Servus Credit Union

Community Savings Credit Union breaks new ground for cannabis industry banking with pre-approved credit cards

Retrieved on: 
Monday, February 26, 2024
Servus Credit Union, Small business, Growth, Musqueam Indian Band, LP record, Policy, Community, Cannabis, Credit, Drug

This industry-first offer finally gives cannabis businesses in BC guaranteed access to credit cards, a long overdue change in the financial services available for the industry.

Key Points: 
  • This industry-first offer finally gives cannabis businesses in BC guaranteed access to credit cards, a long overdue change in the financial services available for the industry.
  • Many cannabis businesses are rejected by credit card providers solely because of their legal business in cannabis.
  • Community Savings has successfully campaigned for policy change to ensure cannabis businesses have credit card access.
  • Commenting on the launch, Mike Schilling, President and CEO of Community Savings Credit Union, said “Cannabis businesses have been forced to operate without a fully functioning banking system for too long.

Community Savings Credit Union announces affordable invoice factoring for cannabis licensed producers in BC

Retrieved on: 
Friday, February 23, 2024
OCS, CFO, Ontario Cannabis Retail Corporation, LP, Servus Credit Union, Partnership, Growth, Musqueam Indian Band, LP record, Drug

VANCOUVER, BC / Unceded Territories of the Musqueam, Squamish and Tsleil-Waututh Nations, Feb. 23, 2024 (GLOBE NEWSWIRE) -- Community Savings , a BC-based credit union, working exclusively with We Can Capital Inc. , has introduced an innovative invoice factoring program crafted for British Columbia’s licensed cannabis producers (LPs).

Key Points: 
  • VANCOUVER, BC / Unceded Territories of the Musqueam, Squamish and Tsleil-Waututh Nations, Feb. 23, 2024 (GLOBE NEWSWIRE) -- Community Savings , a BC-based credit union, working exclusively with We Can Capital Inc. , has introduced an innovative invoice factoring program crafted for British Columbia’s licensed cannabis producers (LPs).
  • This affordable invoice factoring program enables BC LPs to receive the funds from their BC and Ontario government invoices early.
  • Community Savings with We Can Capital is dedicated to facilitating the sustainable growth of the BC cannabis industry.
  • Mike Schilling, President and CEO of Community Savings Credit Union, said: “As a pro-cannabis credit union, we are proud to be the only industry-owned solution to give BC LPs affordable access to working capital from their provincial receivables.

Servus sees stellar growth and solid financial results in 2023

Retrieved on: 
Friday, February 16, 2024
Credit union, Growth, Burns, Servus Credit Union, Pressure, Environment, Bank

EDMONTON, Alberta, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Servus Credit Union Ltd. (Servus) reported another year of strong financial performance and record growth, despite the economic volatility of this past year.

Key Points: 
  • EDMONTON, Alberta, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Servus Credit Union Ltd. (Servus) reported another year of strong financial performance and record growth, despite the economic volatility of this past year.
  • This was fueled by strong growth in both deposits and loans, while retained earnings grew by 4.9% to $1.2 billion.
  • At a time when many financial institutions are grappling with headwinds, Servus's financial results for the fiscal year ending Oct. 31, 2023, demonstrated the organization's resilience and increasing relevance to Albertans.
  • As part of this, Servus acquired Stride Capital Corp, a Calgary-based equipment financing and leasing provider, in June 2023.

Servus Credit Union pays $68.1 million to members from profits, spreading early holiday joy

Retrieved on: 
Tuesday, December 5, 2023
Heart, Credit union, Investment, Burns, Servus Credit Union, Bank

EDMONTON, Alberta, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Servus Credit Union shared $68.1 million from its profits with members across the province yesterday.

Key Points: 
  • EDMONTON, Alberta, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Servus Credit Union shared $68.1 million from its profits with members across the province yesterday.
  • Since starting the program in 2009, the credit union has returned more than $760 million to Albertans.
  • Servus also returned $29.5 million in common share dividends and $7.1 million in investment share dividends to members.
  • We hope the Profit Share® program will bring some early holiday joy for members across the province," says Burns.

Cannabis Council of Canada Marks Five-Year Legalization Anniversary, Calls on Governments to Make the Changes Needed to Save the Struggling Cannabis Sector

Retrieved on: 
Tuesday, October 17, 2023
Investment, Government, Cannabis Act, THC, Government of Canada, Servus Credit Union, License, Excise, Tax, LP record, Growth, Public policy, Cannabis edible, C3, Cannabis, Tobacco, Drug

These changes would ensure that the diverse cannabis industry is sustainable and can compete with the illicit cannabis industry.

Key Points: 
  • These changes would ensure that the diverse cannabis industry is sustainable and can compete with the illicit cannabis industry.
  • “Growing the pie means more revenue for the cannabis sector and governments and it means extending the protection of the regulated sector to more Canadian cannabis consumers,” concluded Smitherman.
  • Mike Schilling, President & CEO of Community Savings, stressed the economic benefits that a thriving cannabis sector can bring to Canada.
  • The cannabis sector stands at a crossroads, and the government's support is pivotal in ensuring its success.

