Record Third-Quarter Results Drive Value for Servus Credit Union Members

Record Third-Quarter Results Drive Value for Servus Credit Union Members

(EDMONTON, AB) – Servus Credit Union Ltd. (Servus) today reported record year-to-date profitability, delivering one of the strongest financial performances in the Canadian credit union sector. Income before taxes and patronage reached $340 million through the first three quarters of fiscal 2026, an increase of 20 per cent, or $56 million over the same period last year.

Servus's sector-leading financial performance is creating greater value for members by enabling investment in member experience, support for borrowing needs and shared prosperity through the Servus Profit Share® Program. As the organization nears completion of integration following its merger, Servus continues to realize the benefits of increased scale and operational synergies, supported by prudent financial management, a strong balance sheet and a robust capital position. This contributed to year-to-date net interest income of $674 million, up 15 per cent, or $89 million, from the same period last year, resulting in retained earnings of $1.7 billion so far this year.

"Our record year-to-date profit demonstrates the momentum we are building as an organization," said Ian Burns, President and CEO of Servus Credit Union. "As we near completion of integration efforts, these results are evidence of what's possible when a clear strategy, talented people and a commitment to members come together. We are building a strength that well-positions Servus to serve members, support the economy and create value over the long term."

Key financial results for the first nine months of fiscal 2026 as compared to the same period last year show:

• Assets under management grew 8.4% to $42.3 billion
• Total assets grew 5.3% to $31.3 billion
• Retained earnings increased 17.4% to $1.7 billion
• Net interest income grew 15.2% to $674.1 million
• Non-interest income grew 11.1% to $205.2 million
• Provision for credit losses increased 3.2% to $39.6 million
• Operating expenses increased 2.3% to $499.7 million
• Income before income taxes and patronage increased 19.9% to $340.1 million

Results include accounting adjustments primarily related to the 2024 merger that are not associated with ongoing operations. These adjustments total $40.5 million, bringing normalized income before taxes and patronage to $299.5 million.

Servus's Q3 results occur within an external environment in which Alberta's economic outlook remains uncertain with higher inflation and a rebalancing of the housing market. Alberta continues to show resilience, however, macroeconomic indicators led to a slight increase in the provision for credit losses compared to the same period in the prior year.

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About Servus Credit Union Ltd.
Servus Credit Union provides a full line of secure financial services to more than 600,000 Albertans. Unlike the banks, Servus pays its members for their loyalty through Profit Share® Rewards cash which returns millions of dollars of profits directly to members annually.

As Alberta's largest credit union, with branches in more than 80 communities and 24/7 online, mobile and telephone support services, as well as access to thousands of no-fee ATMs, Servus makes banking secure and easy. Having served Albertans for nearly 100 years, with an emphasis on providing friendly service and personalized advice, Servus helps its members feel good about their money.

For more information, call 1.877.378.8728 or visit servus.ca.