Vancouver City Savings Credit Union

Recognized as one of Canada's Top 100 Employers (2016)

Here are some of the reasons why Vancouver City Savings Credit Union was selected as one of Canada's Top 100 Employers (2016) :

Here are some of the reasons why Vancouver City Savings Credit Union was selected as one of Canada's Top 100 Employers (2016):

  • Vancity is the largest employer in Canada to become a "Living Wage Employer", which is more than a simple minimum wage but a program that recognizes the social and economic benefits of paying a real living wage for all its employees and service providers -- which Vancity does
  • Vancity supports employees with young families through generous maternity and parental leave top-up payments for moms (to 85% of salary for 52 weeks) as well as new dads and adoptive parents (to 85% of salary for 35 weeks)
  • Vancity supports ongoing employee development with generous tuition subsidies (to $2,400 each year) as well as a unique live and work co-op training option for employees interested in living in Bologna, Italy (where co-operatives account for one-third of the GDP) -- also provides four month secondments for those who want to spend time working at a non-profit community organization

Employer Background

Industry Credit Unions
Major Canadian hiring locations Vancouver BC, Victoria BC, Squamish BC
Full-time employees in Canada 2,076
Part-time employees in Canada 474
Workforce engaged on a contract basis 1.1%
Average age of employees in Canada 41
Longest serving employee 42 years

Physical Workplace A+

Commuter amenities transit subsidies, car-pool sign-up program, free parking, secure/sheltered bicycle parking
Workplace features unique twelve-storey head office is located atop the SkyTrain (which passes directly through the building) and at the tip of False Creek Seawall (which extends to Stanley Park and Kitsilano) enabling easy access for cyclists as well as to the downtown, electric car-charging stations, discounted parking rate for carpoolers, onsite convenience store and coffee shop, instructor-led pilates, yoga, and kick boxing classes, lockers, shower facilities, nap room, outdoor patio
Employee lounge amenities comfortable seating, television, rooftop garden patio (with employee-led sessions for those looking to develop a greener thumb)
Other nearby amenities Creekside Community Centre, fitness club, False Creek Seawall, daycare, restaurants, shopping mall, Chinatown, Granville Island and Yaletown (15 minute walk), Olympic Village

Work Atmosphere & Communications B+

Recent social events unique "V After Dark" social at a downtown hotel for employees and their spouses (past themes include a magical circus night and last year's natural wonders of the West Coast, replete with a towering rainforest and cedar scented air), annual employee Recognition Night, member day the Pacific National Exhibition (for employees and members), an afternoon at the Vancouver Art Gallery, and recently held its first "Member Day at Science World" with discounted passes for employees and credit union members
Cultural aspects employee sports teams, casual dress Fridays, concierge services available
Employee communications intranet site, company newsletter, traditional/email suggestion box
Other in-house communications Mysite (in-house version of Linkedin for employee profiles), Yammer (in-house social networking platform), In the Spotlight (offers bios of employees and teams), Public Market (intranet-base marketplace for employees)

Financial Benefits & Compensation A+

Outside salary surveys participates in outside salary surveys every 12 months
Employee salary reviews individual salaries are reviewed every 12 months
Long-term savings defined-benefit (DB) pension, non-matching RSP
Long-term planning life & disability insurance
Profit-sharing plan available to all employees
Referral bonuses new employee referral bonuses (up to $800) for some positions
Signing bonuses available for some positions
Additional financial benefits low-interest home loans, no fee bank accounts, no credit card fees, discounted consumer loans, discounted foreign exchange rates, employees can choose to opt-out of the defined benefit plan in favour of an RSP plan with employer contributions ranging up to 8% of earnings, new employee referral bonuses can be taken as taxable income (up to $800) or a gift certificate option for fitness memberships or restaurant dinners (or a combination of both options), the credit union is early signatory (2011) to the "Living Wage Employer" program, which seeks to ensure that the living wage becomes to the base standard rate of pay, helping to lift working families out of poverty

