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Statement re BC General Employees' Union Inaccurate Claims about Vancity.

Sunday, June 16, 2024 Territories of Musqueam, Squamish and Tsleil-Waututh Nations/Vancouver B.C. - Vancity issued the following statement addressing the inaccurate claims made by BCGEU regarding the communication process with unionized employees about the recent restructuring.

On Thursday, June 13, 2024, Vancity notified the BC General Employees’ Union (BCGEU) of plans to restructure. As required by the BC Labour Relations Code and the Collective Agreement between Vancity and BCGEU, the Union was provided with formal 60-days’ notice of the change. Every affected employee who is a member of the BCGEU (30 people) was provided 60-days working notice.

Vancity is meeting all of the requirements under employment standards and labour laws regarding layoffs. Vancity is also providing extended benefit and career support services to affected employees. Additionally, Vancity is maintaining employee discount rates on mortgages and loans until the end of the product terms and extending account savings perks until the end of 2024.

Vancity made the difficult decision to lay off 182 employees from various departments across the organization for two reasons:

  • To align Vancity's business with current market conditions
  • To support a future-focused renewal of our commitment to members and community

Read more details on these changes and how affected employees are being supported.

These changes do not affect member services, and no Vancity branches are closing.

About Vancity

Vancity is a values-based financial co-operative serving the needs of its more than 560,000 member owners and their communities, with offices and more than 50 branches located in Metro Vancouver, the Fraser Valley, Victoria, Squamish and Alert Bay, within the territories of the Coast Salish and Kwakwaka'wakw people. With $34 billion in assets plus assets under administration, Vancity is Canada's largest community credit union. Vancity uses its assets to help improve the financial well-being of its members while at the same time helping to develop healthy communities that are socially, economically and environmentally sustainable.

For more information:

Media Relations | Vancity
T: 778-837-0394