Servus Credit Union shares $54.6 million in profits with member-owners
EDMONTON, Alberta, Dec. 07, 2021 (GLOBE NEWSWIRE) — This weekend, Servus Credit Union shared $54.6 million of profits with its membership— up from $54.4 million shared in 2020.
“This year, Servus continued our strong support for members both personally and financially,” says Ian Burns, President & CEO of Servus Credit Union. “We’ve maintained our strong financial position and are proud to be returning a total of $54.6 million, including a record amount of Profit Share Rewards® cash, to our members.”
Servus members received a record $36.1 million in Profit Share® Rewards cash — up nearly $3 million from the $33.3 million paid in 2020. Along with Profit Share Rewards cash, Servus also returned $14.3 million in common share dividends and $4.2 million in investment share dividends.
“As a member-owned institution and we must react to every issue that affects Albertans, whether it’s COVID-19 or the economy. I’m proud of our credit union and our employees for the ways we’ve all come together to help members feel good about their money this year. To close out 2021 sharing millions with our members is the perfect punctuation of those efforts.”
In December, all Servus members are eligible to receive profit share by way of cash and dividends — something only credit unions offer within the financial services industry. Since 2009, Servus has returned more than $630 million to Albertans, one of the highest returns of its kind in Canada.
The Servus Big Share™ Contest returns for 2022
Each year since 2019, in addition to the millions of dollars shared with members through Servus’s Profit Share Rewards program, the Servus Big Share contest also rewards one Servus member with $1 million. The Profit Share Rewards cash Servus members earned this December gives them early entries into The Servus Big Share™ Contest, which returns in January 2022.
About Servus Credit Union Ltd.
At Servus Credit Union we’re building a better world, one member at a time. We’ve been shaping the financial fitness of Albertans for over 80 years with a full line of secure financial services. We help members manage their money wherever they are through more than 100 branches in 59 communities; online, mobile and telephone banking; and 1900 no-fee ATMs across Canada. We re-invest our profits in our members and the communities we serve. For more information, call 1.877.378.8728 or visit servus.ca.
For more information contact:
Media & Story Consultant
Servus Credit Union
Email: [email protected]