Health & Family-Friendly Benefits A

Health plan note Vancity has multiple employee groups, health plans may vary by position
Health plan premium as part of the health plan, the employer pays up to 100% of the premiums
Flexible coverage health plan is flexible with adjustable premiums and coverage levels
Minimum hours worked for coverage 18 hours per week
Waiting period for coverage 90 days
Family coverage option yes
Dental coverage routine, restorative, orthodontics
Eyecare $275 every 2 years
Traditional coverage (e.g. prescription drugs) yes
Additional coverage employee assistance (EAP) plan, physiotherapy, medical travel insurance, homecare, medical equipment and supplies, massage therapy, nutrition planning, podiatrist, osteopathy, chiropractor, alternative coverage (e.g. accupuncture, naturopathy), flexible health plan offers three options for extended health coverage and four options for dental coverage
Maternity top-up (mothers) up to 85% of salary for 17 weeks
Parental top-up (mothers) up to 85% of salary for 35 weeks
Parental top-up (fathers) up to 85% of salary for 35 weeks
Adoption top-up up to 85% of salary for 35 weeks
Alternative work options flexible work hours, 35-hour work week (with full pay), shortened work week (fewer hours with less pay), compressed work week, telecommuting
Additional family-friendly information job sharing, free YES Summer Leadership Camp option for employees with teens between 14 and 18 years of age (full week retreat), annual "Take Our Kids to Work Day", short "care time" policy for taking care of immediate family members (up to two days per event)

Vacation & Personal Time-Off B+

Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job
Vacation jump vacation increases after 4 years of employment
Maximum vacation allowance employees move to a maximum of 5 weeks of vacation over their career
Unpaid leave maximum 24 months
Additional time-off information some employees receive 4 weeks paid starting vacation, all employees receive a bonus week of paid vacation on their 10th anniversary and each increment of 5 years thereafter

Employee Engagement & Performance B+

Employee performance reviews employees receive individual performance reviews every 6 months
Managers receive performance review training yes
360° feedback option as part of the review process, performance feedback is also solicited from co-workers and other managers familiar with each employee's work
Confidential employee feedback employees can also provide confidential feedback on their manager's performance
Performance recognition long-service awards, annual pay increases are based on performance

Training & Skills Development A+

Career planning in-house career planning services, online employee skills inventory
In-house training initiatives in-house training, online training, paid internships
Tuition subsidies (related to job) yes
Tuition subsidy coverage employer covers up to 100% of tuition per year
Annual tuition maximum employer pays up to $2,400 in tuition subsidies per year
Tuition subsidies (unrelated to job) yes
Unrelated tuition subsidy coverage employer covers up to 50% of non-related tuition per year
Unrelated tuition maximum employer pays up to $2,400 in tuition subsidies per year
Subsidies for professional accreditations yes

Community Involvement A+

Scope of charitable involvement local, international
Employee charitable involvement employees are involved in selection of charities
Total employee volunteer hours (on company time) over 1,097 hours last year
Total number of charities supported last year approximately 426 charitable and community organizations were supported last year
Some of the community organizations supported Vancouver Native Housing Society, Cowichan Green Community Society, Greenworks Building Supply, Hope in the Shadows (training and employment for low-income people in Vancouver), Emma's Acres (organic farming and social enterprise initiative), and EMBERS (helping launch over 500 business and 1,000 temporary job placements in Vancouver), Semiahmoo House Society (affordable housing for persons living with disabilities)
Charitable giving matches employee donations, matches employee volunteer hours with company donations
Community highlight Vancity's charitable program is modelled on the guiding principles of the organization, including cooperative principles and practices, environmental sustainability, social justice and financial inclusion. Every year, the credit union and its employees support numerous organizations throughout the region, from Aboriginal community initiatives to financial literacy programs to energy and environmental projects to local and organic food production initiatives.

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