If you’re a farmer, rancher or agri-business owner, you know how important it is for your financial institution to understand your unique business needs. And to find that institution in Alberta, you need look no further than your local branch of Servus Credit Union.
Brayden LelekRelationship OfficerBusiness – South“We go out right to people’s houses to meet with them to see what kinds of products are going to work best. We can help observe their operation, and use our knowledge to help fit them to our different ag products.”
Brayden Lelek, Servus Credit Union
With more than 80 years of experience and $400 million in agricultural assets, Servus says it’s there for livestock and grain producers’ daily and long-term personal and business banking needs. It offers farmers a financial one-stop shop at competitively priced fees on all products, each uniquely tailored to the operation, says Erica Flaten, senior relationship manager team lead.
Erica FlatenSenior Relationship Manager Team Lead
Business – South
“We’re a full-service provider. We look at all aspects,” she says. That includes insurance and even farmland appraisals. “We talk to producers about retirement and succession plans and we do joint calls between ourselves and all of our partners about investment and advice,” says Flaten. “We bring in all the partners to assist them in every aspect of their life, plus on top of that, we do tailored financing as well.”
Agribusiness specialists
Servus offers standard mortgages and term loans but also specializes in agri-business solutions and expertise. Farmers can access agricultural lines of credit — which can be secured by inventory or land — and Evergreen Financing for equipment or cattle, explains relationship manager Brayden Lelek. As a pre-approved loan that doesn’t need reapplication, Evergreen allows producers to prepare for the unexpected.
Servus also provides a New Agriculture Producers Plan, giving them unlimited transactions for $25 a month, which is waived with a minimum monthly balance of $35,000. The plan also includes a free personal account on top of a business account. “It’s a really good program,” says Lelek.
Servus can administer the AgriInvest program, which helps producers manage small income declines through a government-funded income-matching program. By contributing up to 1.5% of their allowable net sales annually into an AgriInvest account, producers receive a matching contribution from the federal and provincial governments.
AgriInvest benefits include:
• Competitive interest rate
• Free transfers between daily banking and savings plans
• A free quarterly statement
• Member-owner advantage
• No monthly fee
• One free banking transaction per month
Staying in touch
Servus relationship advisers will provide customized advice with in-person visits to farms.
“We go out right to people’s houses to meet with them to see what kinds of products are going to work best,” says Lelek. “We can help observe their operation, and use our knowledge to help fit them to our different ag products.”
The one-on-one relationship doesn’t end after the visit. It’s ongoing, with site visits continuing at least once a year. Lelek says that as a rancher himself, he appreciates the fact that producers can always talk to advisers who understand their business.
“There’s a lot of decisions that can be made with the help of industry experience and industry knowledge, which can be a roadblock at some other institutions.”
One of Servus’s biggest advantages for agri-business is its network of more than 50 rural branches. “We’re located throughout Alberta, and all of our decision-making is done locally,” says Flaten. “Our branches in rural communities tailor to farmers, and our decision-making isn’t sent back east to someone who doesn’t know what’s happening Alberta.”
Farmers can set up a meeting with a Servus adviser by calling 1.877.378.8728 or visiting www.servus.ca/business/agri-business, where they can choose a product or service that’s right for them.
