In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews
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Servus personal loans review

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Servus Credit Union Personal Loan
2.5
★★★★★
Finder score
3.9
★★★★★
APR Range
Unknown
Loan Amount
Unknown -
Loan Term
Unknown
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Our verdict

Compare loan options and eligibility criteria at one of the largest credit unions in Canada.

Servus is one of the largest credit unions in Canada and offers a full range of banking products. Its loan options include unsecured personal loans, small loans, student loans, home equity lines of credit and more. Borrowers can earn cash through Servus' Profit Share rewards program, and you can start the loan application process online. However, if you have bad credit, you may need to consider other lenders.

Best for: People with good to excellent credit who want to borrow from a member-owned institution.

Pros

  • Loan options to suit a wide range of needs
  • Large branch network plus the convenience of online/mobile banking
  • Canada's fourth-largest credit union

Cons

  • Not suitable for bad credit borrowers
  • You'll need to become a member
  • Detailed application process

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews

Servus was inluded in the Finder: Personal Loans Customer Satisfaction Awards 2023.

Overall customer satisfaction score: 78.92%

What is Servus Credit Union?

Servus Credit Union is a member-owned financial institution based in Alberta. It operates a large network of branches across Alberta and offers a full range of banking products including chequing and savings accounts, mortgages, credit cards, loans and investment accounts.

Most recommended

Servus Credit Union made it to the Top 15 Most Recommended personal loan providers in the Finder: Personal Loans Customer Satisfaction Awards 2023.

Is Servus legit?

Servus can trace its history back to 1938 and the formation of Capital City Savings & Credit Union in Edmonton. Following a series of mergers with other Alberta credit unions, it is now Alberta’s largest credit union and the fourth largest in Canada.

Servus Credit Union is based in Edmonton and has over 100 branch locations across Alberta. It is owned by its almost 380,000 members and was named as the number-one bank in Canada in 2022 on Forbes’ list of the World’s Best Banks.

What are Servus’s loans?

Some of the main loan options from Servus include:

  • Personal loan. When you need a lump sum to pay for a large expense, Servus personal loans offer easy access to funds. The loans are unsecured and the interest rate you get will depend on your financial situation.
  • Fast Forward Small Loan. This payday loan alternative offers loans ranging from $200 to $2,500 that can be repaid over terms ranging from 3 months - 2 years. You can get your cash within an hour, there are no fees, and the loan has a lower APR than other short-term loans from alternative lenders. Learn more about small loans.

Other loans offered by Servus include home equity lines of credit, unsecured lines of credit, student loans and car loans.

What we like about Servus loans

Wide range of loan options. From personal loans and payday loan alternatives to home equity lines of credit and student loans, Servus offers borrowing options to suit a wide range of financial needs.

  • Get cash fast. If you make an appointment to take out a Fast Forward Small Loan, you can get your loan funds in as little as an hour. Learn more about emergency loans.
  • Large branch network. Servus has over 100 branches across Alberta, so it’s easy to find a convenient location if you want some face-to-face customer service.
  • Established financial institution. Servus has a history that dates back to 1938 and is one of the largest credit unions in Canada, so you get the confidence of dealing with a large financial institution.
  • 24/7 customer service. If you have a question about or problem with your loan, Servus customer support is available 24/7.
  • Profit Share program. When you take out a loan with Servus, you’re eligible for its Profit Share program which pays cash rewards to members.

What to watch out for

  • You’ll need to become a member. You’ll need to purchase membership shares to take out a loan from Servus.
  • Credit score requirements. As Servus is a traditional lender, most loans are only available to borrowers who have good credit or better. If you have bad credit, learn about bad credit loans in Alberta here.
  • Application process. While you can begin the application process by filling out an online form, you’ll then need to wait for Servus to contact you and provide detailed information and documentation to support your application.

Alternatives to Servus personal loans in Alberta

1 - 9 of 9
Name Product Ratings APR Range Loan Amount Loan Term Broker Compliance Requirements
Spring Financial Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
10.8% - 46.99%
$500 - $35,000
6 - 60 months
Requirements: min. income $2,000/month, 3+ months employed, min. credit score 550
Loans Canada Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
6.99% - 46.96%
$300 - $50,000
3 - 60 months
Loans Canada is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
Requirements: min. credit score 300
LoanConnect Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
8.99% - 46.96%
$500 - $50,000
3 - 120 months
LoanConnect is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
Requirements: min. credit score 300
easyfinancial Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
9.99% - 46.96%
$500 - $100,000
9 - 120 months
Requirements: min. income $1,200/month
Mogo Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
9.90% - 46.96%
$500 - $35,000
6 - 60 months
Requirements: min. income $35,000/year, min. credit score 600
Fig Personal Loans
Finder Score:
★★★★★
12.99% - 31.99%
$2,000 - $30,000
24 - 60 months
Requirements: min. income $5,000/month, 6+ months employed, min. credit score 700
SkyCap Financial Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
12.99% - 39.99%
$500 - $10,000
9 - 36 months
Requirements: min. income $1,666.67/month, full time employment/pension, min. credit score 575, no bankruptcy
MDG Financial Installment Loan
Not yet rated
29.78% - 44.80%
Up to $1,600
Up to 36 months
Requirements: no min. income, min. credit score 560
goPeer Personal Loan
Finder Score:
★★★★★
8.99% - 34.99%
$1,000 - $35,000
36 or 60 months
Requirements: recommended income $35,000/year, min. credit score 600, min. 5-year credit history.
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What do Servus reviews have to say?

Servus Credit Union reviews vary from branch to branch. Positive reviews mention factors such as friendly and helpful customer service and an easy process when opening a loan or account. However, those that left negative reviews complained about factors like poor customer service and refused applications.

Summary of Servus reviews

FeatureDetails
BBB accreditedNo
BBB ratingA+
Google reviewsRating varies from branch to branch
Trustpilot reviews2.4 out of 5 stars, based on 7 Servus reviews
Facebook reviewsNo Servus Credit Union reviews available
Apple App Store reviews2.2 out of 5 stars, based on 281 Servus reviews
Google Play reviews2.6 out of 5 stars, based on 1,165 Servus reviews
Customer reviews verified as of17 August 2023

Servus reviews from Finder survey

What are the eligibility requirements of a Servus loan?

You’ll need to be at least 18 years of age to qualify for a Servus loan. You’ll also need to meet credit score, income and debt-to-income ratio requirements, and become a Servus member.

How to get a Servus loan

If you want to get a Servus loan and you’re not an Alberta resident, you’ll need to phone the credit union or visit a branch. If you are an Alberta resident, you can begin the application process by filling out an online form. You will need to:

  • Select the type of loan you want to apply for
  • Enter your name and contact details
  • Specify how you would like Servus to contact you
  • Provide details of why you are applying for a loan

A Servus representative will then contact you within eight business hours to discuss your needs and guide you through the application process. You’ll need to provide:

  • Your Social Insurance Number
  • Proof of income
  • Details of your previous address (if you’ve been at your current address for less than two years)
  • Details of your assets and liabilities
  • Employment information

Bottom line

Servus offers loan products to suit a wide range of borrowing needs, and customers get the peace of mind of banking with one of the largest credit unions in Canada. Just be aware that if you have bad credit, you’ll probably need to look elsewhere to find a loan.

Frequently asked questions

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