VANCOUVER, B.C. — Vancity Credit Union, Canada’s largest CU, is reporting a sharp increase in profit for 2025, posting net income of $69.9 million, up from $5.8 million a year earlier.
The Vancouver-based lender said it reached a record 41 billion Canadian dollars ($41 billion) in assets and assets under administration, reflecting what it described as strong growth and improving member engagement, Co-op News reported.
Core revenue rose more than 30% year over year to $675.4 million, driven by demand for what Vancity called values-based financial products across its consumer, business and wealth portfolios, according to Co-op News.
The credit union also reported nearly $1 billion in net lending growth and an increase of roughly $800 million in member deposits, developments it said underscore continued trust in its mission and services, Co-op News reported.
‘Reflection of Our Business Strategy’
“Vancity is growing again in all parts of our business at a time when the economy has been going through some challenges,” CEO Wellington Holbrook said, according to Co-op News. “This is a reflection of our business strategy and focus on improving the member experience.”
Vancity said it will distribute $21 million — equal to 30% of its annual net income — toward community initiatives and grants supporting affordable housing, climate action, reconciliation, co-operatives and local economic development, Co-op News reported.
Holbrook said the credit union aims to expand its role in the economy by offering alternatives focused on inclusion, climate and small business support at a time when some financial institutions are pulling back in those areas, according to Co-op News.
Where Vancity is Investing
The credit union also said it is increasing investments in technology and digital banking while expanding its physical presence, including plans to open three new member-focused locations this year, Co-op News reported.
Looking ahead, Vancity said it is focused on continued growth and service improvements as it marks its 80th anniversary. The organization has also been recognized as one of Canada’s top family-friendly employers and a top employer for workers over 40 for 2026, according to Co-op News.
