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Deposits held by Servus Credit Union are insured by the
Alberta Credit Union Deposit Guarantee Corporation. This guarantee is more extensive than the $ 100,000 insurance carried by banks in Alberta because all deposit amounts are fully guaranteed, including accrued interest to the date of payout, and
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As a credit union Servus does not have shareholders, rather to do business with Servus customers must become members of the credit union. Member-ownership in Servus Credit Union is represented by the purchase of Common Shares, and this is required to open an account with the financial institution.
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Servus was created through the merger of several smaller regional credit unions in
Alberta, the largest being Capital City Savings & Credit Union, based in Edmonton, which was formed in 1938. The various branches, however, have separate histories going back to 1937.
394:. The company provides a complete line of financial services including: loans, deposits, investments, telephone and online banking, ATMs, debit and credit cards, financial planning, insurance, trust, agricultural and commercial services.
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The total amount of profit share paid to members is based on the credit union's financial performance each year. The Board of
Directors determines the total profit share pay out at the end of the company's fiscal year (October 31).
301:. Servus has around 380,000 members, who are served by nearly 2,400 employees from 100 locations in 59 communities across Alberta and as of 2021 has $ 17.2 billion in assets under its administration.
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Patronage: Cash payments based on a percentage of the interest the member paid on loans and earned on deposits, plus the average balance they hold in their chequing and savings accounts.
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Profit sharing is paid to members in both cash and common shares, based on how much profit the company earns and how much its shares are worth. The Profit Share program has three parts:
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this includes chequing and savings accounts, RRSP deposits, RRIF deposits, foreign currency deposits, and term deposits, including those with terms exceeding five years.
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On
November 1, 2008, Servus Credit Union became Canada's first province-wide credit union when it amalgamated with Community Savings and Common Wealth Credit Union.
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Instead of paying profits to shareholders, the company shares its profits with members, and paid out $ 54.1 million through its profit sharing program in 2018.
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Global Co-operator Award, which recognizes people or organizations that help support the development of co-operatives internationally (2015)
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As of July 4, 2019, Servus reported assets of $ 16.4 billion, and a net income of $ 22.7 million (after dividends, patronage and taxes).
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Servus Credit Union's Board of
Directors consists of 12 members from around the province, elected by the credit union's membership.
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Investment share dividends: Dividends paid as additional investment shares that may be redeemed in cash.
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Membership includes the right to democratically elect and run for a position on the Board of
Directors.
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Member of the
Platinum Club of Canada's 50 Best Managed Companies eight years running (2009-2017)
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Highest rated financial institution in the 2015 Alberta
Venture Customer Service Survey
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Credit Union of the Year as awarded by
Alberta Central at the 2014 AGM and Conference
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Common Share dividends: Common share dividends are paid as additional common shares.
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321:(or Servus Place for short), a multipurpose leisure centre in the city of
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558:. Canadian Credit Union Association. March 18, 2015. Archived from
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In September 2023, Servus members voted in favour of merging with
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is a member-owned, community-based financial institution based in
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Based in Edmonton, the credit union also has regional offices in
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908:"The Alberta Venture Customer Service Survey - Alberta Venture"
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The Delton branch of Servus Credit Union in Edmonton
46:. Unsourced material may be challenged and removed.
1677:Financial Services Regulatory Authority of Ontario
528:"Servus Credit Union - Vision, mission and values"
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662:"Servus Credit Union Place / City of St. Albert"
549:"Largest 100 Credit Unions / Caisses Populaires"
830:"ACCA | AGM marks credit union trends for 2014"
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782:"Credit union deposit guarantee corporation"
734:. Servus Credit Union Ltd. January 31, 2017
483:. Servus Credit Union Ltd. January 31, 2021
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806:"Servus Credit Union - Board of Directors"
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701:"ConnectFirst and Servus merger proposed"
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106:Learn how and when to remove this message
858:Deloitte Canada's Best Managed Companies
643:. Servus Credit Union Ltd. July 31, 2016
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289:, and in 2015 became the second-largest
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1672:Canada Deposit Insurance Corporation
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44:adding citations to reliable sources
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1630:Business Development Bank of Canada
933:"Servus Credit Union - Performance"
699:Singleton, Dan (October 29, 2023).
585:"Canadian Credit Union Association"
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1210:Canadian Imperial Bank of Commerce
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1352:Vancity Community Investment Bank
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297:and the largest credit union in
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676:"Servus 2013 Annual Report"
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762:. Servus Credit Union Ltd
618:. Servus Credit Union Ltd
461:. Servus Credit Union Ltd
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1347:President's Choice Bank
1337:National Bank of Canada
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1307:Exchange Bank of Canada
854:"Platinum Club members"
680:annual-report.servus.ca
1342:Peoples Bank of Canada
1275:Bank of China (Canada)
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317:officially opened the
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1396:Federal credit unions
1285:Canadian Western Bank
1244:Toronto-Dominion Bank
1052:Canadian Western Bank
711:Great West Newspapers
530:. Servus Credit Union
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55:"Servus Credit Union"
1222:Royal Bank of Canada
1097:Lone Pine Publishing
136:Capital City Savings
40:improve this article
1436:BlueShore Financial
1270:AMEX Bank of Canada
1117:Servus Credit Union
760:Servus Credit Union
616:Servus Credit Union
459:Servus Credit Union
323:St. Albert, Alberta
279:Servus Credit Union
252:Number of employees
192:Number of locations
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119:Servus Credit Union
1640:Farm Credit Canada
1562:Desjardins Ontario
1451:Envision Financial
1280:Canadian Tire Bank
706:St. Albert Gazette
402:Board of directors
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1215:Simplii Financial
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1132:Triple Five Group
1002:-based businesses
914:. Alberta Venture
889:. Alberta Venture
883:"The Venture 250"
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181:Edmonton, Alberta
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