(Edmonton, AB) – Servus Credit Union was honoured with three awards from Canadian Credit Union Association (CCUA) at their annual National Credit Union Conference held in Winnipeg on May 6 and 7, 2019.
Servus took home the National Credit Union Innovation Award for the new Patronage Advance Program. The award recognizes "breakthrough products, services and processes that are either new or have undergone significant improvements and can serve as a model for other credit unions" (Canadian Credit Union Association, 2019).
Patronage Advance, now part of the Servus Financial FitnessTM Toolkit, allows members to draw up to $3000 of their Profit Share® Rewards; Rewards in advance in order to help achieve their financial fitness goals. Patronage Advances have been used by members for paying down debts, investing in RRSPs, and putting towards a down payment on a house, to name a few.
Profit Share is Servus's unique way of rewarding member-owners for their loyalty. Profit Share is paid out annually depending on how much profit Servus earned and how much business a member does.
Photo courtesy of Twitter, @MarthaDurdin
Servus also won two CCUA Achievement in Marketing Excellence (AIME) Awards. Winning an AIME Award, involves "a balance of quality ideas, outstanding execution, and tangible results" (Canadian Credit Union Association, 2019).
Servus was recognized for TV and radio advertisements. The TV series Unbelievable Stories were based on true member stories of how Servus helped members improve their financial fitness. The radio series Believe it, You Can Feel Good About Your Money affirmed Servus's customer service, tailored expert advice and Profit Share Rewards..
In 2018 Servus Credit Union marked 80 years of making a positive difference in the financial lives of Albertans, writing another chapter in its history with strong financial performance, record profit sharing, expanded member services and economic contributions to the province. Servus paid $54.2 million to members through its annual Profit Share® program, the largest payout in its history. Since 2009, the program has paid $473.7 million directly to members, a financial benefit of membership offered only by Servus and some credit unions.
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 80 years with a full line of secure financial services. We help members manage their money wherever they are through 100 branches in 59 communities; online, mobile and telephone banking; and 1900 no-fee ATMs across Canada. We reinvest our profits in our members and the communities we serve.