As a financial co-operative, Vancity Credit Union’s business model focuses more on meeting the long-term needs of members and their communities than short-term profits.
This includes the environment.
A series of “green initiatives” have shown the company’s determination to turn itself into a green business.
“(Going green) is one of our biggest things,” said Angela Lam, community branch manager of Vancity Blundell Centre Branch.
“We give special car loans at a lower price to staff members who purchase eco-friendly vehicles, such as electronic cars and low-carbon ones.”
The company also subsidizes bus passes for employees.
“And we have a big incentive that the company gives a rebate for staff who purchase a bike for work purposes,” added Lam.
The company has also been pushing a transition to all members from traditional bank statements to electronic ones. And it achieved zero-waste in every single branch in 2015, according to Lam, which means no waste is discharged to the landfill.
“Vancity is a financial service provider with a triple bottom line: people, planet, not just profit. We work hard for financial inclusion, social justice and environmental sustainability. This is what we choose to do.”
Each year, the credit union shares 30 per cent of their net income with members and communities.
It also provides services to people whose needs are not being met by other financial institutions, supports businesses with ideas that would not otherwise be able to get funding and works creatively with the social enterprise and not-for-profit sectors.
