Servus Surpasses $40 Billion in Assets Under Management in Fiscal 2025
EDMONTON, Alberta, Jan. 26, 2026 (GLOBE NEWSWIRE) — Servus Credit Union Ltd. (Servus) announced today it closed out fiscal 2025 with over $40 billion in assets under management, marking a significant milestone for Canada’s largest credit union. This achievement reflects $2.5 billion in year-over-year growth and over $1.0 billion in balance sheet expansion.
Covering the period from November 1, 2024, to October 31, 2025, Servus’s performance reflects a year defined by disciplined execution and continued focus on meeting the evolving needs of members.
“Despite economic challenges experienced across the province coupled with the uncertainty created by the evolving tariff situation, Servus delivered impressive financial results this year,” said Ian Burns, President and CEO of Servus Credit Union. “Our performance is a testament to our member-centric approach and positions us to enter the new year with strength.”
Member loans and leases reached $26.0 billion, increasing by $1.2 billion during the year, reflecting continued growth across personal, commercial and agricultural portfolios. Servus also expanded select offerings to respond to evolving member needs, including growing its leasing portfolio through Stride Capital and introducing Servus Halal, a subsidiary, which provides Halal-compliant mortgage options.
On the funding side, member deposits totaled $25.2 billion, increasing by $800 million in 2025. This growth reflects continued member confidence, supported by competitive rates, profit-sharing, and a strong focus on relationship-based banking.
Net income for the period was bolstered by strong net interest and non-interest income, moderate provisions for credit losses, and controlled operating expenses. As a result of the merger with connectFirst, income statement results for fiscal 2025 are not directly comparable to the income statement results for fiscal 2024. In addition, the results include accounting adjustments primarily related to the merger and one-time items not associated with ongoing operations. These adjustments total $126.5 million, bringing normalized income before income taxes and patronage to $235.3 million.
Servus Credit Union Ltd. ended fiscal 2025 with the following financial results:
- Assets under management at $40.1 billion
- Total assets at $30.3 billion
- Retained earnings at $1.5 billion
- Net interest income at $805.2 million
- Non-interest income at $288.9 million
- Provision for credit losses at $58.5 million
- Operating expenses at $673.8 million
- Income before income taxes and patronage at $361.8 million
- Normalized income before income taxes and patronage is $235.3 million
The broader economic environment in fiscal 2025 was characterized by easing inflation, shifting interest-rate expectations, and ongoing global uncertainty. In Alberta, population growth, employment gains, and solid wage growth continued to support economic activity, even as pressures remained in housing and infrastructure.
“As we begin the 2026 fiscal year, we remain committed to supporting our members as we always have,” Burns added. “This includes recently returning $83 million to our members through our annual Profit Share® program, and continuing to provide personalized, relationship-based banking that helps our members feel good about their money.”
About Servus Credit Union Ltd.
Servus Credit Union provides full-circle financial services to more than 600,000 Albertans. Unlike the banks, Servus pays its members for belonging through Profit Share® Rewards cash which returns millions of dollars of profits directly to members annually.
As Canada’s largest credit union, 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.
For more information, call 1.877.378.8728 or visit servus.ca.
Media contact:
media@servus.ca
825.402.0740
