Servus Credit Union Reports Strong Year-to-Date Profitability
News related to:Servus Credit Union Ltd · 2 min read
EDMONTON, Alberta, Sept. 24, 2026 /CourierPR/ -- Servus Credit Union Ltd. has reported record year-to-date profitability, delivering one of the strongest financial performances in the Canadian credit union sector. For the first three quarters of fiscal 2026, the credit union's income before taxes and patronage reached $340 million, marking a 20 per cent increase, or $56 million, over the same period last year.
This financial success is creating greater value for members by enabling investment in member experience, support for borrowing needs, and shared prosperity through the Servus Profit Share® Program. As the organization nears completion of its merger, Servus continues to realize the benefits of increased scale and operational synergies, supported by prudent financial management, a strong balance sheet, and a robust capital position.
The credit union's year-to-date net interest income grew to $674.1 million, up 15.2 per cent, or $89 million, from the same period last year. This growth contributed to retained earnings of $1.7 billion so far this year. Assets under management also saw a significant increase, growing 8.4 per cent to $42.3 billion, while total assets grew 5.3 per cent to $31.3 billion.
Retained earnings increased 17.4 per cent to $1.7 billion, and non-interest income grew 11.1 per cent to $205.2 million. Provision for credit losses increased 3.2 per cent to $39.6 million, while operating expenses increased 2.3 per cent to $499.7 million. Income before income taxes and patronage increased 19.9 per cent to $340.1 million, with accounting adjustments primarily related to the 2024 merger that are not associated with ongoing operations. These adjustments total $40.5 million, bringing normalized income before taxes and patronage to $299.5 million.
Servus Credit Union Ltd. provides a full line of secure financial services to more than 600,000 Albertans. With branches in more than 80 communities and 24/7 online, mobile, and telephone support services, as well as access to thousands of no-fee ATMs, Servus makes banking secure and easy. Having served Albertans for nearly 100 years, with an emphasis on providing friendly service and personalized advice, Servus helps its members feel good about their money.