After watching the video about Save on Meats in class, I realized that I had been a member of Vancity Credit Union for almost eight years with no real knowledge of what they did and what kind of initiatives they funded (potentially with my money).

Today, I took a closer look. More specifically, I examined what Vancity was doing in terms of helping small businesses and social ventures like Save on Meats. It turns out that Vancity has assisted more than 800 BC entrepreneurs with over $13 million in small business and start-up financing. The difference between them and other banks though, is that they approve loans based on “entrepreneurial drive, the strength of the idea and the potential of your business plan, instead of just your credit history and collateral”.

As for social ventures, they started a program called Resilient Capital in 2011. On there missions page, President and CEO Faye Wightman perfectly sums up the allure of social enterprise:

“There are many philanthropists who want to go beyond simply donating money to good things. The idea that they can now support local projects — with high social and environmental impact — while also making a return on their investment, is a perfect way to help them expand their support of the community.” 

This research brings everything I’ve learned in class today into a much more personal territory and just goes to show how easily people can get involved in social change–sometimes without even knowing it.

I’m glad I’ve been banking with Vancity.