straight talk - Servus Credit Union

straight talk
from Servus Credit Union
fall 2009 • volume 2 issue 11
Servus, Common Wealth and Community Savings are now Canada’s first province-wide credit union — Servus.
Together we’re stronger
Nearly one year ago our three
successful Alberta credit unions
joined forces to orchestrate the
largest credit union merger in
Canadian history. The November
1, 2008 amalgamation of Servus,
Common Wealth and Community
Savings that formed Servus Credit
Union Ltd., created our country’s
first province-wide credit union. We
are very proud to serve more than
400,000 member-owners from 100
locations throughout Alberta.
Joining three large credit unions is a
phenomenal undertaking that has only
been possible because of our shared
vision — to create a stronger financial
institution that will preserve the credit
union way of banking for generations
to come. The driving force that brings
us together is our 2,000 dedicated
employees who are passionate about
the ideals that made our credit unions
successful. The founding principles
of people helping people, members
as owners and sharing our profits will
always be the heart and soul of our
credit union.
In the ten months since our merger,
we have made remarkable strides
toward building a solid foundation
for our new credit union. And, while
we undergo tremendous change and
growth, we are staying focused on
taking great care of the needs of our
member-owners, our employees and
our communities.
The best of the best
The groundwork began by evaluating
the practices of each of our credit
unions, allowing us to draw the best
from each. Through this process,
we developed a new profit-sharing
model combining cash and dividends
to reward member loyalty, while
ensuring the sustainability of our
credit union. We refined our interbranch
banking services to streamline
transactions from anywhere in the
province. A new common share policy
Members from all
over Alberta have told
us how thrilled they
are about our new
province-wide service.
Like one member from
Grande Cache who lost
his debit card while
vacationing in Red Deer
on a Saturday. When
he phoned our Contact
Centre, we gave him
our Red Deer locations.
He was very relieved
and grateful to obtain
a new debit card and
cash to make it home!
was created to give members greater
opportunities to invest directly into
the credit union. And, our combined
strength has enabled us to design a
new pricing structure with greater
flexibility and competitive edge.
We’re also paying attention to what
members and employees across
Alberta have to say. Servus developed a
Community Investment survey to learn
how our members believe community
giving should be directed. We are also
developing ways to measure member
Continued on page 2

grow
Together we’re stronger, continued from page 1
satisfaction, to learn how we can be
better. We’re pulling our employees
together to talk about values and
issues that are important to them
so we can design staff programs to
inspire and retain the best of the best.
More signs of growth
Servus is expanding our branch
network to give members greater
and more convenient access. New
branches have opened in Calgary,
Fort McMurray, Grande Prairie and
Sylvan Lake. Sherwood Park will
open a new branch this month
and Lethbridge next spring. To
increase efficiencies, our Edmonton
head office operations will be
consolidated in one facility in
January 2010.
Indications of our three credit
unions unifying as one are
emerging, as colourful Servus
signs replace former Common
Wealth and Community Savings
signage. Branch signs will continue
changing, one community at a
time, until all 100 locations in 63
Alberta communities have the
same look and feel. The estimated
completion date for this project is
October 31, 2009.
The future
The enormous job of identifying
a new unified banking system,
accounting and financial reporting
systems and a human resources
system are well underway. As
harmonized methods evolve,
efficiencies will increase —
resulting in operating savings
2
that will be invested in even
better member services. Cost
savings from the amalgamation are
expected to be $6 million annually.
Servus Credit Union’s financial
outlook is good, despite the
year’s turbulent economy. We
will continue to invest in our
employees’ education and training,
with the promise of no layoffs,
so that we can carry on providing
excellent member service.
As we approach our one-year
anniversary, we are grateful to
member-owners for your loyalty,
dedication and patience through
our transition. It is a privilege
to serve your financial needs
no matter where you are in the
province…from Fort McMurray to
Lethbridge, Lloydminster to Jasper
— and everywhere in between.
Branching out in
Sherwood Park
Sherwood Park residents will
enjoy the convenient hours
and drive-through ATM at the
new Servus branch, opening
on September 21. Jason Storey,
Branch Manager, invites you
to stop in for a visit. Watch for
exciting details of our grand
opening, scheduled for October.
Wye Road Branch
101, 301 Wye Road
780.449.1852
Branch Hours
Monday–Thursday: 9:30–5:00
Friday: 9:30–6:00
Saturday 9:30–3:00
Notice of 2010
Board of Directors Election
Servus Credit Union’s Board of Directors consists of 12 Directors, who are
members just like you and represent your interests. They determine policy,
set the direction of the credit union and ensure that the objectives of the
credit union are achieved effectively.
As a member-owner of Servus Credit Union, you have a say in our credit
union and are entitled to nominate and vote for our Directors.
In February 2010, Servus Credit Union will conduct an election for four new
Board of Director positions. We are seeking candidate nominations for these
new positions. Nominations will be accepted until October 30, 2009. The
new Directors will be announced at the Annual General Meeting, being held
on March 16, 2010 in Red Deer.
For information on submitting a nomination, see the insert in your
statement or visit servus.ca.

