CEO Garth Warner to retire after leading Servus Credit Union to new peaks in performance, service and security

Edmonton, Alberta, CANADA


EDMONTON, Alberta, July 06, 2020 (GLOBE NEWSWIRE) -- Garth Warner, President and Chief Executive Officer of Servus Credit Union, announced his intention to retire April 29, 2021. Mr. Warner has led Servus Credit Union through a period of enormous expansion in member services and organizational capacity while reaffirming its foundational cooperative principles. His announcement comes as Servus Credit Union enters its 8th decade of serving Albertans and he leaves the credit union as a well-capitalized, secure, respected and thriving organization.

“I’m honoured to have served our members and communities by building a credit union that successfully balances our purpose of shaping member financial fitness with sustainable financial stewardship,” said Mr. Warner. “I’ve been privileged to work alongside many exceptional, dedicated colleagues who have been so generous with their advice and support, and true to our values, making Servus one of the leading credit unions in Canada. I’m proud of the credit union we have created together and how we are fulfilling the cooperative promise to members, employees and communities in Alberta.”

“The Board of Directors is most grateful to Garth Warner for his unwavering dedication and hard work, which has contributed to Servus’s successes and service to our members,” said John Lamb, Chair of the Servus Credit Union Board of Directors. “During his tenure Garth has shepherded our organization through both good and challenging times. He has led with integrity and courage. As a result, Servus Credit Union has consistently been one of the most successful credit unions and financial institutions in Canada. He is leaving Servus in a very strong position to meet our future opportunities and challenges."

Mr. Warner joined Servus in 1981 as a personal banker and was promoted through progressive positions of responsibility to become President and Chief Executive Officer in April 2009. Garth's focus throughout his tenure as President and CEO has been on responsible stewardship of the financial cooperative, and a firm commitment to leave the organization in better shape than he accepted it. He complemented his responsibility to this intergenerational trust with a dedication to leadership development, not only ensuring employees at all levels embraced their roles as leaders but also laying the foundation for future executive and senior leaders to grow and take over the credit union.  

Among Mr. Warner’s most proud and important accomplishments as the head of the credit union: 

  • Servus has grown 78%, from $9.5 billion in assets in 2009 to $16.9 billion today
  • Total equity has grown five times to $1.6 billion, making Servus one of the best capitalized credit unions in Canada 
  • Member satisfaction, member loyalty and employee engagement are among the highest in the Canadian financial industry 
  • $530.7 million in profit sharing returned to members since 2009
  • Development and launch of Servus's organizational values and noble purpose, Shaping Member Financial Fitness
  • Revitalization of cooperative principles in the organization’s outlook, planning and strategy
  • Creation of a can-do action-oriented culture that develops and promotes people from within and enables them to put members first
  • Servus was recently named the fifth best bank in Canada and first in Alberta by Forbes, based on customer recommendations. 

“Selecting the best person with the right fit for a complex financial cooperative like Servus will be a challenge,” said Mr. Lamb of the process to find a new CEO. “The Board of Directors will follow a well-planned search process which will take place over the balance of 2020 and will conclude very early in 2021. The board will evaluate both internal and external candidates in a search to begin soon. It is important for our members, employees and the organization that we take the time to identify the best possible candidate to lead Servus in shaping member financial fitness and building a better world.

“The Servus Credit Union Board of Directors has policies and procedures to ensure that Servus continues to have strong, capable leadership in place at all times,” he continued. “The board will make sure that Servus Credit Union continues to achieve its purpose of shaping member financial fitness by delivering the best financial advice, products and services to members.”

About Servus Credit Union Ltd.
At Servus Credit Union we're building a better world, one member at a time. We've been shaping the financial fitness of Albertans for 80 years with a full line of secure financial services. We help members manage their money wherever they are through 101 branches in 59 communities; online, mobile and telephone banking; and 1900 no-fee ATMs across Canada. We re-invest our profits in our members and the communities we serve. For more information, call 1.877.378.8728 or visit servus.ca.

For more information contact:

Chris Tse
Media & Story Consultant
Servus Credit Union
T: 587.594.3820
Email: chris.tse@servus.ca

www.facebook.com/servuscu
www.twitter.com/servuscu