EDMONTON, AB--(Marketwired - December 06, 2016) - Member-owners of Servus Credit Union will receive $48.1 million this December through the credit union's annual Profit Share® program.
"It was another challenging year for the Alberta economy, so we are particularly pleased this year to be able to make such a significant payment to our members-owners," said Garth Warner, President and CEO of Servus Credit Union. "The strong support of our members right across the province, along with our focused cost containment efforts, combined to make this year's profit share payment one of our highest ever."
Since Servus's amalgamation in 2008, over $368 million has been paid out through the Profit Share® program, including $47.6 million in 2013 and $50 million in 2014 and 2015.
Servus also reminded members that the more they bank with the credit union, the more their payment will be. "You don't have to have huge accounts with us to get a big profit share payment," said Warner. "GICs, chequing accounts, savings accounts, mortgages, loans -- these all add up and contribute to determining how large of a profit share payment members receive."
Servus' Profit Share program is a unique offering in the financial sector and the more business members have with the credit union, the more they share in its success. Individual members receive the payments as deposits into their accounts, while commercial and agricultural members receive a cash rebate on their service charges.
About Servus Credit Union Ltd.
Servus Credit Union is a member-owned financial institution serving members from more than 100 locations in 60 communities. The credit union's vision of building a better world -- one member at a time -- inspires their commitment to provide sound, advice-based financial products and services; help members achieve personal satisfaction, enjoy financial stability and a good quality of life; and improve the communities where its members live and work. For more information, call toll-free 187SERVUSCU / 1.877.378.8728 or visit servus.ca.