2021 Annual Report


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We will be the leaders in building relationships that improve financial health, enrich people's lives and build healthier communities.

Member/Client Experience

  • We will be the leaders in building strong relationships, by being more helpful and caring, and improving financial health.

Employee Experience

  • We will be the leaders in creating an environment where we say great things, do great things, and where we want to stay.

Community Experience

  • We will be the leaders in making a visible and meaningful difference in building healthier communities. Our communities are our home.

Accountability, Cooperation, Excellence, Innovation, Integrity, Responsiveness, Social Responsibility

Hear from Adrian Legin,
President and CEO

We will continue to listen very carefully about how we can be more helpful in educating and providing ways for people to improve their financial health.

Hear from Evelyn Clark,
Board Chair

I come to this work with a great deal of gratitude. This is a strong organization. This is a flexible organization. It is innovative. There are many many talented people who make this place a great success.

Our Member and Client Experience

Whether we were innovating to meet your evolving needs or helping you through uncertain times, our focus was supporting you now and over the long term.

Service Enhancements

Improving service delivery

To help you manage your finances safely and securely, we made it even easier to access the services you need.

Launched Insurance Connect to give you 24/7 access to the features you need

Expanded self-serve appointment booking options for your convenience and added automated loan booking

Launched CeeCee, our new digital concierge to answer simple questions online

Brought Interactive Teller Machines to Tofino and Ucluelet

Redesigned our Quadra location, relocated our Gabriola Insurance office and moved the Nanaimo Business Centre to our Harbourfront location to offer more efficient integrated services

Launched a fully refreshed website for our wealth management division

Meeting your needs

Providing innovation, expertise and advice

Through another year of continued challenges and opportunities, we stepped up to help our members, clients and communities recover and grow. Our Coastal team:

Worked closely with local businesses to help them manage cashflow through the uncertain times

Helped over 100 clients recover from unprecedented floods in fall of 2021

Hosted 10 Virtual Member Education events to improve financial health

Launched our Retire Ready quiz on everythingretirement.com

Helped approximately 2,000 people last year get a personalized snapshot of their financial health through our Financial Health Quiz

Approved 74 new Canada Emergency Business Account loans and upsized 502 more, injecting more than $14 million into our regional economy

Listening to you

What matters to you matters to us

Thank you for giving us feedback on how we are doing in our quarterly surveys. Your input helps us know how to strengthen our approach to better meet your needs. Here are some areas you've let us know are stable, some that have improved and some that we can address going forward.

Stable results

Eight-in-ten continue to give CCCU high scores on member experience

Improving results

Both CCIS and PWG saw great improvements across their key metrics

Areas to address

Scores for our digital channels have decreased, highlighting our need to modernize these touchpoints

CCCU Member Survey

Here are some of the top results from Coastal Community's Member survey and our Coastal Community Insurance Services (CCIS) and Coastal Community Private Wealth Group (CCPWG) client surveys.

CCCU Member Survey

of respondents served in branch said we helped with their banking needs

CCIS Client Survey

of insurance respondents found us easy to use

CCPWG Client Survey

of respondents gave favorable ratings about their advisor providing advice that improves financial well-being

Overall, we are very happy with CCCU. We are actually in the process of working with CCCU to update our mortgage and a 2nd product to consolidate some debt and make an investment. We want to move more of our business over to CCCU, would love to see some tech updates to site, app, and Apple Pay. I would also like to have the CCCU financial advisors or account managers be proactive in helping us achieve our financial goals.”

Quote taken verbatim from Coastal Community's 2021 Member and Client Experience survey

Employee experience

To give our employees optimal conditions to excel, we worked hard to enhance our award-winning workplace culture while intensifying our efforts in some key areas.

Asking, Listening & Involving

2021 CCCU Member & Client Surveys

  • Financial health survey launched to better understand employees' feelings regarding their own financial situation
  • Employees continued to participate in ThoughtExchanges to help inform a range of corporate and departmental initiatives
  • Financial health survey launched to better understand employees' feelings regarding their own financial situation

Providing Enriching Opportunities

Providing learning & growth opportunities

  • Employee pilot of an interactive learning tool focused on helping users improve their financial health
  • Employees continued to participate in professional development programs including Harvard-designed business courses and those through Coastal Academy
  • The Diversity, Equity & Inclusion Committee helped inform both Coastal Community's Indigenous Land Acknowledgement and the greater conversation surrounding Canada's first ever National Day for Truth and Reconciliation

Building An Engaging Workplace

Building an engaging, fun & healthy workplace

  • Launched a new online recognition program called BucketList. In the course of a few weeks post-launch, employees logged over 2,400 peer recognitions
  • Despite the constraints of the pandemic, we celebrated our 75th year in business with an extra special token of appreciation given to all employees
  • Continued to ensure a safe and healthy working environment, while encouraging employees to use the extensive resources of our Employee Assistance Program, HumanaCare, to strengthen their own resiliency

Sharing Our Expertise

Sharing our wealth of expertise

  • Experts from our Wealth Management team helped lead our highly successful virtual education events created for members and clients
  • Employees continued to showcase their financial expertise in our guest column featured in the Business Examiner
  • A campaign aimed at helping employees share their financial health success stories saw huge social momentum on our internal newsfeed. Some of their stories were spotlighted on our new employee podcast, Taking Care of Business

The rich and diverse communities that we live in should be reflected in our employee base so that we have common ground to build relationships. In 2021, one of the things I am most proud of is the support for the DEI Committee at all levels and from all divisions of Coastal Community. It speaks volumes that we are welcomed. We have achieved some wonderful things, with more planned for the future. Although it's unfortunate that, as a society we need this kind of committee, I'm proud that we're planning, growing and learning with all of our peers.”

