Credit Union
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Servus

Advertiser Disclosure

About company

Servus is a Canadian credit union founded in 1938 in Edmonton, Alberta. Today, Servus is the largest credit union in Alberta and the second largest credit union in Canada. Ranked #1 in Canada on the Forbes list of the World's Best Banks+, Servus has $17.2 billion in assets under its administration as of 2021. In 2022, Servus Credit Union has almost 380,000 members.

Features

  1. Servus provides a full range of financial products for both individuals and business clients.
  2. Every year, based on its financial performance, Servus distributes Profit Share Rewards cash among its members. Most of the Servus products can bring profit share to their holders, from loans to retirement investments.
  3. Servus is a member of the Alberta Credit Union Deposit Guarantee Corporation (CUDGC).

Pros and cons

Here are the advantages of being a Servus member and holding banking products there:

  • Security of deposits you keep at Servus is guaranteed by CUDGC;
  • Earning profit share on the products you hold (provided you pay a one-time membership fee on opening an account);
  • Access to surcharge-free ATMs across Canada;
  • Safe and secure mobile and online banking services allowing to manage your accounts and see the transaction history at any time;
  • Support from Servus Member Contact Center available 24 hours a day, 7 days a week;
  • Easy recovery for lost or stolen membership cards;
  • Easy recovery for lost or stolen credit cards;
  • The availability of Servus products and services for both members and those who haven't signed up yet.

Still, there are certain disadvantages:

  • The availability of Servus products and services to Alberta residents only;
  • The lack of information about pricing for certain products and services.

Products

The company offers a range of personal banking products:

  • Chequing accounts for everyday banking operations that differ in a number of monthly transactions included;
  • Savings accounts allowing you to earn up to 1% interest on the deposited amounts;
  • U.S. chequing and savings accounts allowing you to save on foreign currency conversion rates;
  • Mortgages with both open and closed terms and interest rates ranging from 5.19% to 8.19% depending on the chosen term;
  • Personal loans for a variety of borrowing needs, including renovation, vehicle, student, investment, and consolidation loans, home equityline of credit, and Fast Forward Small Loans;
  • Investment products like bonds, GICs, life annuities, segregated funds, and mutual funds;
  • Registered plans like RRSPs, RESPs, RRIFs, TFSAs, RDSPs, and pre-authorized contribution (PAC) plans to keep your investments there and grow your savings and earnings tax-free;
  • Credit cards that differ in the range of benefits they offer — rewards, cash back, travel benefits, and low fees;
  • Insurance products providing coverage for your expenses in case of unexpected situations happening to your home, vehicles, travel, financial obligations, life, and health;

For businesses, there are the following products at Servus:

  • Daily banking accounts, including chequing and savings accounts both in Canadian and U.S. dollars;
  • Borrowing solutions including loans and mortgages at fixed and floating rates, authorized overdrafts with floating rates, and lease financing for almost any type of business and equipment;
  • Business credit cards with interest rates up to 16.99% and reward-earning opportunities;
  • Digital banking solutions for making payments, including Interac e-Transfers, Electronic Funds Transfers, online bill payments, credit card payments, and Alberta Gaming and Liquor Commission (AGLC) online payment service;
  • Digital banking solutions for receiving payments, including Interac e-Transfers, Electronic Funds Transfers, Chase Merchant Services allowing you to accept payments in-store, on-the-go, or online, Commercial Digital Cheque Deposit services allowing you to scan and deposit cheques directly into your account, Mobile photo cheque deposit, and Corporate Creditor Vendor Enrollment allowing your customers to pay through digital or telephone banking;
  • Payroll and benefits solutions designed to simplify payroll management, reduce administration times, and improve employee satisfaction
  • Customized investment products like term deposits and GIC investment features tailored to match your future cash flow requirements 

Services

Individuals can reach out to Servus for the following services:

  • Wealth management services, including personalized guidance from Servus wealth advisors and the creation of a customized investment plan
  • Access to Qtrade Direct Investing allowing for self-directed investing
  • Trust and estate services, including the creation of a customized plan on how to safeguard your estate

Wealth management services from Servus advisors are also available to business owners. With personalized guidance from a Servus advisor, you can create a diversified investment portfolio, protect your income, plan your estate, and come up with an optimal succession plan.

Servus Credit Union

FAQ

Who owns Servus?

Servus Credit Union is a member-owned financial institution; it doesn’t have shareholders. In turn, there are several trademarks owned by Servus: SERVUS CREDIT UNION, the SERVUS circle, FEEL GOOD ABOUT YOUR MONEY, and UNLIKE YOUR BANK.

