Wednesday, November 10, 2021: VCIB is located on the traditional territory of multiple Indigenous nations, including the Haudenosaunee and the treaty territory of the Mississaugas of the Credit/Toronto, ON—Vancity Community Investment Bank (VCIB), a national banking subsidiary of Vancity credit union, today announced the appointment of Christine Bergeron as interim CEO. Effective November 6, Christine’s appointment follows the departure of Jay-Ann Gilfoy, who served as CEO of VCIB since 2018 and now steps down to take on a new role as CEO of Meridian Credit Union and motusbank.
“We thank Jay-Ann for her years of service to VCIB and Vancity and wish her success in her new role,” said Christine, who has been closely involved with VCIB in her capacity as Board Chair and as President and CEO of Vancity.
“In just a few short years, VCIB has established itself as a leading financier for both the net-zero transition and the creation of more equitable and affordable communities,” continued Christine. “This team is demonstrating what we can achieve when we place impact and values at the core of financial decision making, and we’re excited for VCIB’s next chapter as we build on this momentum and lean further into our work as a financial force for change.”
Formerly Citizens Bank, VCIB re-launched in 2017 with a mandate to bring Vancity’s community-first financing model to the rest of Canada. VCIB is the first and only Canadian bank to exclusively finance organizations and projects that drive positive change. Over the past four years VCIB:
- Has financed more than 2,100 units of affordable housing across the housing spectrum and—more importantly—has co-created innovative cross-sector partnerships to address Canada’s affordability crisis, including with the Canada Mortgage and Housing Corporation (CMHC) and Habitat for Humanity Canada.
- Has financed clean energy and energy efficiency projects that have helped avoid nearly 20,000 tonnes of carbon emissions to-date. VCIB’s clean energy loan portfolio includes many first-of-their-kind projects including the world’s largest wastewater energy transfer facility at Toronto Western Hospital and those employing innovative models with the potential to accelerate the up-take of clean technologies.
- Became the first bank in Canada to acquire an impact investment company with the purchase of CoPower, a green investment platform and leading provider of clean energy project financing.
- Became the first schedule 1 bank in Canada to certify as a B Corporation and earned a place on B Lab’s Best for Workers 2019 list in recognition of our efforts to foster a human-centered workplace.
About Vancity Community Investment Bank (VCIB)
VCIB is an Ontario-based schedule 1 federally chartered bank and a subsidiary of Vancity Credit Union. As Canada’s first values-driven bank, VCIB provides banking, investing, and financing solutions, to help purpose-driven businesses and organizations thrive, grow, and foster change. Additionally, VCIB offers specialized financing solutions for social purpose real estate and clean energy projects. VCIB is a certified B Corporation and a member of the Global Alliance for Banking on Values. For more information, visit vcib.ca, tweet us at @BankVancity and connect with us on LinkedIn.
Vancity is a values-based financial co-operative serving the needs of its more than 550,000 member-owners and their communities, with offices and 55 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 $30.5 billion in assets plus assets under administration, Vancity is Canada’s largest community credit union. 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.