October 1, 2026
Territories of Musqueam, Squamish and Tsleil-Waututh Nations / Vancouver B.C.
Vancity has become a member of Payments Canada, marking an important step in the credit union's efforts to support secure, efficient and innovative payment experiences for its members.
Payments Canada owns and operates Canada's core payment infrastructure and plays a central role in the modernization of the country's payments ecosystem. Membership provides Vancity with the opportunity to participate more directly in discussions about the future of payments in Canada and helps ensure the perspective of a member-owned financial co-operative is represented as the system continues to evolve.
"Our members expect banking and payments to be simple, secure and fit seamlessly into their daily lives," said Wellington Holbrook, President and CEO of Vancity. "Joining Payments Canada is an important step in helping us meet those expectations while contributing to the future of Canada's payments ecosystem. As payment systems continue to evolve, this membership will help us deliver better experiences for our members and ensure the perspective of a member-owned financial co-operative is represented in shaping what's next."
The Canadian payments landscape is undergoing significant transformation, including ongoing modernization efforts designed to make moving money faster, safer and more convenient for Canadians. Through its membership, Vancity will be better positioned to contribute to these conversations while continuing to focus on delivering value for members.
For Vancity, membership aligns with its broader efforts to invest in technology, modernize products and services, and improve the member experience.
As Canada's largest community credit union, Vancity is committed to ensuring financial services work for people and communities. Participation in Payments Canada supports that commitment by helping Vancity stay closely connected to the future direction of Canada's payments ecosystem and the evolving needs of members.
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.
