CALGARY, Alberta, June 20, 2024 (GLOBE NEWSWIRE) -- Keith Ogston, a 73-year-old retired truck driver based in Calgary, AB became the city's newest millionaire this morning. As the winner of the 2024 Servus Big Share® contest, he saw $1 million deposited into his Servus Credit Union (Servus) account.
Servus Big Share® is an annual savings contest aimed at encouraging Albertans to save money and ultimately adopt healthy financial habits. For every $500 that a Servus member's savings and investment balances grew between February 1 and April 30, 2024, members received five entries into the random draw for $1 million. At a time when economic headwinds, like inflation and elevated interest rates, are putting pressure on Albertans' spending, Servus Big Share® encouraged everyone to remember that even small contributions to savings add up over time.
For members like Ogston, a relatively new member of Servus, the winnings from the Servus Big Share® contest help him ensure a stable future. "I was shocked to learn I won the $1 million," says Ogston. "I was doing well before, but this is going to make retirement much simpler for me."
For Ian Burns, President and CEO of Connect First and Servus Credit Union Ltd., the credit union arising from the May 1, 2024 merger between Servus and connectFirst Credit Union, the contest reflects Servus's deep commitment to reimagining member financial fitness.
"Financial fitness means that our members' money management behaviours – which include planning, saving, borrowing and spending – help them feel in control, resilient and able to pursue opportunities that matter to them," says Burns. "Servus Big Share® is a part of that, encouraging members to save even a little, regardless of what's happening in the economy."
Ogston is delighted his saving habits translated to a big win. "How often do you win money for just banking?" says Ogston, who plans to invest most of the money. "But, first, I'm going to do is plan a trip somewhere fun this summer."
During the 2024 Servus Big Share® contest, Servus's over 470,000 members, including over 7,000 new members who joined during the three-month contest period, increased their savings, collectively, by over $320 million.
Servus Big Share® is one way through which Servus shares its profit with members. In 2023, Servus also paid a record amount of more than $68.1 million in Profit Share® to members, who are also owners, which enables every Servus member to receive a percentage of profits by way of cash and dividends. Since starting the Profit Share® program in 2009, Servus has returned more than $760 million to Albertans.
Servus and connectFirst credit unions merged on May 1, 2024, creating Connect First and Servus Credit Union Ltd., Alberta's largest credit union. Together, the newly formed credit union has more than 3,000 employees and serves approximately 500,000 members across 140 branches in 80 Alberta communities. The combined credit union is under unified leadership, but Servus and connectFirst continue to operate largely as they have while integration efforts are underway.
Servus and connectFirst are trade names of Connect First and Servus Credit Union Ltd. All rights reserved.
About Servus Credit Union Ltd.
Servus Credit Union has served Albertans for over 80 years with a full line of secure financial services. The financial institution has more than 100 branches in 61 communities throughout the province as well as options for online, mobile and telephone banking. Servus's noble purpose is to help members reimagine their financial fitness so that they feel good about their money. For more information about Servus, call 1.877.378.8728 or visit servus.ca.
Media Contacts:
Servus Credit Union
media@servus.ca
(825) 402-0740
