|
City
of St. Albert announces naming sponsor for leisure centre
September 29, 2006
The City of St. Albert is proud to announce the naming sponsor for the new leisure centre, which opens to the public on Saturday, September 30 at 6:30 a.m.
Capital City Savings and Credit Union, soon to be Servus Credit Union, has signed a 15-year agreement worth $2-million to take on the naming rights. This deal will see western Canada's largest leisure centre open its doors as Servus Credit Union Place.
"This has been one of St. Albert's most ambitious projects and I am extremely proud to say we're opening on time, on budget and with a naming sponsor whose organization is synonymous with community support," says Mayor Paul Chalifoux. "The support for this facility is another great example of their commitment to communities."
"We are pleased to support Servus Credit Union Place for the benefit of the people of St. Albert and the entire Capital Region," said Gail Stepanik-Keber, Vice President Marketing for Capital City Savings. "We entered this partnership as another means of helping people build a better quality of life and drawing attention to the fact that Capital City Savings will become Servus Credit Union on November 1, 2006."
When Servus Credit Union Place opens its doors, residents of St. Albert, their families and friends from surrounding communities will be able to take advantage of a facility that has something to offer for everyone. Whether it's a day of leisure, a solid workout or guidance on the road to better health and fitness, Servus Credit Union Place will offer programs and services for people of all ages.
The facility will include: a 2000-seat performance arena, two regulation NHL-sized ice sheets, an indoor skating pond, a water play park, a community gymnasium, two regulation sized field houses, fitness and wellness studios, a children's play zone, community meeting rooms, a four lane running track, a nutritional kitchen, and more. Along with the facility's fitness and leisure attractions, Servus Credit Union Place will include a variety of shops and service outlets, such as: Don Cherry's Restaurant, Booster Juice, Mootastic, St. Albert Source for Sports, and Dynamic Sports Physiotherapy.
Capital City Savings will officially amalgamate with Servus and SAFECU on November 1, 2006 and operate as Servus Credit Union. Together, the new credit union will serve 181,000 member-owners from 49 locations in 27 Alberta communities. It will be the largest credit union in Alberta, with nearly $3-billion in assets and approximately 800 employees.
Membership at Servus Credit Union Place includes access to City of St. Albert affiliated venues, such as: Fountain Park Recreation Centre, Grosvenor Park Pool, and the Kinex and Akinsdale Arenas.
Capital
City Savings announces shared branch agreement with Apex Credit Union
July 10, 2006
(Edmonton, Alberta) - Capital City Savings and Credit Union Limited and Apex Credit Union Ltd. announced an innovative new shared branch agreement. Apex Credit Union will provide teller services to Capital City Savings members in Calgary and Capital City Savings Personal Bankers will be housed in some Apex branches to provide lending and investment services.
"Shared branches are a unique arrangement within the Alberta credit union system that will enable us to provide services to our 2,400 Calgary members without incurring high capital costs," explained Harry Buddle, President and CEO of Capital City Savings. "In return, we will provide Apex with an additional source of revenue and access to our banking platform."
"We are pleased to create this innovative collaborative arrangement with Capital City Savings, stated Darren Keast, CEO of Apex Credit Union. "This is an excellent example of the kind of co-operative thinking that will keep credit unions at the forefront of financial services to Albertans."
Capital City Savings and Apex will begin limited shared branch operations in November 2006. Apex Credit Union will adopt the Capital City Savings banking system in May 2007, after which full branch services will be available to Capital City Savings members in Calgary. Capital City Savings will pay Apex a fee for every teller transaction. Signage will be shared, with the Apex name more prominent.
Background Information
Capital City Savings
Capital City Savings and Credit Union Limited is the largest credit union in Alberta, offering a complete line of banking services and products, including business, investments, trust and insurance services. Capital City Savings currently serves 166,000 retail and business members through a network of 41 locations in 20 central and northern Alberta communities. Capital City Savings was named one of Canada's 50 Best Managed Companies since 2003. The credit union actively supports community activities where members and employees live and work.
Assets: $2.7 billion
Members: 166,000
Employees: 700
Apex Credit Union
Apex Credit Union Ltd. was incorporated in 1940. Apex has four branch locations: Downtown, SAIT, University of Calgary and Mount Royal College.
Assets: $60 million
Members: 4,300
Employees: 17
May 25, 2006
(
Edmonton
,
Alberta
) – Rising housing costs and interest rates are making it increasingly difficult for first time home buyers to enter the market.
Capital City Savings No Sacrifices 35-Year Mortgage can help these buyers afford a home by reducing their monthly payments.
