Vancity shares 30% of net profits each year through our Shared Success Program. Since 1994, we’ve distributed more than $406 million, splitting the distribution between our members and community impact initiatives.
The Shared Success program will change in 2023 to make it a simpler, more equitable, and transparent program.
- We’ll discontinue the Patronage program within Shared Success in 2023, to focus more on membership dividends and our continued commitment to community investment.
- Vancity will continue distributing 30% of net profits to both retail and business members, as well as community initiatives.
- We’ll continue giving membership share dividends for both our retail and business members.
These changes to Shared Success were made with member feedback in mind, so that we can continue working together to make a more significant impact on the world around us. When we asked members, 77% told us they would be comfortable seeing their Patronage payments invested by Vancity to help advance social or environmental causes.
The last Patronage payment will be distributed in March 2022. Patronage payments will be discontinued in 2023, and the funds will be redirected to member dividends and into programs and partnerships that address broad and systemic needs in our communities. This change only affects retail members.