Here in B.C., we think about how our actions affect our community. We watch how we consume and recycle, we shop locally, we compost, and we’re concerned about our effects on the planet.
I say “we” because we know from a recent poll that in B.C. 98% of us say we recycle all or some of the time; 89% of us read ingredients to make healthy food choices, and 52% of us commute in an environmentally responsible way. A third of us say that we research the ethics of companies we are considering purchasing from.
Vancity has partnered with SFU Public Square’s Community Summit for four years now. We see our partnership as a good fit. SFU, through its Public Square, invites people to grapple with issues we face in society: inequity, local economy, the future of innovation. Their mission is “to be the go-to convener of serious and productive conversations about issues of public concern”.
At Vancity, we’re looking at ways to harness the collective power of our members’ assets to invest in areas that create healthy communities. That’s our role as this region’s values-bases banking institution. In order to do that, we need places where we can convene our members and the public to discuss and deliberate on steps we can take to create communities where we can all thrive. A good partnership is one that can bring more people into that conversation and include more voices and hear from people with diverse opinions, perspectives, and backgrounds. We can’t solve problems and create new opportunities for a more co-operative economy, a cleaner environment, or greater social inclusion unless we partner together.
This year, the focus of SFU Public Square is on city-building. The aim is to “invigorate the public conversation on how people can connect with their cities, find their voice, and enjoy increased participation in civic life.” Nothing could be more important. A disengaged citizenry means that key issues aren’t being addressed and is a recipe for complacency and cynicism.
In order to engage around these vital issues, SFU has focused on the role that the arts can play as a facilitator of dialogue, new thinking, and reflection. To get us outside our experience to build empathy for other points of view.
I look forward to being challenged and inspired to rethink my assumptions and grapple with some new ideas, and as a result, focus on how to make our region better for all.
Originally posted at the SFU Public Square Blog.
In my role at Vancity, I think a lot about an inclusive, sustainable and also vibrant local economy. And I am a hypocrite.
Oh, I’m not alone, all my colleagues and peers are hypocrites too.
We support local businesses. Especially businesses that create a local food economy, hire people with barriers to employment, support new Canadians as they settle so they can be productive and happy in their new country, help companies trying to reduce the carbon emissions they put into the environment and help people reduce the carbons they emit in their lives.
Why are we hypocrites? Our personal investments can’t be put into these kinds of companies. Instead, at best, our mutual funds can screen out companies whose ethics we disagree with. But you can’t screen out everything we disagree with or there’d be almost nothing left to invest in. Big banks? No thanks. Oil and gas? Uh-uh. Resource extraction? No way.
Assuming we’re all investing in socially responsible investments, we’re investing in national and multi-national companies that are moving along a spectrum towards greater sustainability. That’s better than putting our hard-earned money capitalizing companies that we don’t support, endorse or whose practices we actively disagree with. But the government says we can’t invest in the local food market down the street trying to bring local food to our community. (No one sums this up better than Michael H. Shuman.)
The government says we can go to the casino down the road and gamble away our life savings. Sure, that’s allowed. But putting some retirement savings into a local business we can touch and shop at and support? That’s verboten.
Say hello to the Knives and Forks Community Investment Co-op – it’s the newest co-op that I’m a member of. It uses the co-operative structure to allow ordinary people (aka: unaccredited investors) to invest increments of $2,400 into local businesses after becoming a co-op member for a $100 membership share purchase. Knives and Forks focuses on local businesses involved in the local food economy. Restaurants, growers, producers, value-add suppliers, and so on.
It’s a needed addition to our options as local BC citizens trying to support the businesses that we believe in. A central tenet of investing is to invest in companies whose products you use and enjoy. As much as I love Apple and enjoy their products and am proud of their major leaps in environmental sustainability, I don’t know them in the same way that I know my local, organic grocer that I go to every week and can chat with and ask for products that are relevant to me and my family. Or a local butcher, fishery co-operative, raspberry farm, etc…
That’s the best kind of investment.
