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Vancity reports strong Q2 results, early evidence of transformation to Vancity 2.0

Territories of Musqueam, Squamish and Tsleil-Waututh Nations / Vancouver B.C. | July 31, 2025 – Vancity delivered strong financial results at the end of the second quarter that ended on June 30, 2025, highlighting growth across key areas for the credit union. This solid performance reveals wins for a new strategy aimed at growing with impact and delivering exceptional member experience.

Core revenues climbed to $307.5 million by June 30th, representing a 24% increase compared to 2024 and marking continued growth in revenues and profitability in 2025, including $157.6 million added in the second quarter.

Income before tax and distributions grew to $46.6 million year-to-date, with the second quarter contributing $25.1 million. Member deposits increased by $97.8 million—$63.5 million in Q2—with notable growth in both retail and commercial demand deposits. Net retail mortgage lending jumped by $387.2 million since the beginning of the year. With 30% of net profits returning to members and communities, this performance provides more resources to support people in uncertain times.

“Vancity 2.0 is our vision to be an industry leader delivering outstanding member experience, while staying fiercely committed to making a big difference in this world,” said Wellington Holbrook, President and CEO of Vancity. “These results are telling us our strategy is working — we’re restoring profitability after a challenging year in 2024 and building a stronger credit union to be an innovative leader for the future.”

Year-to-date growth in net retail mortgages supported more than 3,000 families and individuals with their home-ownership needs, including 452 loans to help first-time home buyers enter the market. In the first half of this year alone, Vancity financed 900 units of affordable housing—bringing safe, affordable homes to 900 more families.

Reflecting its commitment to a resilient local economy, Vancity provided $689.7 million in financing for local businesses in 2025, as of June 30th. This includes support to 188 women or non-binary small-business owners in Q2 through its women’s entrepreneurship program—with a total of 320 so far this year—offered in partnership with WeBC to ensure fair access and wrap-around supports for underrepresented entrepreneurs.

“For Vancity, results aren’t just about numbers — they’re about people,” Holbrook continued. “Strong financial results mean we can do more — fund more affordable housing, extend more support for the Indigenous economy, drive more community investment, and support entrepreneurs building local businesses that make our economy more resilient.”

This release marks the first time Vancity has published its quarterly results, a practice the credit union will continue as it advances its transformation.

In Q2, Vancity also deepened community connections by sponsoring major events like the Vancouver Sun Run and Vancity Innovation House at Web Summit Vancouver, and participating in local celebrations including Surrey Vaisakhi, Vancouver Vaisakhi, and the Qmunity Pride Breakfast.

Vancity is reinvesting in member experience with a new digital platform expected by year-end, building on 2024 technology enhancements to streamline products, services, and operations for smoother, member-centred experiences.



About Vancity

Vancity is a values-based financial co-operative serving the needs of its 570,000 member-owners and their communities, with offices and more than 50 branches located in Metro Vancouver, the Fraser Valley, Victoria, Squamish and Alert Bay, within the territories of the Coast Salish and Kwakwaka'wakw people. With $35.5 billion in assets plus assets under administration, Vancity is one of Canada's largest credit unions. Vancity uses its assets to help improve the financial well-being of its members while at the same time helping to develop healthy communities that are socially, economically and environmentally sustainable.

Media Relations | Vancity
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T: 778-837-0394


Forward-Looking Statements

This news release contains forward-looking statements that reflect Vancity’s current expectations regarding future events, performance, and results. Those statements are based on assumptions, estimates, and projections that management considers reasonable in light of historical trends, current conditions, and expected future developments. However, forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Vancity’s control, including but not limited to changes in economic and geopolitical conditions, interest rates, regulatory requirements, and competitive factors. Actual results may differ from those expressed or implied in these statements. Vancity does not undertake any obligation to update or revise forward-looking statements, except as required by applicable laws. Readers are cautioned not to place undue reliance on these forward-looking statements.