smart
Need a mortgage check-up
Every day, members ask our lending
specialists questions like: “Should I
lock in my mortgage rate now My
term is up for renewal soon; what’s
my best option How can I pay off
my home quicker I need more cash
flow; can I reduce my payments”
Servus Credit Union’s financial
experts have the training and
experience to provide members
with smart financing solutions. If
you have any questions about your
financing, please talk to us. We’ll
work with you to make sure that you
have the best mortgage option to
suit your needs. Call it a mortgage
check-up. Let the specialists at
Servus Credit Union help you
improve your financial well-being.
Financing solutions have evolved and we can provide some very innovative
options. One example is the “blend and extend” mortgage. This option lets
you take advantage of lower interest rates now, even when your mortgage
term is not up for renewal. It can also work to eliminate an early payout
penalty if you sell your home to purchase another before the loan is paid out.
Your mortgage with Servus also earns you a share of the credit union’s profits.
Members are eligible to receive profit share dividends annually. Dividends
are determined based on the profitability of the credit union and on your
patronage, including interest earned on eligible deposits and interest paid
on eligible loans.
Contact us today to set up an appointment for your mortgage check-up.
Save on
your home
and auto
insurance
With Servus Insurance
Services | Home and Auto,
a division of Johnson Inc.,
you get superior home and
auto protection and special
savings just for being a
credit union member-owner.
Plus, you’ll enjoy exceptional
service, like their 24-hour
availability and quick and easy
claim process. They also offer
coverage for Identity Theft,
Accident Forgiveness and
Depreciation Add-back.
Call 1.888.732.1494 or visit
johnson.ca/servus for a free,
no obligation quote today.
This is not a solicitation of insurance by
Servus Credit Union. Home and auto
insurance is available through Servus
Insurance Services | Home and Auto, a division
of Johnson Inc., a licensed insurance agency.
Policies are primarily underwritten by Unifund
Assurance Company. Unifund and Johnson Inc.
share common ownership. Servus Insurance
Services | Home and Auto is available only to
residents of Alberta.
Chip cards:
enhanced
security, the
same great
benefits
Servus Credit Union will start to introduce Member Cards with new chip technology in 2010.
Chip cards provide significant protection against card counterfeiting and fraud, but are still
easy to use. At your Servus Credit Union ATM, you won’t notice a difference. When you make a
Member Card purchase you’ll need to enter your personal PIN, one of the security features of
your new card. You will be able to change your PIN by visiting your ATM or branch.
We are really excited about introducing these new cards to you. For more information about
chip cards, visit our website at servus.ca.
3

care
Celebrate!
The third Thursday in October is always an extraordinary day for credit
unions world-wide. It’s International Credit Union Day — a day dedicated
to honouring the cooperative spirit of credit unions and reflecting on the
enormous contributions that credit unions and cooperatives make to our
members and communities.
Thanks for
your voice!
Now that we’re Canada’s first
province-wide credit union, we
want to make sure our community
giving reflects the values of all
our member-owners in Alberta.
So, we asked you to tell us what
is meaningful and relevant to
you and your community. Over
1,800 members completed our
Community Investment survey in
June and July and had a voice in
shaping our community giving.
We are now looking at what you
told us and will have results and
progress to share with you
in the new year.
Visit us this Credit Union Day, Thursday, October 15, and help us create
a ripple of excitement as we bring the credit union spirit to people
across Alberta.
Servus Night at
the Movies
This summer, Servus teamed up with
non-profit groups across Alberta to host
unique and entertaining fundraising
events. Servus Night at the Movies
visited communities throughout
Alberta to raise money for charitable
organizations by featuring outdoor
movies. Hundreds of people came
out to enjoy a movie under the stars
and gave donations to support a
great cause. These are just some of
the charities that benefited from the
movie nights: Rowan House, Morinville
Summer Camp, Central Alberta AIDS
Network, Slave Lake Arena Fundraising
Committee, Medicine Hat Food Bank,
Lamont Family and Community
Support Services, Alberta Diabetes
Foundation and the Athabasca
Regional Multiplex Society.
straight talk
Head Office:
#212, 8723 - 82 Avenue
Edmonton, AB T6C 0Y9
Regional Offices:
Box 1410, 5012 – 49 Street
Lloydminster, AB/SK S9V 1K4
601, 4901 – 48 Street
Red Deer, AB T4N 6M4
straighttalk@servuscu.ca
servus.ca
4