October 28, 2026
Territories of Musqueam, Squamish and Tsleil-Waututh Nations / Vancouver, B.C.
Strong investor demand supports Vancity’s plans to grow, improve banking for members and invest more in communities
Vancity today announced the successful completion of a $225 million subordinated debt offering, attracting approximately $1.2 billion in investor orders, more than five times the amount issued.
The transaction strengthens Vancity’s balance sheet position, creating greater capacity to lend to members and businesses and invest in a better banking experience. It also supports the credit union’s ability to advance its community priorities, including affordable housing, climate action and stronger local economies.
As a member-owned credit union, Vancity's success is directly connected to the people and communities it serves. The more it grows, the more it can reinvest in helping members achieve their financial goals, supporting local businesses, and addressing challenges such as housing affordability.
The offering attracted strong interest from 33 institutional investors, including 13 investing in Vancity's capital markets program for the first time. The response builds on Vancity's successful entry into institutional capital markets earlier this year and reflects continued investor confidence in the credit union's financial position and future direction.
“We have ambitious plans for Vancity’s future, and this investment helps us deliver on them,” said Frances Yip, Vancity’s CFO. “The strong response from investors reflects confidence in our direction and gives us greater flexibility to grow. The more successful we are as a business, the more we can do for our members, from improving their banking experience to supporting local businesses and communities.”Subordinated debt is long-term financing that is intended to increase the credit union's capacity to support lending and investments for its members, while maintaining a disciplined approach to balance sheet management.
The offering follows Vancity’s $325 million senior deposit note issuance in July 2026, which diversified its funding sources. Together, the two transactions provide greater financial flexibility to support responsible growth and modernization.
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 $42.4 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.
