Vancity credit union has released its 2025 financial results, demonstrating strong profitability and a record CA$41bn in assets plus assets under administration.
Canada’s largest British Columbia-based financial institution, Vancity highlighted its “momentum and a focus on continued impact, growth and member experience” as it posted $69.9m in net income in 2025, a dramatic improvement in performance from 2024’s modest profit of $5.8m.
In 2025, core revenue was $675.4m – up more than 30% from 2024 – which the credit union says reflects strong demand for its “values-based products and services across its consumer, wealth and business banking portfolios”.
Net lending growth of almost $1bn underscores this demand for innovative financing solutions, it added – and has secured Vancity’s position as the largest credit union by assets in Canada.
Member deposits also grew by almost $800m, “reflecting continued confidence in Vancity and its mission to deliver banking differently and grow its contributions and grants to supporting the communities it serves”.
CEO Wellington Holbrook (pictured) added: “Vancity is growing again in all parts of our business at a time when the economy has been going through some challenges. This is a reflection of our business strategy and focus on improving the member experience to make Vancity a competitive financial institution again.
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“As a result, members are placing their trust in us, and we strengthened our core business, delivering meaningful growth. We continue to prove that it’s possible to thrive and grow as a values-centred financial institution.”
Vancity added that is the only financial institution in Canada that redirects 30% of its annual net income back to its communities and members. Based on the organisation’s 2025 performance, Vancity is distributing $21m towards community initiatives and grants to advance affordable housing, equity and reconciliation, climate action, and co-ops and local economies.
The credit union said it is also introducing new products and services “designed for real life and to empower people generally underserved by Canada’s banking system”.
“We believe Vancity needs to play an even bigger role in the economy,” said Holbrook, “by bringing forward values-based banking options at a time when so many other financial institutions are retreating from important areas like climate, inclusion, small business, and more.”
Looking ahead, Vancity said it is investing in its operations to improve services and drive growth. Spending on technology, including the recent rollout of new digital banking experiences, has substantially increased, with Vancity now ranking among the largest British Columbia-based purchasers of technology, while also delivering more in-person service and expert advice.
At a time when many financial institutions are closing branches, Vancity added that it is growing its community presence and opening three new member-focused locations this year.
“We’re excited about what’s ahead,” Holbrook added. “As Vancity celebrates 80 years of serving members this year, we’re investing ambitiously to create the Vancity people will want to bank with for the next 80 years.”
The credit union has also been named one of Canada’s Top Family-Friendly Employers and a Top Employer for Canadians Over 40 for 2026.
“These awards are recognition of our people and our purpose,” said chief people officer Supriya James. “By delivering banking differently, we create opportunities for employees to work on industry-leading projects and deliver products and services that other financial institutions can’t or won’t offer. Our culture of innovation, and our people programs and benefits, support our team as they pursue our mission and grow alongside a growing organisation.”
