Vancity is a co-operative
A co-operative is a jointly owned and democratically controlled enterprise that supports the common economic, social, and cultural needs of its members.
Vancity is a financial services co-operative, owned by our 519,736 members and democratically controlled on the basis of one member, one vote. We provide those members with a range of financial products and services to help them meet their financial goals and build their personal wealth. We also strengthen our community by turning our members’ deposits into millions of dollars of credit, shared profits, and community investments to support local economic, social and environmental initiatives.
Co-operatives are different
Co-operatives differ from other businesses in some important ways:
- They are values-driven businesses
- They have social and economic objectives that put profits at the service of people
- They are owned and controlled by their members
- They create jobs and wealth that stay in the local community
- They are guided globally by seven co-operative principles.
How we support co-operatives
One of our principles is “co-operation among co-operatives.” It means that we are committed to working with other co-operatives to strengthen the co-operative movement. As a financial services co-operative, we play a unique role in supporting other co-operatives and the co-operative economy as a whole.