June 4, 2014, Vancouver, B.C. – Vancity, Canada’s largest community credit union, ranked highest of any financial institution and second overall on the list of Canada’s Best 50 Corporate Citizens identified by Corporate Knights.
Organizations were measured on a suite of 12 financially relevant sustainability metrics. Some of the key areas Vancity was recognized for includes its commitment to diversity and the environment. The recognition acknowledges organizations that are raising the bar on corporate sustainability and actively focusing on improving their performance.
Vancity follows a values-based banking model that is redefining wealth in a way that enhances the well-being of its members and builds healthy communities. It was the first Canadian member of the Global Alliance for Banking on Values, an independent network of the world’s most sustainable banking organizations which are working to create a positive, viable alternative in the financial system.
The credit union has a strong representation of women and employees belonging to visible minority groups. In 2013, two-fifths of Vancity employees belonged to a visible minority group and two-thirds were women. At the senior management level, 19 percent of employees belong to a visible minority group and 42 per cent were women. In addition, five out of eight positions on their executive leadership team are women. Vancity was also the first financial institution to lend to women without a male co-signer, first with a female board member and first to market to the gay and lesbian community.
Vancity is also a leader in the area of environmental sustainability. In the past year, the credit union helped some 1,400 organizations in greening their business through grants, advice and workshops and 54% of the $468 million it provided in business loans was directed to supporting environmental sustainability initiatives. Vancity has been carbon neutral since 2007 and offers …