers remarking about the experience.
Impact Measurement We realized we required both non-financial and financial measures to demonstrate our impact. We developed 12 impact metrics that align with a set of guiding principles. This has helped us measure the key outcomes our activities have on members and their communities. We track and test these internally and expect the metrics to…
Materiality Assessment The sustainability reporting standards we follow include materiality as a core principle. We consider information to be material if it relates to our significant economic, environmental and social impacts or if it would substantively influence the assessments and decisions of our members or other key stakeholders. Understanding what’s material helps us prioritize what…
Measuring & Improving Well-Being Vancity’s commitment to member and community well-being is highly important in members’ decisions to join us (44%). In 2012 we asked members if they agreed that Vancity’s contribution to the community has had a positive impact on their personal well-being. We set a target range of 47-49% agreement by the end…
Values-Aligned Credit Card Services Aligned with our values based banking philosophy, we’re committing to providing a credit card that’s aligned with values too. We have rewritten the cardholder agreement in clear language along with a ‘must-have’ quick-start guide distributed with every new credit card issued. And to help members not paying off their balance in…
Thriving towards carbon neutrality through energy minimization and monitoring, renewable energy sources, eco-friendly transport, and purchasing carbon credits to offset emissions.
Carbon Neutral since 2008 We’ve been carbon neutral since 2008. Our goal is to measure and reduce our greenhouse gas emissions, then offset emissions through the purchase of carbon offsets from emission-reducing activities that others have undertaken.
Caring for mission-aligned causes by generously sharing business resources such as your products and services, meeting space, excess materials, media exposure, company best practices, and employee time and talent.
Each One, Teach One In 2008 Vancity launched Each One, Teach One workshops to support community organizations working with newcomers, refugees, individuals facing barriers to financial services, and people living on low-incomes. Workshops are available for groups from 10 to 100, day or evening, lasting one hour or a full-day. Topics include taxation and tax…
Flexible, Environmentally Conscious Daycare Budding Children’s Garden and Daycare is Vancouver’s first fully flexible occasional childcare centre, allowing caregivers to book last-minute daycare time online or via a smartphone app, to a maximum of 40 hours per month. Buddings combines convenience and flexibility with an emphasis on sustainability, incorporating environmentally friendly cleansers, organic snacks, low-water-usage…
Our New Branch Design In 2012 we redesigned our South Burnaby and Shaughnessy Station branches to help us be more responsive to these communities and support our business model of member-led innovation. These prototype branches act as community hubs where members can get the financial services and advice they need, while helping us build the…
Serving Individuals Facing Financial Barriers & People Living with Low Incomes Serving Individuals Facing Financial Barriers & People Living with Low Incomes
Serving Individuals Facing Financial Barriers & People Living with Low Incomes Vancity offers a range of products and services for individuals facing financial barriers and people living with low incomes. Many organizations are doing groundbreaking and inspiring work to help individuals in our neighbourhoods to break the cycle of poverty. To support that work, we…
Choosing suppliers, distributors and other partners that share your commitment to creating a better world and adhere to clearly defined social and environmental standards.
Data Bases within the Screening Process For SRI purposes, we make use of Sustainalytics (formerly Michael Jantzi Research Associates), a global leading provider of corporate research on environmental and social issues, for background information on the companies under analysis. Learn more: vcim.ca/philosophy/sri unpri.com—UN Principles for Socially Responsible Investing feelgoodinvesting.com—IA Clarington Inhance SRI Fund Family
Preferred Corporate Attributes VCIM prefers to invest in companies with one or more of the following characteristics: Respect for employees and the community in which it does business. Progressive environmental practices and a commitment to complying with environmental regulations. Adherence to a high level of corporate governance standards. Advocate of progressive human rights practices when…
Shareholder Proxy Voting Policy We use shareholder proxy voting as a valuable tool to influence corporate management regarding the SRI guidelines outlined above. We work in collaboration with Vancouver-based Shareholder Association for Research and Education (“SHARE”) to develop a consistent and comprehensive corporate governance and socially responsible proxy voting process.
Socially Responsible Investing Vancity Investment Management (VCIM) incorporates socially responsible investing (SRI) criteria incorporating Environmental, Social and Governance (ESG) factors as a constraint within the investment process. We are also a signatory to the UN Principles for Responsible Investment. We believe that companies with socially responsible corporate behavior are more likely to achieve superior investment…
What we impact
Westender Best of the City 2017Read More
Westender Best of the City 2017
Vancity was the “runaway” Gold winner in the Best Local Bank/Credit Union category and took Silver for Best Company to Work For.
Canada’s Greenest Employers 2016Read More
Canada’s Greenest Employers 2016
Canada’s Greenest Employers is an editorial competition organized by the Canada’s Top 100 Employers project. This special designation recognizes the employers that lead the nation in creating a culture of environmental awareness in their organizations. These employers have developed exceptional earth-friendly initiatives – and are attracting people to their organizations because of their environmental leadership. This award grew out of two remarkable speeches given by Al Gore and Robert F. Kennedy Jr. at our annual conferences in 2006 and 2007
Corporate Knights Best 50 Corporate Citizens in Canada 2015Read More
Corporate Knights Best 50 Corporate Citizens in Canada 2015
What we look for when hiring
Although diverse in experiences, our employees are united in exhibiting the following behaviors:
- Making a difference.
- Are engaged in building a stronger economy
Creating a sustainable environment and a healthier more vibrant community
- Knowing that their ideas and expertise are contributing to a new financial model that supports social, economic, and environmental prosperity and sustainabilityWe’re always looking for people who are talented, enthusiastic, and motivated to make a difference in the world and provide the best advice and service to our members.
Why you would want to work for our company
Vancity is no ordinary financial institution, and our comprehensive employee rewards and benefits reflect that innovative spirit.
Good Money™ is at the heart of everything we do, motivating us to redefine what success looks like — as employees and as human beings. Our rewards and benefits are designed to help our employees and their families meet challenges and embrace opportunities with confidence at every stage of life. By compensating employees competitively, sharing profits, providing access to excellent health care, and supporting balanced, well-rounded lifestyles, we can help them thrive in every aspect of their lives — now and over the long term.
Careers at Vancity
A career at Vancity puts you at the centre of a values-based financial cooperative in an inclusive work environment. We believe in rewarding innovation, supporting diversity, and making a positive impact—socially, economically, and environmentally. Vancity welcomes applications from all qualified job seekers, and if you are an applicant with a disability, we will work with you to make reasonable workplace accommodations you may need for your best work performance.
If you’re looking for work that offers competitive and flexible rewards and benefits, and a chance to help build a healthier community, we invite you to explore the possibilities.
For the latest available job openings at vancity, see: vancity.com/aboutvancity/careers/
Where to find us
Vancouver, BC, Canada