Our 2022 annual report

Power your possible^TM

Welcome to Gulf & Fraser’s 2022 annual report. Read about our year of growth and the ways we cared for our credit union family and community roots.

Reflecting on 2022

A message from the Board Chair and Co-CEOs.

Our 2022 highlights

We grew to new levels in 2022. We merged with two established and community-oriented credit unions — VP and Mount Lehman — and expanded our reach and outreach. We rebranded, changing our name to Gulf & Fraser*, opened new branches and are building more to come; we hired new employees, created new digital platforms and products in partnership — all the while building up our community through our giving channels.

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Our members

At Gulf & Fraser, we’re making banking easier for you. In 2022 we launched our new line of simplified spending and saving accounts which we co-designed with members. We introduced new benefits, including our Smart Money Score allowing members to self-assess their financial wellness and our Member Rewards Program. Members shared their feedback, letting us know that the service from our investment specialists was excellent and that they appreciate our flexibility and support for the community. Together, let’s Power your possible™.

Our community

Our growth allows us to help others grow too. In 2022, we gave $1,369,089 to community.

Our employees and sponsors contributed $193,960 to our three major fundraising campaigns: BC Children’s Hospital Foundation, United Way of the Lower Mainland and Zajac Ranch for Children. We also gave $150,000 to Boundary region communities, $100,000 through our employee-led holiday season Gift of Giving initiative, $20,000 to Ukrainian aid through the Red Cross, $15,000 towards hurricane relief efforts in Newfoundland and $48,286 in educational awards.

Our employees

This year will be remembered as a time of change and opportunity at Gulf & Fraser. We invited 27 staff from our merged partnerships, and another 120 new hires, to herald in greater innovation and representation across our credit union.

We thank our employees for their time and dedication as they learned and developed. We created a change advocacy group called Momentum to ensure our employee’s voices are heard — not just at our credit union — but across the credit union cooperative system. We also encouraged those under 40 to get active in collaborative leadership through our INSPIRE network and to give back to our communities by volunteering and offering financial wellness workshops.

Branching out to serve you best

Community is our backbone. It’s why we build welcoming spaces so our members and employees can connect and learn from each other. In one calendar year, we’ve opened three new branches — and now serve our members at 27 locations across Metro Vancouver. Our newest branch is at Guildford in Surrey — and has 2,000 square feet to host an array of financial wellness and fundraising events. In 2023, we’re ushering in more connections with a new branch in Vancouver’s Oakridge area and renovating others in Mission and Aldergrove.

Growing for future generations

Whether it’s through our Gulf & Fraser Foundation, charitable giving, internal fundraising, employee volunteerism, in-kind support or education awards — we give so others can give too.

This year, we supported over 60 causes. Here are just a few of them: Abbotsford Youth Health Centre in Abbotsford, Access Youth Outreach Services in Coquitlam, Downtown Eastside Neighbourhood House in Vancouver, Khalsa Aid Canada in Richmond, Tri-City Transitions Society in Port Coquitlam and New Westminster Animal Shelter.