July 28, 2026
Unceded territories of the xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish), and səlilwətaɬ (Tsleil-Waututh) Nations / Vancouver, B.C.
Vancity is expanding its Planet-Wise Home Renovation financing program to help homeowners invest in wildfire protection upgrades, becoming the first financial institution in British Columbia to offer a lending option aligned with FireSmart BC recommendations.
The enhanced financing option supports homeowners in completing wildfire mitigation improvements identified through a free FireSmart BC Wildfire Mitigation Program Assessment. The assessment identifies practical ways to reduce wildfire risk around the home and property. Eligible upgrades recommended through the assessment can then be financed through Vancity's Planet-Wise Home Renovation program.
FireSmart BC is a provincial initiative aimed at reducing the risk of wildfire damage to homes, communities, and forests. This includes actions that can be taken by homeowners and communities to follow FireSmart principles to help build a wildfire-resilient British Columbia. Examples of improvements eligible for Planet-Wise Home Renovation financing include non-combustible roofing and siding, ember-resistant vents, and vegetation management such as tree and brush removal.
"As climate change increases the frequency and severity of wildfires across British Columbia, many homeowners are looking for practical ways to better protect their homes and families," said Alison Coates, Director, Climate Strategy and Performance, Vancity. "By expanding our Planet-Wise Home Renovation program to include wildfire resilience measures, we're helping remove financial barriers to upgrades that can make homes and communities more resilient."
Vancity's financing expansion builds on its broader commitment to supporting climate action and climate-ready communities. While Planet-Wise Home Renovation financing has traditionally helped members improve energy efficiency and reduce emissions through the lower interest rate, the program will now also support investments that help homeowners adapt to the growing impacts of climate change.
Vancity's analysis of its mortgage portfolio found that 33 per cent of its existing mortgages have some degree of wildfire exposure, underscoring the growing importance of helping homeowners reduce risk and strengthen preparedness.
“While many FireSmart BC recommendations are free or low-cost, some larger improvements may be financially out of reach,” said Rachel Woodhurst, Program Lead, FireSmart BC. “Partnering with Vancity’s Planet Wise Home Renovation program offers homeowners a practical approach to reduce financial barriers, and provides an important example of how financial institutions can help turn wildfire resilience guidance into action.”
To access the financing, homeowners must first complete a free FireSmart BC Wildfire Mitigation Program Assessment, available in participating communities across British Columbia. The assessment provides a personalized report outlining recommended actions to improve a property's resilience to wildfire. Eligible upgrades identified through the report can then be financed through Planet-Wise Home Renovation lending, subject to standard lending approval criteria.
Vancity's Planet-Wise Home Renovation program offers a range of financing options, including term loans, unsecured lines of credit and creditline mortgages. The term loan offers rates starting at prime plus 0.75 per cent, with amortization of up to 15 years.
About FireSmart BC
FireSmart BC helpsbuild wildfire resiliency and reduce the negative impacts of fire for everyonein the province. The BC FireSmart Committee was initiated by the BC WildfireService in May 2017 to provide direction for wildfire prevention activities.Members of the committee include the BC Wildfire Service, FireSmart Canada, theOffice of the Fire Commissioner, the Union of B.C. Municipalities, the FireChiefs’ Association of B.C., Emergency Management and Climate Readiness (EMCR),the Forest Enhancement Society of B.C., the First Nations’ Emergency ServicesSociety of B.C. (FNESS), Indigenous Services Canada, the Ministry of Forests -Regional Operations, Parks Canada, BC Parks, the Ministry of Agriculture andFood, and the Ministry of Housing and Municipal Affairs.
Vancity is a values-based financial co-operative serving the needs of its 588,000 member-owners and their communities, with offices and more than 60 branches located in Metro Vancouver and Squamish, the Fraser Valley, the Sunshine Coast, the Vancouver and Gulf Islands and Alert Bay, within the territories of the Coast Salish and Kwakwaka'wakw Peoples. With $41 billion in assets plus assets under administration, Vancity is Canada's largest 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.
