Vancity Report Highlights Decline in US Spending, shift in spending habits

A new report from Vancity reveals how some B.C. consumers are shifting habits in light of economic uncertainty and shifting global trade dynamics. The data, drawn from Vancity enviro™ Visa spending patterns, shows a significant drop in US-based spending (from crossborder shopping to online purchases) suggesting a growing move among members to rethink how and where they spend.

Vancity's latest Economy & Impact report focuses on the impact of US tariffs and ensuing buy Canadian trends. The findings reflect caution among consumers, as well as early signs of changing priorities.

Key Findings:

• In-person spending in Washington state declined 47% compared to the same period in 2024.
• Overall US in-person spending was down 33% year-over-year among Vancity retail members.
• Online spending at US-based retailers fell 14%, with clothing purchases showing the sharpest drop (down 26%).
• Online bookings for US hotels and cruises decreased 28%.
• The total value of Mexican peso wire transfers from Vancity members nearly quadrupled, despite no rise in the number of wires. This suggests a potential increase in high-value purchases like vacation properties.

“These numbers show a behavioural shift in how members are spending their money this year,” said Wellington Holbrook, Vancity’s President and CEO. “Whether it’s cross-border shopping or US travel, we’re seeing a notable change as people are being more deliberate with their spending, and in many cases, looking closer to home.”

“At Vancity, our goal is to help members navigate uncertain economic terrain,” Holbrook continued. “That means providing relevant support, offering guidance that reflects their values, and using our insights to understand what’s happening on the ground where it matters most.”

The full report is available here.

About Vancity

Vancity is a values-based financial co-operative serving the needs of its 570,000 member-owners and their communities, with offices and more than 50 branches located in Metro Vancouver, the Fraser Valley, Victoria, Squamish and Alert Bay, within the territories of the Coast Salish and Kwakwaka'wakw people. With $35.5 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.