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Lessons in operationalizing social finance: the case of Vancouver City Savings Credit Union

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  • Sean Geobey
  • Olaf Weber

Abstract

With $16.2 billion of assets the Vancouver City Savings Credit Union (Vancity) has the largest asset base of any member of the Global Alliance on Banking and Values, a global association of ethical banks, and also has the largest asset base of Canada's credit unions. This article analyses the social financing Vancity conducts and the disclosure of the social impact of the products and services they offer. The results suggest that they are on the path to realizing a 100% social finance portfolio but that they have not arrived there yet. In particular, their personal retail products and services still offer room for improvement. Furthermore, their reporting lacks an indicator based on comparative figures that would allow stakeholders to compare the impact of Vancity's products and services with those of other financial institutions.

Suggested Citation

  • Sean Geobey & Olaf Weber, 2013. "Lessons in operationalizing social finance: the case of Vancouver City Savings Credit Union," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 3(2), pages 124-137, April.
    • Handle: RePEc:taf:jsustf:v:3:y:2013:i:2:p:124-137
    DOI: 10.1080/20430795.2013.776259
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    Cited by:

    1. Zsuzsanna Győri & Yahya Khan & Krisztina Szegedi, 2021. "Business Model and Principles of a Values-Based Bank—Case Study of MagNet Hungarian Community Bank," Sustainability, MDPI, vol. 13(16), pages 1-27, August.
    2. Antonio Minguzzi & Michele Modina & Carmen Gallucci, 2019. "Foundations of Banking Origin and Social Rating Philosophy—A New Proposal for an Evaluation System," Sustainability, MDPI, vol. 11(13), pages 1-16, June.
    3. Cristina Coscia & Subhash Mukerjee & Bianca Ludovica Palmieri & Chiara Quintanal Rivacoba, 2020. "Enhancing the Sustainability of Social Housing Policies through the Social Impact Approach: Innovative Perspectives form a “Paris Affordable Housing Challenge” Project in France," Sustainability, MDPI, vol. 12(23), pages 1-27, November.
    4. Juan Camilo Mejia-Escobar & Juan David González-Ruiz & Eduardo Duque-Grisales, 2020. "Sustainable Financial Products in the Latin America Banking Industry: Current Status and Insights," Sustainability, MDPI, vol. 12(14), pages 1-25, July.
    5. Maria Carolina Rezende de Carvalho Ferreira & Vinicius Amorim Sobreiro & Herbert Kimura & Flavio Luiz de Moraes Barboza, 2016. "A systematic review of literature about finance and sustainability," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 6(2), pages 112-147, April.
    6. Truzaar Dordi & Phoebe Stephens & Sean Geobey & Olaf Weber, 2024. "New bottle or new label? Distinguishing impact investing from responsible and ethical investing," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(1), pages 309-330, March.
    7. Jasman Tuyon & Okey Peter Onyia & Aidi Ahmi & Chia-Hsing Huang, 2023. "Sustainable financial services: reflection and future perspectives," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 28(4), pages 664-690, December.
    8. Paweł Mikołajczak, 2023. "Comparative study of social impact bonds – capital per beneficiary and scheme duration," Bank i Kredyt, Narodowy Bank Polski, vol. 54(2), pages 191-220.
    9. Mario La Torre & Helen Chiappini (ed.), 2020. "Contemporary Issues in Sustainable Finance," Palgrave Studies in Impact Finance, Palgrave Macmillan, number 978-3-030-40248-8, December.

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