Seth Egliht Appointed Chief Revenue Officer to Propel Growth for Federato's RiskOps Underwriting Platform

Retrieved on: 
Wednesday, October 11, 2023
AI, Software as a service, Q2, Insurance, Export Yellow Pages, Entrepreneurship, Growth, Region, SAN, P&C, IPO, Credit union, Servus Credit Union

SAN FRANCISCO, Oct. 11, 2023 /PRNewswire/ -- Federato, the insurance industry's first RiskOps underwriting platform, today announced the appointment of Seth Egliht as its new Chief Revenue Officer.

Key Points: 
  • SAN FRANCISCO, Oct. 11, 2023 /PRNewswire/ -- Federato , the insurance industry's first RiskOps underwriting platform, today announced the appointment of Seth Egliht as its new Chief Revenue Officer.
  • Seth has subsequently held sales leadership positions in a series of firms in the data and AI space including Personetics and Truent.
  • "We're thrilled to have Seth join us to lead Federato's sales and go-to-market strategy," said Will Ross, CEO and Co-Founder of Federato.
  • "In speaking with Federato's customers, what attracted me to this opportunity is the depth of the relationships Page, Will, and the rest of the Federato leadership have established," said Seth Egliht, Chief Revenue Officer, Federato.

BC facing ‘RESP gap’ between low and high income families - rising costs of living hindering education contributions, new study finds

Retrieved on: 
Wednesday, September 6, 2023
Musqueam Indian Band, Education, Registered education savings plan, RESP, Parent, Servus Credit Union, Policy, Research, Canada Education Savings Grant, Government, Child, Consumer price index, Consumer, Federation, BC1, Canada Learning Bond, Credit union, Tutoring, Birth control, Insurance

VANCOUVER, British Columbia/Unceded Territories of the Musqueam, Squamish and Tsleil-Waututh Nations, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Faced with higher costs of living, new data released today shows how BC parents are being challenged by financial pressures and struggle to open or contribute to Registered Education Savings Plans (RESPs).

Key Points: 
  • Study shows awareness is high for RESPs at 97%, but uptake is challenged by the squeeze on household budgets.
  • An RESP is a government-offered long-term savings plan that helps parents save for their child’s education after high school.
  • As high as 79% of BC parents without an RESP cite financial barriers as the top reason for not opening an account.
  • We are advocating for better policy so that families of all income levels can take advantage of free government education contributions.

Alberta Farmer-Power Engineer Named Next Servus Millionaire

Retrieved on: 
Thursday, June 15, 2023
AB, The Life and Adventures of Santa Claus, Servus Credit Union, News, Profit, Bank, Servus, Athabasca

Alberta's newest millionaire is the winner of the 2023 Servus Big Share™ contest by Servus Credit Union.

Key Points: 
  • Alberta's newest millionaire is the winner of the 2023 Servus Big Share™ contest by Servus Credit Union.
  • "Winning the Servus Big Share™ contest puts me years ahead of where I thought I would be, financially."
  • Servus Big Share™ is one way through which Servus shares its profit with members.
  • Since starting the Profit Share® program in 2009, Servus has returned more than $700 million to Albertans.

Vollrath Company's New SerVue Touchless Refrigerated Slide-In Revolutionizes the Salad Bar Serving Line Experience and Setup

Retrieved on: 
Tuesday, June 6, 2023
Food safety, Foodservice, The Vollrath Company, Food, Servus Credit Union, Temperature, Mineral oil

SHEBOYGAN, Wis., June 6, 2023 /PRNewswire/ -- The Vollrath Company, a leader in the foodservice equipment industry, introduced the next generation of serving line fabricator components. The SerVue™ touchless refrigerated slide-in uses sensors to automatically dispense the desired amount of food from self-contained canisters replacing the open-air design of a traditional salad bar.

Key Points: 
  • The SerVue™ touchless refrigerated slide-in uses sensors to automatically dispense the desired amount of food from self-contained canisters replacing the open-air design of a traditional salad bar.
  • "It gives customers a completely new, exciting and safe way to serve themselves at a salad bar and makes checking and refilling ingredients a breeze for the operator."
  • The refrigerated unit maintains temperature better than a typical drop-in or serving line and guarantees optimal product freshness.
  • SerVue expands Vollrath's fabricator component offering, which can be sold separately or built into a new custom serving system.

Servus Credit Union celebrates 20 years winning Canada's Best Managed Companies award

Retrieved on: 
Tuesday, May 9, 2023
Workforce, Servus Credit Union, Culture, Bank

EDMONTON, Alberta, May 09, 2023 (GLOBE NEWSWIRE) -- Servus Credit Union has received the prestigious 2023 Canada's Best Managed Companies award .

Key Points: 
  • 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.
  • As Alberta's largest credit union, Servus has continued its track record with strong asset growth amidst unpredictable economic conditions in recent years.