Servus Credit Union has announced it is now the largest credit union in Canada by total assets, following its merger with connectFirst and strong year-end results for 2024.

This shift reflects Servus’s ongoing growth in Alberta. With nearly $30 billion in assets and more than half a million members, Servus continues to demonstrate the scale and impact of cooperative banking.

Read the full announcement online or below.

Source: Servus Credit Union

Edmonton, AB – Servus Credit Union Ltd. (Servus) has officially become Canada’s largest credit union by total assets, a historic milestone for the Alberta-based credit union and its members. This designation, as recognized by the Canadian Credit Union Association (CCUA), reflects years of disciplined operational decisions, a growing number of Albertans who bank with Servus, and the completion of a successful merger with connectFirst Credit Union on May 1, 2024.

The milestone marks a major shift in Canadian credit union history — after more than four decades, the title of Canada’s largest credit union has shifted from B.C.-based Vancity to Servus. This achievement is based on year-end 2024 results, as just reported by the CCUA.

“This is a proud moment for the entire Servus community – members and employees,” says Ian Burns, President and CEO of Servus Credit Union. “It reflects years of hard work, smart decisions, and the trust that an ever-growing number of Albertans place in us. This milestone isn’t just symbolic. It’s national recognition that underscores the strength of the products, services and member-centric approach that we provide."

With a consolidated asset base nearing $30 billion, Servus is well-positioned to challenge traditional banking models and offer Albertans a compelling, cooperative, and values-driven alternative to the big banks. As the largest credit union in Canada, Servus has the size and strength to deliver value to its members through innovative offerings and personalized, locally made decisions.

“Every year, we see more Albertans and Alberta businesses turning to us for their banking needs. This is a testament to the power of the cooperative banking model and the value we offer – such as a 100 per cent deposit guarantee, profit sharing with members and recent enhancements to our digital banking platforms. If you're not already benefitting from these things, perhaps it's time to check us out," says Burns.

Burns notes the credit union’s disciplined approach as a fundamental driver of this success, where a focus on stability and capital strength have set the stage for long-term success. Burns adds, “Becoming Canada’s largest credit union is a remarkable milestone, but our real strength lies in the long game — we will continue to make deliberate decisions to build lasting success for the good of our credit union and members, to progress the future of cooperative banking in Alberta.”

Servus has a long-standing presence in Alberta, with 147 branches serving more than half a million members. From financial advisors helping members reach personal goals, to business banking experts supporting Alberta’s entrepreneurs, to a Wealth Strategies team offering tailored investment advice – Servus is dedicated to helping its members feel good about their money.

Servus has a long-standing presence in Alberta, with 147 branches serving more than half a million members. From financial advisors helping members reach personal goals, to business banking experts supporting Alberta’s entrepreneurs, to a Wealth Strategies team offering tailored investment advice – Servus is dedicated to helping its members feel good about their money.

About Servus Credit Union Ltd. 

Servus Credit Union has recently merged with connectFirst Credit Union. The resulting entity has served Albertans for over 80 years with a full line of secure financial services. The financial institution has 147 branches in 80 communities throughout the province as well as options for online and mobile banking. For more information about Servus, call 1.877.378.8728 or visit servus.ca