How much do you earn from the banking you do? This idea might sound crazy, but it's not — if you think outside the bank! Credit unions, like Servus, operate differently than traditional banks. See for yourself:

Profit Share infographic 2019 

One of the biggest differences is in ownership. Shareholders own banks, whereas every member of a credit union is a member-owner. After you consider the difference in ownership, what stands out is how we spend our profits. Banks pay their profits to shareholders, but credit unions share profits with members. When it comes to distributing profits, credit union members benefit the most!

Member economic participation is one of the seven cooperative principles that was foundational to the credit union movement. The concept is pretty simple — the more business you do with us, the more of our profits we'll share with you at the end of each year.

We call this Profit Share and it's made up of three parts, depending on the banking you do with Servus:

  • Patronage (based on the average balances you hold in loans and deposits)
  • Common share dividends (based on how many common shares you own)
  • Investment share dividends (based on the investments you hold)

As a Servus member, you earn profit share on nearly every banking product you hold. From a mortgage or car loan, to retirement investments and credit cards – even the deposits you make into a chequing or savings account. Our Profit Share calculator shows you just how much you could earn based on any eligible product the more you bank with Servus, the more you earn! 

If you're not being rewarded for your banking — what are you waiting for? Become a Servus member by opening an account and start getting paid for all your banking!

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® Profit Share is a trademark of Servus Credit Union Ltd.

Originally posted on December 3, 2018.