"With the No Sacrifices 35-Year Mortgage first-time home buyers can own a home and still afford to live," said Gail Stepanik-Keber, Vice President Marketing at Capital City Savings.
Mortgages have traditionally been amortized over 15 to 25 years.
While a shorter amortization period means the consumer pays less overall, the monthly payments will be higher.
Increasing the amortization from 20 years to 35 years will reduce the monthly payment by nearly $300 (based on a $200,000 mortgage at 5.95% for 5 years).
For the average first time home buyer $300 a month can be the difference between owning now or not at all.
|
Amortization in years
|
Monthly Payment
|
Difference vs. 20 year amortization
|
|
20
|
$1418.77
|
--
|
|
25
|
1273.68
|
$145.09
|
|
30
|
1183.40
|
$235.37
|
|
35
|
1123.98
|
$294.79
|
"Our employees work with members to help them make smart choices," continued Ms. Stepanik-Keber.
"We educate our members about their choices and show them ways to reduce their debt as their financial situation changes."
By making pre-payments, lump sum payments or increasing monthly payments as budget allows, home buyers could pay off their mortgage sooner.
Bi-weekly or weekly payments will also help to pay down a mortgage faster.
Capital
City
Savings No Sacrifices 35-Year Mortgage can be applied to a traditional mortgage with a down-payment or a 0% down mortgage (OAC).
back to top
May 17, 2006
(Edmonton, Alberta) - Capital City Savings celebrated the opening of its newest branch in Grande Cache on Saturday, May 6, 2006, with a free barbecue for local residents and dignitaries.
Over 400 community members joined Grande Cache Mayor Louise Krewusik, and Capital City Savings representatives Harry Buddle, CEO; Doug Forsyth, Vice President Community Branches; and Karen Barrett, Grand Cache Branch Manager at the event. The first 30 mothers to arrive were presented with potted mums - just in time for Mother's Day. Capital City Savings also presented local resident, Mr. Al Goring, with a Capital City Savings Jacket for being the first member of the branch.
"Grande Cache residents have welcomed us into their community with open arms," said Karen Barrett, Branch Manager. "We are excited to be here and look forward to bringing the personal service that our credit union is known for to the community."
The Grande Cache branch is located in a temporary location at 4600 Pine Plaza while renovations to a permanent location in Shoppers Plaza are completed. The Grande Cache branch has a staff of four and can provide Grande Cache residents and businesses access to Capital City Savings' complete range of financial products and services. They would be happy to meet with you to discuss how Capital City Savings can help with your financial needs.
back to top
Capital
City Savings earns major sustainability award for its support of community needs from The Ethical Funds Company
April 12, 2006
Edmonton, AB -
In recognition of its commitment to supporting a rural community and enhancing community well-being, Capital City Savings has won a
Building a Better Future
award from
The Ethical Funds Company
.
The award was presented to Harry Buddle, President and CEO of Capital City Savings at the credit union's Annual General Meeting in Edmonton on Friday, April 7. The
Building a Better Future
award recognizes credit unions that have demonstrated outstanding corporate social responsibility and sustainable business practices, primarily in the areas of community and employee relations, environmental awareness, corporate governance and respect for human rights.
"At
Ethical Funds
, we are proud to support credit unions that are making a difference in their community," says Elaine McHarg, Senior Vice President, Marketing & Chief Marketing Officer of
The Ethical Funds Company
. "Credit unions have long been the unsung heroes in corporate social responsibility - demonstrating their support of initiatives based upon their community benefit, not based solely on the bottom line. We salute Capital City Savings for the positive contribution they've made."
Capital City Saving's submission focused on the opening of a new branch in Mundare, following the departure of the town's only bank. It introduced a credit union to the community, demonstrating its commitment to rural Alberta and the importance it places on sustaining these communities. Without the opening of this branch, Mundare would not have had a financial institution or ATM machine in the town.
The results have been positive - not only providing much needed financial services to the area, but also helping to promote vitality in the community through employment, advertising in local media, and participation in sports and cultural events.
"Our credit union strongly believes in supporting communities to build a better Alberta," says Harry Buddle, President and CEO of Capital City Savings. "Our members, our Board, and our staff give life to this belief every day, and this award is recognition of their efforts to make a positive difference."
The Ethical Funds Company
will make a donation on behalf of Capital City Savings to Capital City Savings Kids Foundation. Since its inception in 1996, the foundation has been dedicated to raising funds for the purpose of improving the quality of life for children. Over $200,000 has been contributed to grassroots community programs for children, including school breakfast programs, reading and literacy programs, family support programs and the Stollery Children's Hospital.
