[2] Vancity began operations in 1946 as an open-bond credit union in Vancouver, British Columbia, Canada.

Through wholly owned subsidiaries, Vancity also operates foreign exchange, life insurance, Visa credit cards, real estate development, and investment advisor services.

Through its subsidiaries Citizens Bank and Vancity Community Investment Bank, Vancity was formerly a major issuer of prepaid reloadable Visa and non-reloadable cards which were branded for various resellers, including Arctic Co-Op[20] and Canada Post.

[21] The high fees and expiry dates associated with the cards were the subject of a class action suit which named Peoples Trust Company, Peoples Card Services Limited Partnership, Peoples Card Services Ltd., Vancouver City Savings Credit Union, Citizens Bank of Canada, Amex Bank of Canada and All Trans Financial Services Credit Union Limited among its defendants.

[23] The Canada Post / Zenwallet prepaid Visa did return to the market in October 2022, but with Peoples Trust as the issuing institution.