Ep. 034: What Role Do Banks Play In Shaping Economy?

Guest: Tamara Vrooman, VanCity

What role do financial institutions play in shaping the community we call home?

Tamara Vrooman, the past President and CEO of VanCity Credit Union, says, “We think about the kind of society and the kind of community and the kind of economy we want to create. We think about the allocation of capital, who gets money and who doesn't. It's probably one of the most powerful determinants of the future.”

Vrooman goes on to say, “If we give capital to a small business or a group of entrepreneurs locally, as opposed to allocating capital to a multinational that may just be coming here for a few years and moving on, it makes a profound difference to the quality of life and the future structure and viability of our communities. So we think banking's vitally important to communities and society, not just economies and finance.”