(Edmonton, AB) – This weekend, Servus Credit Union's member-owners received a record $33.3 million in Profit Share® Rewards cash — up nearly $1 million from the $32.4 million paid in 2019.
Along with Profit Share Rewards cash, Servus is also returning $4.7 million in investment share dividends and $16.3 million in common share dividends, totalling $54 million shared with members in 2020.
"Servus is proud to be sharing profits with our members in what has been a challenging year for many individuals and businesses across Alberta," says Garth Warner, President & CEO of Servus Credit Union. "Despite the impact of the COVID-19 pandemic, Servus Credit Union's financial position remains strong and our member-owners are seeing the benefit through Profit Share Rewards cash.
"Earlier this year, we committed to helping Albertans remain resilient through the Servus Feel Good Movement™ which included financial relief options, focused community investment funding and a community nomination program recognizing Albertans who have made a difference. Closing out 2020 by returning $54 million to Albertans is a punctuation of these efforts.”
Every December, Servus shares profits with members by way of cash and dividends — something only credit unions offer within the financial services industry. Since 2009, Servus has returned more than $580 million to its members, the highest return of its kind in Alberta and one of the highest in Canada.
The Servus Big Share™ Contest returns for 2021
Each year since 2019, in addition to the millions of dollars shared with members through the overall Servus Profit Share Rewards program, the Servus Big Share contest also rewards one Servus member with $1 million. The Profit Share Rewards cash Servus members earn also gives them early entries into The Servus Big Share Contest, which returns in January 2021.
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 contact:Amanda LeNeve
Manager, Media & Member Engagement