Vancity Credit Union’s first issuance as a publicly rated financial institution has sold out in 24 hours.

The issuance of a $200 million commercial paper program was met with a positive response from the investment market.

“Interest in our program has been overwhelming,” said Ray Hama, Vancity’s vp of treasury. “Given the demand, it shows that, not only did we enter the market at the right time, but the take up of our commercial paper by the investment community across Canada certainly supports the Vancity name and our reputation as a leading financial institution.”

The credit union said this program will help Vancity continue to meet its members’ and communities’ financing needs.

Last month, Vancity became the first member-owned retail credit union in North America to be publicly recognized with an investment grade financial short-term credit rating from Dominion Bond Rating Service.

Vancity is Canada’s largest credit union, with $9.3 billion in assets, 305,000 members, and 41 branches throughout Greater Vancouver, the Fraser Valley and Victoria. It also owns Citizens Bank of Canada.