Morganna Clarkson, Senior Operations Service Representative and Coastal Community Diversity, Equity and Inclusion Committee member

Community Highlights

Over $500,000 given to hundreds of community organizations, including:

awarded to 26 community organizations through the Relief and Resiliency Fund

Over $7,000
raised for the Children's Health Foundation through drive-in movie nights with Fortis

Q̓ʷalayu House in Campbell River

Over $100,000
given in corporate sponsorships to benefit communities across the islands

given to HeroWork Victoria to support the renovation of an Indigenous charity's building

in total given in flood relief to United Way British Columbia and the Canadian Red Cross

Cheque presentation to the United Way British Columba

Our employees volunteered
thousands of hours
of time and expertise to causes they care about

CCCU deeply cares about our Island communities, and we want to thank them for their incredible $15,000 donation in this time of need. Their contribution to flood relief will help us address important social needs like shelter, food assistance, trauma and mental health supports, and the rebuilding of social infrastructure—and will stay right here on Vancouver Island.”

Signy Madden, Regional Director, United Way British Columbia - Central & Northern Vancouver Island

Environment, Social and Governance Highlights

Building relationships with the broader community.

ESG can be defined as the inclusion of Environmental, Social, and Governance criteria in business or investment decisions for the long-lasting benefit of clients, partners, stakeholders, and society at large.”

Forrester, Feb 2021

As a local and regional Credit Union and financial cooperative, Coastal Community has been connected with our communities, and made decisions and taken action to help strengthen our broader communities for decades.

Coastal Community's place and relationship within our broader community is reflected in and driven by our corporate vision and values. Our Vision is to be leaders in building relationships that improve financial health, enrich people's live and build healthier communities. Social responsibility is the core value that most directly speaks to our commitment to our broader community, although all our core values of accountability, co-operation, excellence, innovation, integrity, responsiveness and social responsibility are relevant.

Over the years, Coastal Community has delivered and supported many initiatives under the Environment, Social and Governance areas, as well as made decisions based on these factors. As captured in other areas of this Annual Report and our Corporate Governance Report, we continued to deliver on a wide range of ESG areas over 2021. We understand, however, that there remains much to be done in these areas.

In 2021, the Board of Directors and senior management began work on ESG more specifically and formally. We embedded our commitment to ESG in our 2022-2025 Three-year Corporate Strategy, which involves formalizing our commitment, focusing our efforts, and increasing our measurement and reporting on ESG.

As part of the 2022 annual plan, we are committed to start developing a formal ESG strategy. This work will involve important and valuable engagement with our members and employees, while being rooted in our vision, purpose, values and key strategies.

The following is a snapshot of some of our current initiatives and activities relating to ESG.

Environmental highlights:

  • Reducing our environmental footprint by reducing our electronics, using more cloud-based solutions and reducing carbon emissions
  • Reducing the use of paper through e-Statements, paperless electronic onboarding, and application processes with digital options
  • Ensuring our building renovations include energy efficient upgrades and responsibly sourced products

Social highlights:

  • Improving financial health through education, products, services, programs, advice and tools
  • Strengthening island economies through support for small businesses, and ongoing community engagement including sponsorships, donations, scholarships, fundraising efforts and employee volunteerism
  • Supporting our Diversity, Equity and Inclusion Committee, made up of employees from throughout our organization

Governance highlights:

  • Continuing to strengthen Board Governance in all areas of oversight (see separate Corporate Governance Report for more)
  • Progressing Coastal Community's diversity and inclusion practices within our organization
  • Following reporting, disclosure and transparency requirements through corporate reporting, and product and service disclosures and consents

Spotlight on
HeroWork Victoria

As a step forward on the path to reconciliation, Coastal Community donated $10,000 to HeroWork Victoria to support their renovation of Indigenous Perspective Society's building. We also had a team of volunteers pull on their work gloves for a day to help with the transformation to a more culturally relevant and efficient space.

Corporate Performance

Your Coastal Community remains a strong, growing and socially responsible organization.

$3.27 Billion
On-Book Credit Union Assets

$4.25 Billion
in Assets Under Management

0.56% Return
on Average Assets

Thank You

Coastal Community Credit Union acknowledges that we are located on the Lands of the Coast Salish, Nuu-chah-nulth and Kwakiutl ancestors and families, whose historical relationships with the Land continue to this day. We are grateful to have the opportunity to live, learn, work and play in their traditional and unceded territories.

Through all of the disruptions of the last year, Coastal Community remains well-positioned for the future with a robust balance sheet and solid earnings. These achievements are a reflection of our focus on your goals, dreams and constantly evolving challenges. Thank you to our members, clients and communities for your trust in us and allowing us to serve your needs for the past 75 years.