The presentation in Edmonton was the first of three
Building a Better Future
awards to be given this year by
The Ethical Funds Company
. The second will be awarded in Halifax on April 11 and the third in Saskatoon on April 12.
™The Ethical Funds Company
is a trademark owned by Ethical Funds Inc.
Capital City
Savings exceeds 2005 goals, posts record year
March 8, 2006
(Edmonton, Alberta) - Capital City Savings will report a year of many accomplishments at the credit union's Annual General Meeting tonight, including achievement of all business objectives for 2005 in member satisfaction, geographic expansion, enhanced service and financial results.
"We started 2005 with an ambitious new three year Strategic Business Plan that has guided Capital City Savings to a year of many successes," stated Harry Buddle, President and CEO of Capital City Savings. "In doing so, we have created benefits for our member-owners, employees, the communities we serve and the credit union itself."
Member satisfaction is a key measure at Capital City Savings, and member surveys showed 94% overall satisfaction with the credit union in 2005. A portion of all employee bonuses is tied directly to ensuring focus on superior service for our members, and measured by member satisfaction. Thanks to outstanding efforts by all employees, Capital City Savings was able to exceed the high target set for this area. Mr. Buddle pointed to other contributing factors such as Capital City Savings' expanding branch network, enhanced Internet banking, new product development, competitive rates and services such as trust and estate planning.
A year of integrating operations with the former Yellowhead, Wildrose and Clover Bar credit unions, ongoing operational efficiency reviews, and expanding commercial operations resulted in record earnings of $22.3 million, up 11.3% over last year. Capital City Savings shared this with member-owners by distributing $8.4 million in dividends, equal to 38% of the credit union's pre-tax earnings. Key performance figures for 2005 include (at financial year end October 31):
-
Assets - $2.5 billion
-
Member loans - $2.2 billion
-
Member deposits - $2.3 billion
-
Income - $22.3 million (before dividends and income taxes)
-
Member equity - $156.9 million
"While we have grown into a significant presence in the financial industry in Alberta, we have not lost sight of the cooperative principles that make us strong," explained Peter Galloway, Chair of the Board of Directors. "We continue to believe in delivering personal service and sharing our success with member-owners, employees and communities, qualities that make Capital City Savings unique."
2006 First Quarter Highlights
The momentum gained during 2005 continued in the first quarter of 2006, with earnings up 81.4% compared to the same period last year*. Key indicators included (at January 31, 2006):
-
Assets - $2.6 billion
-
Member loans - $2.3 billion
-
Member deposits - $2.4 billion
-
Income - $7.9 million (before dividends and income taxes)
-
Member equity - $162.1 million
*Note: Capital City Savings incurred one time amalgamation costs of $665,000 in the first quarter of 2005. Percentage increase of earnings without this one time cost was 57.4%.
Geographic expansion continued as Capital City Savings passed a resolution to amalgamate with Servus Credit Union and SAFECU Credit Union. The members of Servus and SAFECU credit union voted overwhelmingly to approve the
amalgamations. The amalgamations will officially take place November 1, 2006.
SAFECU Credit Union has approximately 2,600 members, assets of $29 million, 13 employees and one branch in Edmonton. Servus Credit Union has six branches in north east Alberta, 13,000 members, $207 million in assets and 73 employees.
After several years of preparation and research, Capital City Savings announced plans to change its name to Servus Credit Union effective November 1, 2006. Capital City Savings is adopting the name to make a stronger statement to its member-owners and the market about its unique identity as a credit union and its promise of service.
Capital City Savings and Credit Union Limited offers a complete line of personal and business banking services and products, including investments, trust and insurance services. Capital City Savings will formally amalgamate with Servus Credit Union and SAFECU Credit Union on November 1, 2006. The new credit union will assume the name of Servus Credit Union. Servus Credit Union will be the largest credit union in Alberta with nearly $3 billion in assets and 181,000 members.
Approximately 800 employees will provide members with financial services through a network of 49 locations serving 27 Alberta communities. Capital City Savings has been named one of Canada's 50 Best Managed Companies since 2003. The credit union actively supports community activities where members and employees live and work.
back to top
Capital
City Savings to open new branch in Grande Cache
January 26, 2006
(Edmonton, Alberta) - Capital City Savings announced plans to open a new full service branch in Grande Cache. Alberta's largest credit union will open a temporary location in March 2006 while a permanent facility is being renovated for a summer opening.
"The Town of Grande Cache invited us to consider a branch late last autumn, and we already have a number of individual and business members in the community," explained Harry Buddle, President and CEO of Capital City Savings. A feasibility study confirmed the opportunity, citing Grande Cache's bustling economy.
