(Edmonton, Alberta) – Servus Credit Union has been honoured with the prestigious Canada’s Best Managed Companies designation for the 16th consecutive year and achieved Platinum Club status for the 10th consecutive year.
"We're very proud to be recognized again with this national honour and to be identified in the same league as Canada's leading companies," said Garth Warner, President and CEO of Servus Credit Union. "It is a credit to the dedication of Servus employees to shaping the financial fitness of our members with sound advice, services to help them manage their money on their terms and a direct financial return through Profit Share® Rewards. When our members succeed, Servus succeeds."
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 $54.1 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.
Servus contributed $3.5 billion to Alberta's economy in 2018, including $2.5 million to 982 Alberta community organizations. Servus was recognized by the Centre for Financial Services Innovation as one of its 2018 Financial Health Leaders, the only Canadian institution named. Also in 2018 Forbes recognized Servus as one of Canada's Best Employers, and one of the top three financial institutions in Canada.
Established in 1993, Canada’s Best Managed Companies is one of the country’s leading business awards programs recognizing Canadian-owned and managed companies for innovative, world-class business practices. Winners are an important engine of economic growth for being adaptable and sustainable in a global market. Applicants are evaluated by an independent judging panel made up of judges from Deloitte, CIBC, Canadian Business, Smith School of Business and MacKay CEO Forums. Best Managed companies share commonalities that include an emphasis on culture and people, innovation, sustained performance and strong financial results.
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.
About Canada’s Best Managed Companies
Canada's Best Managed Companies continues to be the mark of excellence for Canadian-owned and managed companies with revenues over $15 million. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels: 1) Canada’s Best Managed Companies new winner (one of the new winners selected each year); 2) Canada’s Best Managed Companies winner (award recipients that have re-applied and successfully retained their Best Managed designation for two additional years, subject to annual operational and financial review); 3) Gold Standard winner (After three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully retained their award for four to six consecutive years); 4) Platinum Club member (Winners that have maintained their Best Managed status for seven years or more). Program sponsors are Deloitte, CIBC, Canadian Business, Smith School of Business and MacKay CEO Forums. For further information, visit www.bestmanagedcompanies.ca.