Servus Credit Union
Encyclopedia
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
in Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
and the largest credit union in Alberta
Alberta
Alberta is a province of Canada. It had an estimated population of 3.7 million in 2010 making it the most populous of Canada's three prairie provinces...
.
Servus was created through the merger of several smaller, regional credit unions in Alberta, the largest being Capital City Savings, based in Edmonton, which was formed in 1987. The various branches, however, have separate histories going back to 1937.
On November 1, 2008, it became Canada’s first province-wide credit union when it amalgamated with Community Savings and Common Wealth Credit Union. Servus serves 390,000 members from more than 100 locations in 62 communities across Alberta and has $10.8 billion in assets under administration.
Servus was also listed as one of "Canada's 50 Best Managed Companies" in Canada in 2008.