Vancity Increases CHIP Rate for Member Co-ops

  4 March 2022

CHF BC’s Co-operative Housing Interest Pool (CHIP) with Vancity provides member co-ops with above-market interest rates on their operating accounts. Almost 154 co-ops have combined deposits of more than $140 million in the pool.

The Bank of Canada increased the key interest rate on March 2, 2022 to control inflation that is costing consumers more for food, gas and building materials. Financial institutions are slowly increasing lending rates to bring stability to the financial sector and cool the red hot real estate markets across Canada.

In response, Vancity has increased their CHIP rate to 0.85% from the previous 0.60%. This notable increase on the CHIP rate paid to CHF BC members and will have a material impact on their finances. As rates are rising, a CHIP rate of 0.85% is good news for co-ops as it provides above-market returns on operating and savings accounts and continues to create value for CHF BC membership dues.

Vancity’s posted rate for similar accounts for co-ops not belonging to CHF BC is 0.10%—a difference of 0.75%. 

This CHIP summary (pdf) provides more information about the program’s benefits and features.

If you have any questions about CHIP or any other group buying program, please contact our Commercial Services Director, Arnold Sang. He can be reached by phone at 604-343-2355 or by email at