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Vancity mortgage offer helps its members partner in the fight against climate change

Vancity mortgage offer helps its members partner in the fight against climate change

Vancouver, BC. (April 30, 2013) With spring home-buying underway, Vancity is offering a limited-time rebate of $2,000 to homebuyers who make energy-efficiency upgrades to their houses and bring a new mortgage to or re-advance or refinance an existing mortgage with Vancity.

“We believe Vancity’s Home Energy Rebate reflects shared values between Vancity and our members around environmental sustainability,” says Rick Sielski, chief operating officer of member services at the credit union. “The offer invites members to work together with us to help deal with climate change. Vancity can’t do it alone.”

Sielski says Vancity is committed to including environmental principles in its business operations, including service to its members, as well as showing leadership on the issue in the community. “The home-energy rebate offer is just one example of that commitment,” he says.

To help Vancity administer the Home Energy Rebate offer, FortisBC and Vancity are working together, with Vancity leveraging the FortisBC rebate process. Eligible FortisBC rebates include installing energy-efficient water heaters, fireplaces, furnaces or boilers. A rebate towards the cost of switching from oil-based or propane home heating to natural gas is also eligible.

“This offer is one more way of helping British Columbians save energy and money,” says Sarah Smith, director of energy efficiency and conservation with FortisBC. “For example, customers may see yearly savings on their natural gas bill by upgrading a standard efficiency furnace to a high-efficiency natural gas model or by switching their water heater from a medium sized tank to a tankless heating system.”

The offer applies to qualifying Vancity mortgages signed between May 1 and August 15, 2013. Vancity members must apply for the Vancity rebate within two weeks of signing the mortgage documents, then later show proof of application to and of receipt of the eligible FortisBC rebate before receiving the $2,000 Vancity rebate.

The offer supplements an existing mortgage program in which members and non-members who bring their mortgage to Vancity can save up to $1,500 in legal and appraisal fees, which is available until June 30.

Vancity has a long history of tackling climate change, from becoming the first carbon-neutral financial institution in North America in 2007, to helping raise millions of dollars in grants by cardholders using their Vancity enviro™ Visa.

Vancity is Canada’s largest community credit union, and is committed to putting members first and supporting community initiatives that have social, economical and environmental benefits. Their values-based sustainable banking approach is recognized worldwide as a robust and resilient model with the ability to make an impact for the long term.

About Vancity

Vancity is a values-based financial co-operative serving the needs of its more than 492,000 member-owners and their communities through 57 branches in Metro Vancouver, the Fraser Valley, Victoria and Squamish. As Canada’s largest community credit union, Vancity uses its $17.1 billion in assets to help improve the financial wellbeing of its members while at the same time helping to develop healthy, sustainable communities. Member deposits enable the credit union to loan to other members, businesses and organizations who are creating positive economic, social and environmental impact in their communities. In addition, since 1994, Vancity has given more than $238 million to members through dividends and to communities through grants and community investment initiatives. Vancity is a Living Wage employer and a member of the Global Alliance for Banking on Values, a network of the world’s leading sustainable banks sharing a commitment to achieving triple-bottom-line impact through responsible banking practices.

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