Servus Credit Union announces staff layoffs

A Servus Credit Union location in west Edmonton on May 4, 2022 (John Hanson/CTV News Edmonton).

Alberta's largest credit union is laying off staff, according to a video statement that was posted to YouTube on Tuesday.

The bank will not say how many employees are affected other than "a few people in various areas" across Alberta.

"Regrettably, staffing changes are often necessary to realize an organization's full potential. That's the case for Servus Credit Union today," said Chief Transformation Officer Michelle Belland in the 44-second video.

"Everyone has been treated fairly and respectfully in their departures."

On Thursday, a Servus spokesperson clarified that affected employees were informed one-on-one of their layoff and a town hall meeting was held for staff. The video was created and posted to YouTube as a public announcement for media outlets.

Servus Credit Union has more than 100 locations in Alberta and has roots dating back to 1938.

In a quarterly update on March 22, the company publicly reported "net income of $28.6 million for the first quarter of the 2022 fiscal year, up 17.9% from the first quarter of Servus’s 2021 fiscal year."