From GlobeNewswire:

Servus Credit Union Ltd. reported strong financial performance and record growth with a 10.9% increase in assets to $20.3 billion in 2023. Loans and deposits also grew by 11.4% to $18.2 billion and 9.2% to $16.7 billion, respectively. Retained earnings increased 4.9% to $1.2 billion, maintaining net income at $77.8 million despite operational challenges *(Source: Globe News Wire).*

Servus’s President and CEO, Ian Burns, credited the institution’s success to strategic focus and modernization, coupled with strong capital and a member-centric approach. The credit union exceeded goals by attracting 14,000 new members and acquiring Stride Capital Corp., forecasting a proposed merger with connectFirst Credit Union *(Source: Globe News Wire).*

Despite ongoing operational challenges, Servus achieved record loan growth and shared over $68 million in Profit Share with its members in 2023. This included $32 million in Profit Share Rewards cash and an increase to over $36 million in dividends, benefitting from a high-interest-rate environment *(Source: Globe News Wire).*

Servus Credit Union, with more than 400,000 members, provides a full line of secure financial services in Alberta. The institution promotes online, mobile, and telephone banking and aims to help members reimagine their financial fitness *(Source: Globe News Wire).*



Read more: Servus sees stellar growth and solid financial results in