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Servus Credit Union is a member-owned, community-based financial institution based in Edmonton, Alberta,[4] and in 2015 became the second largest credit union in Canada[5] and the largest credit union in Alberta.[6] Servus has around 380,000 members who are served by close to 2,400 employees from 102 locations in 59 communities across Alberta[7] and as of 2016 has $13.2 billion in assets under its administration.[8]

Servus Credit Union
Capital City Savings
Credit union
IndustryFinancial services
Founded1938 in Edmonton, Alberta, Canada
Number of locations
Area served
Key people
Total assets$14.8 billion CAD (2017)[2]
Number of employees
2,200[3] (2018)



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 1938. 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.[9]


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. Membership includes the right to democratically elect and run for a position on the Board of Directors.

Profit SharingEdit

Instead of paying profits to shareholders, the company shares its profits with members, and paid $48.1 million to individual members through its profit sharing program in 2016.[10][11]

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:

  • 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.
  • Common Share dividends: Common share dividends are paid as additional common shares.
  • Investment share dividends: Dividends paid as additional investment shares that may be redeemed in cash.

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).

The Delton branch of Servus Credit Union in Edmonton


Based in Edmonton, the credit union also has regional offices in Lloydminster and Red Deer. 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.

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.[12]

Board of DirectorsEdit

Servus Credit Union's Board of Directors consists of 12 members from around the province, elected by the credit union's membership.[13]

2017 Servus Credit Union Board of Directors: John Lamb (Chair), Doug Bristow, Dianne Brown, Ken Cameron, Amy Corrigan (Vice Chair), Perry Dooley, Iris Evans, Doug Hastings, Jonathon Holt, Darcy Mykytyshyn, Simon Neigum, and Penny Reeves.

Executive Leadership TeamEdit

  • 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
  • Dion Linke, 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[14]

Member of the Platinum Club of Canada’s 50 Best Managed Companies eight years running (2009-2017)[15]

Member of the Venture 250, which recognizes Alberta’s highest grossing companies[16]

Highest rated financial institution in the 2015 Alberta Venture Customer Service Survey[17]

Global Co-operator Award, which recognizes people or organizations that help support the development of co-operatives internationally (2015)


As of January 31, 2017, Servus reported assets of $14.8 billion, and an Operating income of $124 million (before patronage and income taxes).[18]


  1. ^ "Servus Credit Union locations" (PDF). Servus Credit Union. Servus Credit Union Ltd. Retrieved 1 February 2017.
  2. ^ "Interim Condensed Consolidated Financial Statements For the three months ended January 31, 2017" (PDF). Servus Credit Union Ltd. January 31, 2017. Retrieved 2017-02-01.
  3. ^ Strauss, Karsten (February 6, 2018). "Canada's Best Employers 2018". Forbes. Retrieved June 29, 2018.
  4. ^ "Servus Credit Union - Vision, mission and values". Servus Credit Union. Retrieved 2015-12-27.
  5. ^ "Largest 100 Credit Unions / Caisses Populaires" (PDF). Canadian Credit Union Association. Canadian Credit Union Association. March 18, 2015. Archived from the original (PDF) on 2016-04-22. Retrieved February 1, 2017.
  6. ^ "Canadian Credit Union Association" (PDF). Cucentral. Retrieved 2017-02-01.
  7. ^ "Management's Discussion and Analysis For the year ended October 31, 2014" (PDF). Servus Credit Union. Servus Credit Union Ltd. Retrieved 1 February 2017.
  8. ^ "Interim Condensed Consolidated Financial Statements For the nine months ended July 31, 2016" (PDF). Servus Credit Union Ltd. July 31, 2016. Retrieved 2017-02-01.
  9. ^ "Servus 2013 Annual Report". Retrieved 2015-09-16.
  10. ^ "Interim Condensed Consolidated Financial Statements For the three months ended" (PDF). Servus Credit Union Ltd. January 31, 2017. Retrieved 2017-02-01.
  11. ^ "Message from the Board Chair" (PDF). Servus Credit Union. Servus Credit Union Ltd. Retrieved 1 February 2017.
  12. ^ "Credit union deposit guarantee corporation". Retrieved 2015-09-10.
  13. ^ "Servus Credit Union - Board of Directors". Retrieved 2015-09-16.
  14. ^ "ACCA | AGM marks credit union trends for 2014". Retrieved 2015-09-16.
  15. ^ "Platinum Club members". Deloitte Canada's Best Managed Companies. Deloitte LLP. Archived from the original on 2015-03-19. Retrieved 2017-02-01.
  16. ^ "The Venture 250". Alberta Venture. Alberta Venture. Retrieved 2015-09-16.
  17. ^ "The Alberta Venture Customer Service Survey - Alberta Venture". Alberta Venture. Alberta Venture. Retrieved 2016-12-14.
  18. ^ "Servus Credit Union - Performance". Retrieved 2015-09-10.

External linksEdit