Originally published on the Co-op Water Cooler.
Before I started working at Vancity, the longest I worked anywhere was only two or three years. I job-hopped a lot. I didn’t jump around because I was disloyal. I did it because I either got bored and wanted new challenges, which that company couldn’t provide me with, or I had no particular affinity for the company and didn’t feel invested in its growth or success.
Ten years ago today I left a good job at our local telco and started at Vancity on a three-month contract. I was already a member and had a feeling this work experience would be very different from previous employers. I had no idea how different…
After ten years at Vancity, where I have grown from managing web projects on contract, to overseeing the digital team, to taking on community events and granting, to working in community investment, I am honoured to step up and become the new VP of Community Investment.
Vancity has allowed me to grow in ways I never could have imagined, and experience things that helped shape who I am. I recently looked back at all the experiences I’ve blogged about since starting at Vancity, from going to Bologna to study the co-operative sector, to being an early adopter of social media, to being the voice of Vancity in some pivotal ads, to visiting Copenhagen to brainstorm values-based banking with peers across the globe.
And then there’s the extraordinary people I’ve had the privilege of meeting over this time. Vancity staff, credit union people, co-operators from across the globe, people doing remarkable and inspiring things here in my community. That has been the greatest gift of all.
So here’s to ten great years. I embark on the next ten years with enthusiasm and commitment, and am completely excited about the road ahead…
Last summer, three rural and remote communities in BC lost their financial institutions. In these days of the populace being (understandably) angry at banks, we sometimes overlook the need for a community to have a local banking option. Without the presence of a local financial institution, people have to leave their communities to do their banking.
Last summer a small group of us at Vancity (including Stewart Anderson, our Community Investment Manager accountable for Aboriginal Partnerships) started talking to the ʼNa̱mǥis First Nation and the Village of Alert Bay on Cormorant Island, off the coast of northern Vancouver Island. We saw that their local economic resilience was severely damaged without a local FI. People were forced to take an expensive ferry ride off-island every time they needed to do their banking (or help their elderly parents do their banking). This took up a good chunk of their productive day. It also took more money than you might guess out of the local economy. When people have to leave the island for their banking, they’re pretty likely to get their hair done, pick up their hardware and groceries, or fill up with gas while they’re in a bigger city.
Without a local banking option, fast forward, say, ten years and the community will see many businesses shutter, and the number of tourists decline. Small communities can’t afford that. Honestly, no one can.
We began working on a mutually beneficial arrangement that could sustainably support the needs of the community. In the ʼNa̱mǥis First Nation and the Village of Alert Bay, we found great partners with whom we knew we could build a strong partnership based on reciprocity – a partnership steeped in the co-operative principles.
On May 20th we opened our 59th branch on Cormorant Island, striking up an important partnership between Vancity, the ʼNa̱mǥis First Nation and the Village of Alert Bay.
What makes us think we can support a rural and remote community when others haven’t been able to? It can be summed up in one word: Intentions.
If our intentions are to put maximizing our profits above anything else and run each branch exactly the same regardless of the unique community needs in which it exists, then I would predict our success to be low. We began instead with asking our potential partners, “What do you need?” We kept our focus on the needs of the community and then brainstormed how we might serve their needs. We never lost sight of the ultimate prize, which was local economic resilience on Cormorant Island. With that in mind, we then figured out how to solve their problems while still earning a return from the arrangement.
This isn’t about a hand out. This is a hands-together model. If this was charity, then it would result in a relationship with an asymmetrical power dynamic. This would lead to failure, I am sure, especially given the horrible history of how the First Nations have been treated. It would also create the risk that if the branch lost money continuously, at some point Vancity could decide to change direction.
Time will tell if our business case was correct and whether we can run the branch and serve the needs of the community sustainably for all partners involved. I certainly believe we’ve got the right ingredients for tremendous success and support for a community that requires independent economic resilience. I know we’re going to learn a lot from doing things differently in the process.