To help entrepreneurs, organizations and investors — who are working to solve social, environmental and economic problems — succeed.

Making
communities better each
day

We are a new, federally chartered bank that is focused 100% on community and environmental impact. VCIB is different because we measure our success not only by profit, but also by how we’ve strengthen communities and helped the planet.

Our expertise is in connecting entrepreneurs, organizations and investors with funding or advice to support the community and environmental work they are doing. To do this we offer project, portfolio, and business lending; impact capital transaction advisory services; and investment banking for community and environmental enterprises.

We believe that by supporting those making a positive impact on a social and environmental level that we can change what Canadians expect from a bank.

 

Who we are

Vancity Community Investment Bank was launched based on the belief that companies have a responsibility to use their resources for positive change. Originally formed in 1997 as Citizen’s Bank, VCIB is a wholly-owned subsidiary of Vancouver City Savings Credit Union (Vancity).

For more than 70 years our parent, a financial co-operative, has been recognized for growing profits while building sustainable communities. The triple bottom line (people, planet and prosperity) approach of Vancity is the foundation for our work at VCIB.

Board of directors team

Chair, Vancity Community Investment Bank | President & CEO, Vancity

Tamara Vrooman believes that it is possible for financial institutions to build healthy communities that are environmentally and socially sustainable while being profitable.

Over $5.4 billion of Vancity’s assets have been invested in social finance initiatives, including more than $350 million to increase the supply of affordable housing over the last eight years. This triple bottom line (people, planet and prosperity) expertise drives Tamara’s decision-making as Board Chair at VCIB and CEO of Vancity.

Under Tamara’s direction, Vancity achieved the highest profits in the organization's 70-year history and became the first Canadian financial institution (FI) invited to the Global Alliance for Banking on Values; the first carbon-neutral FI in North America; the largest Canadian private-sector living wage employer, and one of the first to create an alternative product to high-interest payday loans.

Tamara’s commitment to helping solve unmet community needs has earned her invitations to a Vatican-hosted economic summit, to speak with the Dalai Lama and to address an event hosted by the United Nations.

Previously, Tamara served as B.C.’s Deputy Minister of Finance and Secretary to the Treasury Board. Outside of her work in building the Canadian social finance market, Tamara lends her voice to issues related to women and families, equality and inclusion.

Vice Chair, Vancity Community Investment Bank; Vice Chair, Vancity Board of Directors

Teresa has more than 25 years of executive and leadership experience supporting the finance, market strategy and risk management objectives of values-based and community-minded organizations. She joined Vancity in 2012 and VCIB in 2017.

Teresa is a chartered public accountant and President and CEO of Powerex, one of BC’s top 100 companies. Teresa has chaired Powerex management committee responsible for overseeing market, credit and operational risk. She is also a member of the BC Hydro Executive team.

Teresa holds an ICD.D professional designation from the Institution of Corporate Directors. Her leadership as Chair of the Vancity Board of Directors’ Audit committee, and performance on the Risk committee, has been essential in ensuring the continued fiscal success of the organization through a massive, multi-year technical banking application renewal process affecting Vancity’s entire membership base.

Teresa is a supporter of financial, social and environmental well-being and local arts and culture, through her volunteer work with local community centers, dance and theatre companies. In 2004, Teresa was awarded the AWF Leader in Finance Designation by the Association of Women in Finance. She acts as a mentor for women in business and is a member of the International Women's Forum, Association of Women in Finance,  Vancouver Board of Trade, and Order of St. John’s.

Director, Vancity Community Investment Bank

Annette’s broad skill set includes overseeing the finance, community-building and regulatory compliance objectives of organizations that support charitable entities.

Annette holds a Bachelor of Commerce degree from McMaster University, is a chartered public accountant and has worked in the private sector in addition to leading her own consulting practice.

Her leadership as executive vice-president of finance and operations for the Hamilton Community Foundation (HCF), greatly compliments her role on the Vancity Community Investment Bank board of directors. Under her direction, HCF has become well known as a leader in effective governance practices and pioneering new business models to support community building.

Annette has been instrumental in aligning HCF’s assets with its mission to multiply the organization’s local, national and international impact. She also leads the foundation in deepening its examination of its public market portfolio, and in recognizing that all investments have a social or environmental impact. Annette also sits on the board of the Shareholder Association for Research and Education.

Director, Vancity Community Investment Bank

Derek brings more than 20 years of experience in the social housing, real estate management and development business to the Vancity Community Investment Bank board of directors.

Along with extensive experience managing real estate investments, Derek has worked with mutual funds and possesses a deep knowledge of the not-for-profit, charitable, social entrepreneur, co-operative and foundation sectors at the local, provincial and federal levels.

