Servus' Profit Share program is a key factor for members

EDMONTON, Sept. 23, 2014 /CNW/ - According to a recent Ipsos Reid study, an overwhelming majority of Servus Credit Union members are satisfied with Servus' annual profit sharing. And that's good news.

"Our members told us loud and clear that they love the Profit Share program," says Garth Warner, President and Chief Executive Officer. "No other bank shares their profits with their members and now we know that it's a big part of why our members love banking with us."

The survey asked members of Canada's second largest credit union how satisfied they were with their profit share amount and if they would be likely to recommend Servus to their friends and family based on profit sharing.

Results show that over 80% of members surveyed are both satisfied with Servus' profit sharing program and likely to recommend Servus to their friends and family.

"Our members use this money to pay down debt, invest for the future or save for a special purchase," adds Warner.

Servus' profit sharing lets them share their success with the people who make it possible – their members. For only $1, anyone can become a Servus member-owner and is then entitled to their share of the profits.

On September 15, Servus launched a new opportunity for members to win double their Profit Share. Until October 31, they're giving away an extra $100,000 to members who purchase an investment or who refer a friend to invest. All the details are available at servus.ca/windouble

The survey found that:

  • 69% of those surveyed who bank at Servus said Servus is their primary financial institution
  • 47% of those surveyed said they are very satisfied to completely satisfied with the profit sharing program
  • 57% of those surveyed said they are very likely to extremely likely to recommend Servus to their friends and family
  • 85% of respondents said they are aware of the Profit Share program
  • 48% of respondents who were aware of profit share said they like receiving a share of Servus' profits

Since 2009, Servus has shared over $220 million with their members:

Years

Amounts (in millions)

2013

$47.6

2012

$46

2011

$44.3

2010

$43

2009

$42.2

 

About Servus Credit Union Ltd.
Servus Credit Union is a member-owned financial institution serving members from more than 100 locations in 62 communities. The credit union's vision of building a better world - one member at a time inspires their commitment to provide sound, advice-based financial products and services; help members achieve personal satisfaction, enjoy financial stability and a good quality of life; and improve the communities where its members live and work. For more information, call toll-free 187SERVUSCU/1.877.378.8728 or visit servus.ca.

These are the findings of an Ipsos Reid poll conducted between January 24th, 2014 and February 4th, 2014, on behalf of Servus Credit Union.  For this survey, a sample of 400 randomly selected Servus Members was interviewed via telephone. The margin of error for a sample of this size is estimated at  +/- 4.9 percentage points, 19 times out of 20, of what the results would have been if all Servus members were surveyed.  All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

SOURCE: Servus Credit Union

For further information: Wade Bendfeld, Manager Public Relations, Servus Credit Union, T: 780.638.8238, C: 780. 720.6162, Email: wade.bendfeld@servus.ca, servus.ca

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