Servus records boost in income

Servus Credit Union is reporting a 4.7 per cent increase in its first-quarter operating income for 2014. The member-owned financial institution said it generated $32.5 million in profits, before patronage allocations and taxes, during the three months ended Jan. 31. That compares with $31.1 million for the same period a year earlier.

Servus Credit Union is reporting a 4.7 per cent increase in its first-quarter operating income for 2014.

The member-owned financial institution said it generated $32.5 million in profits, before patronage allocations and taxes, during the three months ended Jan. 31. That compares with $31.1 million for the same period a year earlier.

Servus said in a release that its first-quarter loans increased $995.6 million, as compared with a year ago, and its assets grew by $1.1 billion to $13.4 billion.

“Strong loan growth is giving us a good start to the year and is contributing to assets worth more than $13.4 billion,” said Garth Warner, Servus’s president and CEO.

“We are cautiously optimistic for the year and can see that residential mortgages and commercial lending are still strong, meaning Alberta is still a great province to live and work in.”

Servus’s fiscal year began Nov. 1.

During the subsequent three months, its loans grew by $152.1 million, its deposits increased by $313.1 and its assets rose by $287 million.

Just Posted

Alberta’s status of women minister joins Twitter debate over women’s marches

EDMONTON — A minister in Alberta’s NDP government has chastised a tweet… Continue reading

Canada faces angry Americans in pivotal sixth round of NAFTA talks

Canada will be hosting an annoyed and angry United States as the… Continue reading

Arts and Craft (Beer) evening set for Feb. 3

Raising money for Red Deer Arts Council

‘Hobbit’ director Peter Jackson making WWI documentary

LONDON — “The Lord of the Rings” director Peter Jackson is transforming… Continue reading

Hot summer ticket: $130K could get you on a dive to the Titanic off Newfoundland

ST. JOHN’S, N.L. — Are you a risk-taking adventurer with $130,000 to… Continue reading

WATCH news on the go: Replay Red Deer Jan. 21

Watch news highlights from Red Deer and Central Alberta

Two Canadians, two Americans abducted in Nigeria are freed

Kidnapping for ransom is common in Nigeria, especially on the Kaduna to Abuja highway

WATCH news on the go: Replay Red Deer Jan. 21

Watch news highlights from Red Deer and Central Alberta

Liberals quietly tap experts to write new paternity leave rules

Ideas include creating an entirely new leave benefit similar to one that exists in Quebec

Insurers say Canadian weather getting hotter, wetter and weirder

Average number of days with heavy rain or snow across Canada has been outside norm since spring 2013

Are you ready for some wrestling? WWE’s ‘Raw’ marks 25 years

WWE flagship show is set to mark its 25th anniversary on Monday

VIDEO: Thousands join women’s march events across B.C.

Today marks one year since the first Women’s March on Washington

In photos: Get ready for Western Canadian Championships

Haywood NorAm Western Canadian Championships and Peavey Mart Alberta Cup 5/6 start… Continue reading

WATCH: Red Deer city council debates cost-savings versus quality of life

Majority of councillors decide certain services are worth preserving

Most Read


Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month