Vancity reports strong Q2 results, early evidence of transformation to Vancity 2.0
TERRITORIES OF MUSQUEAM, SQUAMISH AND TSLEIL-WAUTUTH NATIONS and VANCOUVER, British Columbia, July 31, 2025 (GLOBE NEWSWIRE) -- 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. This includes $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 adding $25.1 million. Member deposits increased by $97.8 million — $63.5 million in the second quarter — with a notable increase in both retail and commercial demand deposits, while net retail mortgage lending jumped by $387.2 million since the beginning of this year. This improving financial performance means more resources available to support people in these uncertain times, as 30% of Vancity’s net profits go back to members and communities.
“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.”
Vancity’s work has also yielded real, positive impacts in 2025 on vital issues facing members and communities. Year-to-date growth in net retail mortgages supported more than 3000 families and individuals with their home-ownership needs, including 452 loans to help first-time home buyers enter the housing market. At the same time, in the first half of this year alone Vancity financed 900 units of affordable housing — that’s 900 more families who will be able to access a home they can afford.
Vancity has also been focused on building a more resilient local economy in light of economic uncertainty and trade concerns. Reflecting this commitment, Vancity provided $689.7 million in financing for local businesses in 2025, as of June 30th. This includes support extended to 188 women or non-binary small-business owners with loans through its women’s entrepreneurship program in Q2, bringing the total to 320 so far this year. A partnership with WeBC that provides financing and wrap-around supports for women and non-binary entrepreneurs, this program means more people have fairer access to financing while also supporting the diversity of Canada’s economy at a critical time.
“For Vancity, results aren’t just about numbers — they’re about people, “said Holbrook. “Strong financial results mean we can do more — fund more units of affordable housing, extend more support for the Indigenous economy, drive more investment back into communities, and support more entrepreneurs building local small businesses that make our economy more resilient. At a time when people need support more than ever, we’re here for them.”
This marks the first time Vancity has released its quarterly results, a move the credit union will replicate going forward as it continues its transformation.
Amidst this strong performance, Vancity remains focused on connecting with members and communities in neighbourhoods across its service areas and beyond. In the second quarter, Vancity sponsored major events like the Vancouver Sun Run and Vancity Innovation House, a partnership with Frontier Collective during Web Summit Vancouver. Vancity branches participated in local community events across the lower mainland and on Vancouver Island, as well as participated in significant community celebrations like Surrey Vaisakhi, Vancouver Vaisakhi, Qmunity Pride Breakfast, and more.
Vancity is also doubling down on serving and supporting members through uncertain times and re-investing in the experience of members as a central priority — including investing in a new digital platform expected to launch by the end of this year. This comes on the heels of enhancements in technology in 2024 to better serve members, from new products to improvements to existing services, as well as operational efficiencies to create smoother, member-centred experiences for everyone Vancity serves.
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 $36 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.
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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.
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