(Edmonton, AB) – This weekend, Servus Credit Union's member-owners received a record $32.4 million in Profit Share® Rewards cash — up $1.4 million from the $30.8 million paid in 2018.
Along with Profit Share Rewards cash, Servus is also returning $5.4 million in investment share dividends and $19.2 million in common share dividends, totalling $57 million returned to members in 2019 — also up from $54.1 million in 2018.
"The money we return to our member-owners is a reflection of a successful year helping shape our members' financial fitness," says Garth Warner, President & CEO of Servus Credit Union. "When our members are financially fit, so is Servus. It's what gives us the ability to put Profit Share Rewards cash directly in the pockets of members, which further improves the financial fitness of our members and helps boost the Alberta economy."
"In 2019, we focused on helping our members save. In particular, the first ever Servus Big Share contest encouraged Albertans to save money, which earned them entries for the chance to win $1 million dollars and increased their share of the profits we returned for 2019. We're looking forward to offering this contest again in 2020, and encouraging more Albertans to save."
Every December Servus returns profits to members by way of cash and shares — something only credit unions offer within the financial services industry. Since 2009, Servus has returned more than $530 million to its members, the highest return of its kind in Alberta and one of the highest in Canada.
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 re-invest our profits in our members and the communities we serve.
For more information, call 1.877.378.8728.
For more information contact:Amanda LeNeve
Manager, Media & Member Engagement
Servus Credit Union