The Director Remuneration Committee is responsible for providing an independent and objective review of current director remuneration. On the basis of its review, the Committee will propose a remuneration structure, philosophy, and amount for presentation to the membership at the Annual General Meeting (AGM).
The Committee is made up of at least three Vancity members who are not currently serving as directors of Vancity, or any of Vancity’s subsidiaries or affiliates.
When determining the appropriate level of remuneration, the Committee considers that Vancity is a member-owned financial cooperative with a values-based banking model that is designed to enhance the financial, social and environmental well-being of our members and their communities.
The Committee will also consider:
- the level of responsibility and time commitment required of directors; and
- the need to attract and retain directors with the attributes and experience required to advance Vancity’s business model and strategic plans, and to control its risks.
This Committee will bring forward a resolution to members at the 2025 Annual General Meeting, which will take effect immediately after the AGM.
You are eligible to serve on the Director Remuneration Committee if you are:
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be aged 19 years or over;
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have had a Vancity membership for at least the one year prior to applying to be appointed to the Committee;
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be a member in good standing for a period of at least one year;
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have no unresolved credit issues⁴ or criminal charges⁵
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demonstrate high integrity and ethical conduct and standards;
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not be currently employed, or have been employed within the past two years, by Vancouver City Savings Credit Union, any of its subsidiaries, or the Vancity Community Foundation.
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not have been a candidate in the Board of Directors Election immediately preceding the AGM at which the Committee will present its recommendation to the Vancity members.
Members of the committee should reflect the communities Vancity serves to ensure diversity of thought, background, and experience, and should demonstrate experience in some or all of the following areas:
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compensation matters or Human Resources
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serving on a board or reporting to a board
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demonstrated decision-making ability
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strong communication skills, effective judgment, respect for others, integrity, and listening skills
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understanding of:
- Vancity’s mission and values, and co-operatives in general
- financial, social, and environmental performance and impact
- governance, financial industry, enterprise risk management
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the ability to make a substantial commitment of time in Fall 2024
Vancity will pay members of the Committee an honorarium of $1,250 following the 2025 AGM.
