Vancity’s third quarter results show sustained strength, transformation gaining momentum

Article content

TERRITORIES OF MUSQUEAM, SQUAMISH AND TSLEIL-WAUTUTH NATIONS and VANCOUVER, British Columbia, Nov. 03, 2025 (GLOBE NEWSWIRE) — Vancity is reporting continued strong performance at the end of the third quarter that ended on September 30, 2025, highlighting sustained growth for the credit union this year. These results demonstrate the growing success of its transformational strategy focused on deepening community impact and prioritizing the experience of its members.

Article content

Article content

Core revenues jumped to $486.8 million year-to-date, with the third quarter reporting $179.3 million – reflecting continued growth on the second quarter, which reported $157.6 million. Income before tax and distributions reached $83.7 million in the first 9 months, including $37.1 million from the third quarter, illustrating a continued climb from the $25.1 million that was reported in the second quarter of this year. Member deposits grew to $115.3 million on the year, showing continued confidence from members despite a competitive market. A big story is that net lending growth surged to $772.2 million year-to-date—up from $45.1 million at this time last year—reflecting strong demand for Vancity’s values–driven lending across its retail and business portfolios.

Article content

Article content

Article content

“These results show that our transformation is working,” said Wellington Holbrook, President and CEO of Vancity. “We’re strengthening our financial foundation while working to deliver exceptional member experiences. More importantly, our improved financial performance fuels our ability to drive more impact by investing more in areas like climate action, affordable housing and local economies.”

Article content

Article content

Vancity continues to make strides in supporting people and communities across its trade areas, including by expanding fair and equitable access to financial services. In the third quarter alone, Vancity welcomed more than 500 newcomers as Vancity members, extending access to the financial services and supports people need to build a life in their new home. And, in the third quarter of this year, Vancity provided 64 loans through its Foreign Credential Recognition Program, helping internationally trained professionals—doctors, pharmacists, dentists, nurses, accountants, and more—apply their skills and contribute to a more diverse Canadian economy. During the first three quarters of 2025, this program supported almost 200 people to retrain or update their skills, providing over $1.18 million in cumulative financing.

Article content

At a time when other organizations are retreating from their climate commitments—even as climate impacts grow more severe—climate action remains a core value for Vancity. Central to this is the credit union’s commitment to become net-zero across all its mortgages and loans by 2040, and supporting members to reduce their emissions is essential to that goal. So far in 2025, Vancity has engaged in over 10,000 climate conversations—meaningful interactions to support members in reducing emissions from their homes, buildings, and businesses. As a result, Vancity’s Planet-Wise lending suite is showing strong growth: Planet-Wise renovation lending rose to more than 45 loans, representing over $5.5 million in financing and a more than 275% increase from this time last year. And through its Non-Profit Housing Retrofit program, Vancity is providing funding for deep energy retrofit projects with community partners—including the Westerdale Housing Co-operative and Hiy̓ám̓ ta Sḵwx̱wú7mesh Housing Society—to tackle the intertwined housing and climate crisis.