Vancity

Vancouver City Savings Credit Union, commonly referred to as Vancity, is a member-owned financial co-operative headquartered in Vancouver, British Columbia, Canada. By asset size, Vancity is the largest community credit union in Canada , with in assets plus assets under administration, 60 branches and more than 543,000 members. History Vancity began operations in 1946 as an open-bond credit union in Vancouver, British Columbia, Canada. Initially a financial co-operative consisting of 14 Vancouver residents, Vancity has grown to serve British Columbia's Lower Mainland and the Victoria region of Vancouver Island. On September 28, 1946, 14 Vancouver residents signed a charter to establish an open-bond credit union that would be open to any resident of the city, regardless of social affiliation. On October 11, 1946, Vancouver City Savings Credit Union opened to the public. By the end of 1946, total assets were $2,966. Vancity first operated out of a former machine shop on the corner of Broadway and Quebec streets in Vancouver. By the end of 1951, membership had reached 2,000. Assets grew rapidly after the introduction of personal chequing accounts in the same year, reaching $5million in 1962, $10million in 1965, $100million in 1973, and $1billion by 1980. , current assets are $22.9billion.