EDMONTON, Alberta, May 09, 2023 (GLOBE NEWSWIRE) -- Servus Credit Union has received the prestigious 2023 Canada's Best Managed Companies award. The credit union has retained its Best Managed designation for 20 consecutive years.
Canada's Best Managed Companies program awards excellence in private Canadian-owned companies. To attain the designation, companies are evaluated on their leadership in the areas of strategy, culture, commitment, capabilities, innovation, governance, and financial performance.
As Alberta's largest credit union, Servus has continued its track record with strong asset growth amidst unpredictable economic conditions in recent years. The financial institution surpassed $18 billion in assets in fall 2022, representing $1 billion in asset growth since mid-2020. Servus ended 2022 with record-setting profit share, returning more than $60 million from its profit to members. Servus is the only credit union that shares profit in this way, at this scale.
"We're honoured to be a 20-year milestone winner of Canada's Best Managed Companies program. This is a testament of Servus's industry leading performance and what we can achieve when we combine a solid business strategy with a committed and engaged workforce," says Ian Burns, Servus's President & CEO.
Canada's Best Managed Companies is one of the country's leading business awards programs recognizing innovative and world-class businesses. Every year, hundreds of entrepreneurial companies compete for this designation in a rigorous and independent evaluation process.
Servus has deep community roots and is committed to helping members achieve financial fitness. Decisions are made locally by Albertans, for Albertans. Every member is an owner and has a say in stewardship of the organization. When banking with Servus, members enjoy perks that are unique to credit unions such as profit share and 100 per cent deposit guarantee.
ABOUT CANADA'S BEST MANAGED COMPANIES
Canada's Best Managed Companies continues to be the mark of excellence for private Canadian-owned and managed companies. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels: 1) Canada's Best Managed Companies new winner (one of the new winners selected each year); 2) Canada's Best Managed Companies winner (award recipients that have re-applied and successfully retained their Best Managed designation for two additional years, subject to annual operational and financial review); 3) Gold Standard winner (after three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully retained their award for 4-6 consecutive years); 4) Platinum Club member (winners that have maintained their Best Managed status for seven years or more). Program sponsors are Deloitte Private, CIBC, The Globe and Mail, Saleforce, and TMX Group. For more information, visit www.bestmanagedcompanies.ca.
ABOUT SERVUS CREDIT UNION
Servus Credit Union provides a full line of secure financial services with more than 100 branches in 59 communities throughout Alberta. The financial institution offers online, mobile and telephone banking. Founded more than 80 years ago, Servus' noble purpose is to help members reimagine their financial fitness so that they feel good about their money. For more information about Servus, call 1.877.378.8728 or visit servus.ca.
For more information contact:
Helen Nguyen Tran
Communications Specialist
media@servus.ca
(825) 402-0740
