Vancity reviews

3.3

55% would recommend to a friend

(634 total reviews)

Christine Bergeron

53% approve of CEO

50% positive business outlook

Vancity has an employee rating of 3.3 out of 5 stars, based on 634 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Vancity employee rating is in line with the average (within 1 standard deviation) for employers within the Finance industry (3.7 stars).

Reviews by job title

634 reviews
2.0
Apr 25, 2017

Dysfunctional Senior Management

Recommend
CEO approval
Business Outlook

Pros

Generally good work life balance, benefits package and friendly work environment (if you are not part of the senior management poisonous environment). If you just want a paycheck, there are worse places.

Cons

Dysfunctional senior management team and toxic environment at the senior levels. Lots of senior management positions occupied by individuals with no relevant experience or technical expertise but have been promoted because their face (which more often than not is female) fits. Despite protestations to the contrary and frequent exhortations for honesty and transparency, there is a strong aversion to bad news (for example when things went wrong with the launch of the new banking system) and intolerance of views which are not aligned with the CEO's and her cabal of advisors. As a consequence, there is a religious cult like environment where only one version of the truth is tolerated. Proximity to and finding favor with the CEO and her close cabal of advisors is the key to progression and promotion. Leadership, management and technical competence or experience is not a requirement for the job (Q: which major financial institution in Canada has a CFO who is not a designated accountant and incredibly, does not even report into the CEO and therefore is not part of the executive team ?) It's an almost surreal situation whereby a great experiment is being conducted to see how many incompetent individuals can be put into senior positions before the business is run into the ground. The real unsung heroes in the organisation are the middle and lower management staff who run around like headless chickens trying to keep the ship afloat and trying not to implement the latest ill thought through initiative from the most recent senior management groupthink session without actually appearing to do so (Strategic 2020 Plan anyone ?). Staff morale is low and after several years of trying to get staff engagement levels up without success, senior management decided to do away with engagement surveys, dismissing them as not a useful tool for measuring engagement ! If you just want a paycheck every two weeks, there are worse places to be but be prepared to drink the Kool Aid, and lots of it. If you want to work somewhere where you get to grow and develop and are given opportunities based on merit and doing a job well, this is not the place.

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Vancity Response
8y
Thank you for sharing your thoughts. I’d like to address some of your feedback with a few facts. Through the CEO Townhall series that we launched this year, Tamara has met with more than 600 employees so far, with more to come this Fall. She’s also been available for 1-on-1 meetings. And speaking from personal experience, I can tell you that she is very open to different opinions. If you chose not to participate in one of the Town Hall meetings, I hope you participated in the employee engagement survey or one of the follow-up Yammer chats or town hall meetings. These are all avenues for you to share your feedback so that we can begin to address key issues. Finally, it’s true that it can be difficult to move up in organizations; that’s why Vancity has been trying to create different ways for staff to take on new challenges. I hope you’ve put up your hand for programs such as the Explorer Network and the expanded Leadership DME program.
1.0
Jan 8, 2019

New year, same mess

Recommend
CEO approval
Business Outlook

Pros

Very loyal and understanding member, especially after the October system outage. Majority of employees who care deeply about their members. Last remaining company to still offer a defined benefit pension plan, with decent health coverage and adequate compensation.

Cons

Ive held off from writing this review for over a year now, but can't keep this bottled up any longer. I'm sure this will resonate with a lot my fellow employees, so here goes: Our CEO is a visionary, but delegates decisions to a senior leader whose strategic ideas are too theoretical and lack any consideration on how to actually implement them. Try reading any of the long-winded documents written by our Strategy team. We have stopped listening years ago. Aside from a small handful of people leaders, there is very little respect for any of the current leadership. Several of the branch management are promoted because of who you know and most leaders seem to be out of step with one another. In recent years, we've been operating out of fear of speaking out against the norm, especially at the quarterly manager's meetings. Some of these “high performing leaders” do it at the expense of others, and lead simply by their titles. They would have a hard time asking anyone to listen or help them without those titles. I am a people leader and am embarrassed at how poor our managers have become! All decision making is slow and painful, with most decisions bottled-necked at the senior leadership level, who then ultimately defer to the CEO. So, I'm unsure what my director and VP does. My assessment after 10 years here is that we simply lack focus and execution now. Just look at the long list of unfinished projects and ideas generated by innovation teams and network explorer groups. Hundreds of employees have spent countless hours on proposals, which have ultimately led nowhere. We have also created a handful of entitled teams that have special work/projects, but have absolutely no output to show for. Some of these teams were temporary and disband after a few months, others are still exist and have more than enough resources who are practically doing nothing. Finally, the updated banking system is simply inadequate. It now takes more time for my branch staff to complete a transaction with our members and I understand there is exponentially more admin work for our back office staff. There was no accountability for the teams who were responsible for the business requirements and designing the system. In fact, I know that most were even rewarded with new roles and even promotions. Let's not get started on the extra hours we had to put in during the October outage. Again, no accountability whatsoever.

5.0
Jul 14, 2017

An amazing place to work!

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Vancity is a company going through transition to put more and more resources towards positive impact in the community. Exploring new ways to engage staff in different ways of working. Trying to balance being a regulated financial institution with staying true to co-operative, community roots.

Cons

As an organization going through transformation, things can be confusing, work and projects can change, some directions will get shifted. Management is working to get better at honest feedback and talent development. Lots to improve on, but lots of good things happening.

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Vancity Response
8y
Thank you for sharing, and we're thrilled to hear you're enjoying your time here at Vancity! There are a lot of upcoming initiatives, but you're right - with so much going on, it can be overwhelming. While I don't think we'll ever be an organization that doesn't have a lot going on, we'll always look to improve how we get our work done.
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