ReportAlert.info - Vancity Publishes Integrated 2011 Annual Report
The report reflects the company's belief that people and organizations can meet their financial goals without trading off the need for healthy communities
(3BL Media) May 14, 2012 - Vancity’s 2011 Annual Report—Good Money is Changing How We See Wealth—reflects Vancity’s belief that people and organizations can meet their financial goals without trading off the need for healthy communities. This is Vancity’s second fully integrated annual report. It’s available here.
The report provides an overview of Vancity’s business, a summary of strategic risks and opportunities, progress made on 28 targets and commitments, and links to stories that illustrate the positive community impact Vancity helps create through its interactions with members. Key results for 2011 include:
• Exceeding its target of $235 million in new impact loans by $126 million. Impact loans are loans with demonstrable positive community impact.
• Being the largest organization in Canada to adopt a living wage policy.
• Increasing its employee engagement score by 10 per cent to 71 per cent, four per cent lower than its target.
• Remaining carbon neutral and setting a more aggressive greenhouse gas reduction target to stretch it to look for innovative ways to reduce emissions, which increased by 10 per cent.
• Successfully transitioning its financial reporting to International Financial Reporting Standards. Financial results remained strong, exceeding its targets.
• Allocating $27.2 million of profits to share with members and communities.
Vancity is recognized as an international leader in reporting. It adheres to the AA1000 principles of inclusivity, materiality and responsiveness and participates in the International Integrated Reporting Council’s Pilot Program to develop a framework for integrated reporting. Its 2011 Annual Report was externally verified and prepared in accordance with the Global Reporting Initiative's Sustainability Reporting Guidelines to application level A+.
The online annual report is available as a PDF download or onscreen flipbook. A limited number of printed copies is available in Vancity branches. To provide feedback on the report, email accountability@vancity.com.
About Vancity
Vancity is Canada’s largest credit union with $16.1 billion in assets, more than 479,500 members and 59 branches. It’s a member of the Global Alliance for Banking on Values and has a bold vision to redefine wealth.