Derek is currently CEO of Encasa Financial Inc., an investment fund manager that offers housing providers mutual funds. He is also the CEO of the Community Forward Fund, the principal with a consultancy working in social finance and affordable housing and a managing partner at New Market Funds.

Previously, Derek helped establish Build Toronto and acted as COO. He also served as CEO of Toronto Community Housing (TCH), a large rental housing provider. Derek led the organizational and financial restructuring of TCH as well as the recapitalization and redevelopment of the organization’s portfolio.

Derek also sits on the board of directors of the Laidlaw Foundation.

Acting CEO and Director, Vancity Community Investment Bank; Senior Vice President, Enterprise Services, Vancity

Complementing Lisa's background as a chartered accountant and former chief financial officer for Vancity is her ability to ensure organizations achieve their objectives while acting with integrity.

Lisa’s ability to combine the discipline of finance with a social and environmental viewpoint has been a considerable factor in ensuring the credit unions’ entire balance sheet supports making an impact in the communities it serves. Lisa has experience overseeing marketing and communications, human resources functions, finance, treasury, and facility & environmental management at Vancity. Previously at BC Hydro, Lisa was the executive director responsible for customer care,  one of North America's leading energy conservation programs.

For seven years, Lisa has served as a board member and finance committee chair for Vancouver Community College. Additionally, she sits on the board of the Canadian Sport Institute Pacific, the Vancity Community Foundation, and is Vice Chair of the YWCA.

Director, Vancity Community Investment Bank

As a long time advocate for affordable housing, Elain worked as a developer for non-profit and co-operative housing in the public, private and non-profit housing.

Elain brings her years of experience on the Board of Vancity Credit Union to the Vancity Community Investment Bank board where she is Chair of the Audit Committee. She is excited about the potential in a values-based bank to build stronger and healthier communities by building the social finance market in Canada.

In addition to her governance work at VCIB, Elain serves on the board of three non-profit organizations. She has served on various corporate boards and has extensive experience in all aspects of governance.

Director, Vancity Community Investment Bank

Mary was a co-founder of ShoreBank Corporation (the first and largest specialized community development bank holding company in the United States) and became its president in the early ‘80s.

Mary now brings her expertise in raising and deploying equity and deploying the deposits of social investors in neglected markets to her role at VCIB. She managed expansion activities of ShoreBank, including the formation of ShoreCap International in 2003—an equity investor in regulated microfinance and small business banks in Africa, Asia and Eastern Europe which is closing its 3rd round in 2017 to invest in financial services in Africa.

Outside of her role at VCIB, Mary is Chair of Basix and a director of BSFL (a regulated non-bank financial institution subsidiary) in Hyderabad, India.. Mary is also a director of Grassroots Business Fund and Rapid Results Institute. Mary is a founder for the Global Alliance for Banking on Values, and acts as director for two ex-ShoreBank affiliates and one former subsidiary.

Director, Vancity Community Investment Bank

William (Bill) Knight joins the VCIB board with extensive experience in the financial services industry and is a certified director from the Institute of Corporate Directors. He is the former commissioner for the Financial Consumer Agency of Canada and a former member of Parliament.

During his time as the president and CEO of Credit Union Central of Canada (now the Canadian Credit Union Association), Bill undertook a number of strategic initiatives to distinguish Canadian credit unions as a competitive alternative to banks. He has chaired the Credential Financial Inc. group of companies, as well as the World Council of Credit Unions’ CEO advisory committee.

Bill also served on the consumers’ advisory group to the Irish Central Bank and is an advisor to the World Bank's global program on financial consumer protection. Additionally, he supports the Canadian Cooperative Association's program to assist credit union development worldwide.

Bill is a member of corporate and volunteer boards, including Assuris, the Atkinson Foundation Investment Committee, and the Broadbent Institute.

Director, Vancity Community Investment Bank & Senior Vice President Enterprise Risk, Vancity

Joining the Vancity Community Investment Bank board of directors in June 2012 was a natural fit for Rick due to his experience leading Vancity’s member-facing lines of business and more recently moving to the SVP Enterprise Risk role.

Rick’s leadership strengths include the ability to build member value in tandem with a more holistic approach that supports community well-being, and he started his financial services career in commercial banking where the emphasis on personal relationships was paramount. Rick then went onto a series of progressively senior roles at TD Canada Trust, TD Waterhouse Private Investment Counsel, and Fidelity Investments before joining Vancity in 2007.

Rick has a Bachelor of Commerce degree from the University of Saskatchewan with a double major in finance and marketing. He is a certified financial planner and personal financial planner and has completed his ICD, Director Education Program.  Rick serves on several boards, including Credential Financial Inc. and the Boys and Girls Clubs of South Coast BC.

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