Capital City Savings plans to operate in a temporary location in Pine Plaza until the credit union's new home in Shoppers Plaza is ready. The new Capital City Savings Grande Cache branch will employ four full time staff offering both personal and commercial banking services.
"We are excited to offer our unique credit union brand, with superior personal service, profit sharing and community involvement, to the citizens of Grande Cache," stated Mr. Buddle. "Our 94% member satisfaction rating and $8.4 million in shared profits last year make our credit union different from a bank, and we're eager to prove that in Grande Cache."
Capital City Savings offers a complete line of banking services and products, including business, investments, trust and insurance services. Capital City Savings has been named one of Canada's 50 Best Managed Companies since 2003. The credit union actively supports community activities where members and employees live and work.
back to top
ServUs
Credit Union members approve amalgamation
January 20, 2006
(Edmonton, Alberta) - Members of ServUs Credit Union approved a resolution to amalgamate with Capital City Savings at their Annual General Meeting on January 19, 2006. ServUs members voted 100% in favour of amalgamation.
ServUs Credit Union and Capital City Savings will formally amalgamate on November 1, 2006. On the same date, the new credit union thus formed will amalgamate with SAFECU Credit Union. The members of SAFECU Credit Union approved the amalgamation at a Special Membership Meeting on January 11, 2006.
"Amalgamation with Capital City Savings offers our members all the advantages of a larger financial institution - more branches, more products and services - while maintaining the qualities of personal service, local ownership and profit sharing that they appreciate," stated Denis Richer, President of the ServUs Board of Directors.
The new credit union formed by the three-way amalgamation will operate under the name of Servus Credit Union as of November 1, 2006. The new Servus Credit Union will be the largest in Alberta with nearly $3 billion in assets and 181,000 members. Approximately 800 employees will provide members with financial services through a network of 48 locations serving 26 central and northern Alberta communities.
"On behalf of the management team, I want to thank our members for their business, and assure them that they will continue to receive the same quality service they are accustomed to," said Ray Duchesneau, CEO of ServUs Credit Union. "It has been great to get to know so many supportive members during my 25 years with ServUs, and I look forward to continuing our relationship." Mr. Duchesneau will become Vice President Eastern Operations in the new credit union.
"We are very pleased that the members of ServUs chose to amalgamate with Capital City Savings," said Peter Galloway, Chair of the Capital City Savings Board of Directors. "Both organizations, our members, employees and the communities we serve will all benefit from a stronger credit union."
back to top
SAFECU
Credit Union members approve amalgamation
January 12, 2006
(Edmonton, Alberta) - At the Special Membership Meeting of SAFECU Credit Union held on the evening of January 11, 2006, 98% of members attending approved a resolution to amalgamate with Capital City Savings and Credit Union Limited.
"SAFECU Credit Union is very pleased to join Capital City Savings," said Al Huntley, Chair of the SAFECU Board of Directors. "Our members are seeking expanded services and locations so this amalgamation will fulfil their financial needs."
SAFECU Credit Union and Capital City Savings will formally amalgamate on November 1, 2006. SAFECU will join a credit union formed by the planned amalgamation of Capital City Savings and Servus Credit Union that will be effective the same date. The members of Servus Credit Union will vote on the amalgamation at a Special Membership Meeting on January 19, 2006.
The new credit union will operate under the name of Servus Credit Union as of November 1, 2006. The new credit union will be the largest in Alberta with nearly $3 billion in assets and 181,000 members. Approximately 800 employees will provide members with financial services through a network of 48 locations serving 26 central and northern Alberta communities.
back to top
Capital
City Savings member wins interest plus
January 10, 2006
(Edmonton, Alberta) - Elsie Chanasyk of Edmonton opened a term deposit at Capital City Savings and got a rate of return that most investors only dream of - 20% interest for one year. She will receive $3,000 in interest at the end of the year as the result of her win.
Ms. Chanasyk won the 20% rate of return for opening a new term deposit at Capital City Savings between September 28 and December 6, 2005. The maximum eligible deposit amount was $20,000. Ms. Chanasyk's name was chosen from almost 15,000 eligible entries.
Capital City Savings also presented prizes of $300 value to Sharon Blunt of Edmonton, Margaret Lundgren of Edmonton and Ronald Nelson of Evansburg. Their names were draw at random from among members who returned a special "Blue Tag" coupon to their branch during the same time period. Each will receive a $300 gift card at a major retailer of their choice.
Capital City Savings offers a variety of investment options, including term deposits, a high interest rate savings account, mutual funds and registered plans.
|
