Servus Credit Union
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|Headquarters||Edmonton, Alberta, Canada|
|Total assets||$14.2 billion CAD (2015) |
Number of employees
Servus Credit Union is a member-owned, community-based financial institution based in Edmonton, Alberta, and in 2015 became the second largest credit union in Canada and the largest credit union in Alberta. Servus has nearly 400,000 members who are served by close to 2,400 employees from more than 100 locations in 62 communities across Alberta and as of 2015 has $14.2 billion in assets under its administration.
Servus was created through the merger of several smaller, regional credit unions in Alberta, the largest being Capital City Savings, based in Edmonton, which was formed in 1987. The various branches, however, have separate histories going back to 1937.
On November 1, 2008, it became Canada’s first province-wide credit union when it amalgamated with Community Savings and Common Wealth Credit Union.
As a credit union Servus does not have shareholders, rather to do business with Servus customers must become members of the credit union. Instead of paying profits to shareholders, the company shares its profits with members, and paid $50 million to individual members through its profit sharing program in 2014.
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 this includes chequing and savings accounts, RRSP deposits, RRIF deposits, foreign currency deposits, and term deposits, including those with terms exceeding five years.
Board of Directors
Servus Credit Union's Board of Directors consists of 12 members from around the province, elected by the credit union's membership.
2015 Servus Credit Union Board of Directors: Dianne Brown, Ken Cameron, Amy Corrigan, Perry Dooley, Iris Evans, Doug Hastings (Board Chair), Jonathon Holt, John Lamb (Vice Chair), Darcy Mykytyshyn, Simon Neigum, Penny Reeves, and Alison Starke.
Executive Leadership Team
- Garth Warner, President & CEO
- Yves Auger, Chief Information Officer
- Dan Bruinooge, Chief People & Corporate Services Officer
- Ian Glassford, Chief Financial Officer
- Darcy Peelar, Chief Credit Officer
- Gail Stepanik-Keber, Chief Brand & CSR Officer
- Caroline Ziober, Chief Operating Officer
- Taras Nohas, Vice President Strategy & Governance
Credit Union of the Year as awarded by Alberta Central at the 2014 AGM and Conference
Member of the Platinum Club of Canada’s 50 Best Managed Companies five years running (2009 - 2014)
Member of the Venture 250, which recognizes Alberta’s highest grossing companies
As of April 30, 2015, Servus reported assets of $14.2 billion, deposits of $12.5 billion, loans of $12.5 billion, and $30.3 million in income (before patronage and income taxes).
- Management’s Discussion and Analysis For the year ended October 31, 2014
- "http://www.cucentral.ca//_layouts/download.aspx?SourceUrl=http://www.cucentral.ca/FactsFigures/top100-4Q14_18-Mar-15.pdf" (PDF).
- "https://www.servus.ca/about-servus/our-organization/performance/Documents/MDAwithFS-2014.pdf#page=3" (PDF).
- "https://www.servus.ca/about-servus/our-organization/performance/Documents/Servus-2015-Q2-financial-statements.pdf" (PDF).
- "Servus 2013 Annual Report". annual-report.servus.ca. Retrieved 2015-09-16.
- "https://www.servus.ca/about-servus/our-organization/performance/Documents/Chair-message.pdf" (PDF).
- "CREDIT UNION DEPOSIT GUARANTEE CORPORATION". www.cudgc.ab.ca. Retrieved 2015-09-10.
- "Servus Credit Union - Board of Directors". www.servus.ca. Retrieved 2015-09-16.
- "ACCA | AGM marks credit union trends for 2014". acca.coop. Retrieved 2015-09-16.
- "The Venture 250". Alberta Venture. Retrieved 2015-09-16.
- "Servus Credit Union - Performance". www.servus.ca. Retrieved 2015-09-10.