A Vancouver credit union was named among the best banks in the country in Forbes’ 2026 World’s Best Banks ranking.
Forbes’ eighth annual list was in partnership with market research firm Statista. Together, they surveyed over 54,000 people in 34 countries and 17 languages.
“From October 2025 to November 2025, survey participants were asked to evaluate banks where they currently have a checking or savings account, where they’ve had an account within the past three years, or that they knew through family or friends,” Forbes said of its ranking.
Forbes says that a rise in digital-only banks is reshaping the banking industry.
“And yet, there are many customers who still need the connection of a brick-and-mortar branch,” it adds.
Vancity, the credit union, was the Vancouver institution named among the best in Canada, ranking fourth overall in the country. While Vancity offers comprehensive digital banking, there are still physical locations folks can access for a more personal experience.
Forbes says that Vancity, founded in 1946, has $28.2 billion in assets plus assets under administration. It also hails Vancity as Canada’s largest credit union. Forbes also calls Vancity a “values-based financial cooperative.”
“Vancity has upwards of 3,000 employees and is Canada’s largest private sector Living Wage Employer, meaning they pay all company employees and contracted workers at least $20.68 ($15.08 USD) per hour,” Forbes says.
Vancity recently upgraded its online tools as the website boasts that it has introduced an “all-new digital experience to help you manage your money with ease.”
Vancity was in the news last year as it received regulatory consent in hopes of finalizing a proposed merger between itself and First Credit Union (FCU).
“The proposed merger is a strategic, values-driven partnership driven by a shared vision to preserve and enhance community cooperative banking across the province,” a release on the proposed merger stated last year. Once the merger is finalized, the two institutions will have a total of over 585,000 members.
Another credit union headquartered in Penticton, Envision Financial, also made the list, ranking sixth. Envision touts itself as a 100 per cent member-owned institution. It is also currently offering a $200 referral bonus.
Envision was also founded in 1946 and has just over 1,200 employees.
The top three banks in Canada were Tangerine (Toronto), Simplii Financial (Scarborough) and National Bank (Montreal).