Meet the board.

Download reports.

• Annual Report
• CEO compensation
• Director attendance
• Director professional development
• Director remuneration and expenses
• Share disclosure

Our Board of Directors also present reports an decisions at our Annual General Meeting.

Good Governance in practice.

The most effective Board relies on its Directors to:

• Understand their own roles and legal obligations
• Be able to share in, and continue to progress, Vancity’s vision, values and commitments
• Acknowledge that they are accountable to Vancity’s diverse membership
• Not all directors will have the attributes and experience necessary to be fully effective at the beginning of their terms, so it’s important to provide them with the tools and education they may need to do their best work.

Prior to election.

Clear guidance regarding the attributes and experience required in a director is shared with potential candidates to help them best frame their experience and knowledge so they can demonstrate how they will contribute to the Board, if elected by members.

• Desired Director Attributes and Experience
• BCFSA Governance Guideline
• Related Party Transactions and Conflicts of Interest Policy
• Directors’ Code of Conduct Policy

At the beginning of their term.

A director must adhere to professional standards as established under the Vancity Rules and legislation.

New directors participate in a structured orientation program that introduces them to the credit union’s business, culture and their role as Vancity directors.

Terms of Reference provide further context to directors and the Board with regard to their roles and responsibilities.

• The Board of Directors
• The Board Chair
• The Board Vice Chair
• The Committee Chair and Committee Vice Chair
• A Board Director
• Audit Committee
• Technology Committee
• Governance Committee
• Equity and People Committee
• Nominations and Election Committee
• Risk Committee

Professional development throughout their tenure.

If Vancity is to continue its success as a market leader, it is important for its directors to understand the numerous issues that affect Vancity’s day-to-day business, the credit union and co-operative systems, and the financial industry as a whole.

All directors are therefore required by law to complete Level A of the Credit Union Directors’ Achievement (CUDA) Program. Directors are also provided with an annual allowance of $5,000 towards registration fees for conferences or professional development courses related to their duties as a Vancity director. Other educational opportunities may arise from a director’s participation at both board and committee level, depending on emerging business issues.

Commitment to Vancity’s success.

Good governance doesn’t just depend on the professional development of individual directors. The Board too demonstrates its commitment to Vancity’s success by regularly monitoring and evaluating its own role, composition and performance, as well as that of its committees.

BC Financial Services Authority.

The BC Financial Services Authority (BCFSA) released its Governance Guidelines Services to all credit unions in BC.

Read the Guideline