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

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

Benzinga
July 31, 2025

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 ...

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