July 20, 2026
Territories of Musqueam, Squamish and Tsleil-Waututh Nations / Vancouver, B.C.
Vancity has received a BBB Long-Term Issuer Rating and a BBB Long-Term Senior Debt Rating, both with Stable trends, from Morningstar DBRS. The rating agency also confirmed Vancity's short-term ratings at R-2 (high) with Stable trends.
The ratings support a significant milestone for Vancity's funding strategy: the successful launch of its inaugural Senior Deposit Note issuance. The offering raised $325 million from 31 investors and was almost five times oversubscribed, with with a final orderbook of investor demand reaching approximately $1.5 billion.
Together, the long-term credit rating and successful debt issuance reflect confidence in Vancity's financial strength, brand, and long-term strategy. They also expand Vancity's ability to access diversified sources of funding and capital, helping support future growth while continuing to serve members and communities.
Morningstar DBRS cited Vancity's position as one of Canada's largest credit unions, its strong member deposit base, sound liquidity position, solid capital levels and established community banking franchise as key strengths supporting the ratings.
"This milestone reflects the strength of our organization, the trust of our members and the progress we've made in building a stronger Vancity," said Wellington Holbrook, President and Chief Executive Officer. "Receiving a long-term credit rating and successfully entering the institutional capital markets broadens awareness of Vancity nationally and supports our long-term growth ambitions."
"This is an important milestone for Vancity," said Frances Yip, Chief Financial Officer. "The rating recognizes our financial strength, while the strong response to our inaugural Senior Deposit Note issuance demonstrates confidence in Vancity from investors across Canada. Together, these achievements will expand our funding and capital opportunities and support our long-term strategy."
The announcement marks a new chapter in Vancity's evolution. In addition to providing independent validation of the credit union's financial strength and stability, the long-term credit rating and inaugural Senior Deposit Note issuance increase Vancity's profile among investors across Canada and support its ability to pursue future funding and capital-raising opportunities.
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.
