Canada Has a New CU Title Holder When it Comes to Largest by Assets

EDMONTON, Alberta– Servus Credit Union is reporting it is now this country’s largest credit union by total assets, with its consolidated assets approaching ( C ) $30 billion (approximately $21.7 billion in U.S. dollars).

“This designation, as recognized by the Canadian Credit Union Association (CCUA), reflects years of disciplined operational decisions, a growing number of Albertans who bank with Servus, and the completion of a successful merger with connectFirst Credit Union on May 1, 2024,” Servus CU said in a statement. “The milestone marks a major shift in Canadian credit union history — after more than four decades, the title of Canada’s largest credit union has shifted from B.C.-based Vancity to Servus. This achievement is based on year-end 2024 results, as just reported by the CCUA.”

‘Proud Moment’

“This is a proud moment for the entire Servus community – members and employees,” President and CEO Ian Burns said in a statement. “It reflects years of hard work, smart decisions, and the trust that an ever-growing number of Albertans place in us. This milestone isn’t just symbolic. It’s national recognition that underscores the strength of the products, services and member-centric approach that we provide.” 

Servus CU said it is well-positioned to challenge traditional banking models and offer Albertans a “compelling, cooperative, and values-driven alternative to the big banks. As the largest credit union in Canada, Servus has the size and strength to deliver value to its members through innovative offerings and personalized, locally made decisions.”

‘Power of Cooperative Banking’

“Every year, we see more Albertans and Alberta businesses turning to us for their banking needs,” Burns continued in the statement. “This is a testament to the power of the cooperative banking model and the value we offer – such as a 100% deposit guarantee, profit sharing with members and recent enhancements to our digital banking platforms. If you’re not already benefitting from these things, perhaps it’s time to check us out.”

Servus now has 147 branches serving more than half-million members. 

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