Christine Bergeron stepping down as Vancity Group President and CEO

TERRITORIES OF MUSQUEAM, SQUAMISH AND TSLEIL-WAUTUTH NATIONS and VANCOUVER British Columbia, April 25, 2023 (GLOBE NEWSWIRE) -- After holding leadership positions at Vancity for 12 years, including as president and CEO, Christine Bergeron will be stepping down to take up a new role as CEO of Concert Properties. Christine will continue with Vancity until mid-July 2023, and in the coming weeks, Vancity's Board of Directors will name an interim president and CEO.

Since joining Vancity in 2011, Christine Bergeron has made significant contributions to the company's growth and mission. As CEO of the Vancity Group since 2020, she has reinforced the organization's commitment to its values-driven mission of advancing climate action, equity, and building resilient communities. Under Christine's leadership, Vancity has been a pillar of support for its members and communities during the Covid-19 pandemic and the crises related to climate change and affordability.

Vancity has achieved several notable milestones under Christine's leadership that highlight the organization's commitment to social and environmental impact, including:

• Becoming the first financial institution in Canada to announce a net-zero financed emissions target for 2040, disclosing its financed emissions and setting interim climate targets;
• Being the first financial institution in Canada to offer its members a way to estimate the CO? emissions that come from their purchases through the Vancity Carbon Countertm;
• Launching several programs to support women and black entrepreneurs;
• Requesting and implementing an organization-wide equity audit;
• Committing to the Progressive Aboriginal Relations (PAR) certification program to continue its Reconciliation journey;
• 2021 and 2022 were the most profitable years in Vancity's history, and its Total Impact Assets (how much capital is allocated towards addressing key social and climate challenges), increased by 37% ($3.0 billion).

Rita Parikh, Chair of Vancity's Board thanked Christine for her contributions: "Under Christine's leadership, Vancity has undergone a remarkable transformation, extending our legacy as a leading force for social and environmental impact. Her unwavering commitment to Vancity's values and purpose has strengthened our organization's culture and laid the groundwork for continued success."

"As Christine prepares to take on her new role at Concert Properties, we are confident in the strength of Vancity's leadership team and the enduring impact of her legacy," continued Rita.

"I am immensely proud of the progress we have made together towards creating a cleaner and more equitable world for our members and local communities," said Christine. "Vancity's unique culture and values, embodied by our dedicated employees and members, have been instrumental in driving change. I am grateful for the support of the entire Vancity team throughout my time and I look forward to working alongside Vancity in continuing to build sustainable, resilient and thriving communities."

Vancity's Board of Directors will name an interim CEO in the next several weeks and will take the time needed to select its next leader while ensuring the credit union continues to deliver exceptional service, stability and impact to its members and the community.

About Vancity

Vancity is a values-based financial co-operative serving the needs of its more than 560,000 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 $34 billion in assets plus assets under administration, Vancity is Canada's largest community 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.

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