Servus Delivers Greater Member Convenience Through Province-Wide Network

November 3

EDMONTON -- Servus Credit Union Ltd., Common Wealth Credit Union and Community Savings joined forces in a strategic amalgamation on November 1,  creating a credit union with $9.5 billion in assets and 2,000 employees.

"The financial world is becoming increasingly competitive and consolidated," said  Steve Blakely, President and Chief Executive Officer, Servus Credit Union Ltd. "This proactive step of combining three financially sound companies results in an expanded network for our members, innovative products and services and more career opportunities for our employees."

Members will be able to conduct their transactions in an expanded network, including 100 locations in 64 communities across Alberta. These complement established on-line, ATM, and telephone banking options that an increasingly mobile population needs today. 

Members will be the driving force as Servus moves towards complete integration.  Each of the three amalgamating partners has a long history of providing the superior service, community involvement, and profit sharing that makes credit unions unique. Alberta's newest credit union
will build on those traditions under the Servus Credit Union banner.

"Establishing member service capability throughout the merged network was our highest priority," explained Blakely. "With that in place, the new credit union can work on integrating accounts, technologies and systems over the next few years."

The 367,000 members will not experience immediate changes to how they conduct their banking. In the short-term, the most visible changes will be branding. As the predecessor credit unions no longer exist as legal entities after October 31, members will see the Servus Credit Union name and logo appear on stationery, bank statements and local sponsorships.
Signage, websites, and other service touch points will move to Servus branding over the next 18 months.

"This amalgamation will provide significant advantages to members," added Mr. Blakely.  "Our credit union will give members more branch access, competitive rates, enhanced services, and the same knowledgeable, friendly employees."