Is Servus legitimate? 

Servus Credit Union Ltd. is a registered legal entity with the following LEI: 549300CINTBY1NIVVC85

Its head office address is 151 Karl Clark Road NW, Edmonton, AB T6N 1H5, Canada.

How do I find a Servus branch near me?

To find a branch near you, go to the "Find a Branch or ATM" page and search by address, city, town, or postal code. After reviewing the list of branches near you and finding the one that works best for you, you can call Servus to book an appointment.

Company documents

Servus Corporate Profile

We're driven by our purpose to shape member financial fitness. It's why we use all our humanity and technology to help our members' feelings about money, be good ones.

© Servus
Financial products
Servus
Business Rewards Mastercard®
Rating by Finanso®
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Recommended FinScore™
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Servus
Business Low Rate Mastercard®
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Servus
Business No Fee Mastercard®
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Servus
World Elite® Mastercard®
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Servus
Gold Mastercard®
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Servus
Low Rate Mastercard®
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Servus
No Fee Mastercard®
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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Servus
Fixed-rate open mortgage
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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Rate
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Effective interest rate on the product

7.00% to 8.25%
Servus
Fixed-rate closed mortgage
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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Rate
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Effective interest rate on the product

5.19% - 6.14%
Term
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Loan term for the financial product

5 years
Servus
Fast Forward Small Loan
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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1000
Servus
Consolidation loan
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Recommended FinScore™
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Servus
Investment loan
Rating by Finanso®
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Servus
Home equity line of credit (HELOC)
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Servus
Student loans
Rating by Finanso®
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Servus
Vehicle loan
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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Servus
Renovation loan
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Servus
U.S. Personal Savings
Rating by Finanso®
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Servus
AgriInvest
Rating by Finanso®
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$0 monthly fee
Servus
Business Savings
Rating by Finanso®
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$0 monthly fee
Servus
Business High Yield Savings
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$0 monthly fee
Servus
High Yield Savings
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$0 monthly fee
Servus
Personal Savings
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Servus
Youth Plan
Rating by Finanso®
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$0 monthly fee
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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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300
650
1000
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Effective interest rate on the product

19.75% - 21.49%
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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650
1000
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Effective interest rate on the product

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Recommended FinScore™
0
300
650
1000
from $5,000
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Effective interest rate on the product

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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
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Effective interest rate on the product

20.99% - 22.99%
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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650
1000
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Effective interest rate on the product

21.99% - 22.99%
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Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

4.46%
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
$10,000-$100,000,000
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Effective interest rate on the product

up to 4.95%
Term
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Loan term for the financial product

up to 10 years
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Mortgage
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Recommended FinScore™
0
300
650
1000
$50,000-$500,000
Rate
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Effective interest rate on the product

up to 5.19%
Term
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Loan term for the financial product

up to 25 years
CHIP Reverse Mortgage
Reverse Mortgage
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Recommended FinScore™
0
300
650
1000
$100,000-$500,000
Rate
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Effective interest rate on the product

up to 7.67%
Term
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Loan term for the financial product

up to 25 years
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$1,000-$10,000,000
Rate
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Effective interest rate on the product

up to 4.94%
Term
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Loan term for the financial product

up to 40 years
Best Quick Loan Today 23.05.2024*
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Rating by Finanso®
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Recommended FinScore™
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300
650
1000
up to $10.000
Coast Capital Savings
Personal Loan
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$50,000
Rate
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Effective interest rate on the product

7.5%
Term
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Loan term for the financial product

60 months
Mogo
Personal Loan
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$15,000
Rate
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Effective interest rate on the product

up to 46.96%
Term
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Loan term for the financial product

up to 60 months
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
1000.00 – 15000.00 C$
Term
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Loan term for the financial product

6 months – 60 months
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
500.00 – 1500.00 C$
Rate
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Effective interest rate on the product

to 18.99 %
Term
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Loan term for the financial product

3 months – 6 months
Toronto-Dominion Bank
TD Every Day Savings Account
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$0 monthly fee
Tangerine Bank
Savings Account
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$0 monthly fee
Rate
i

Effective interest rate on the product

1.00%
Scotiabank
Ultimate Package
Rating by Finanso®
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up to $30.95 monthly fee
Royal Bank of Canada
Savings Deposit
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Recommended FinScore™
0
300
650
1000
no minimum deposit
Rate
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Effective interest rate on the product

0.5%
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