The area is losing another cornerstone business of importance to those committed to the revitalization of the Chinatown and 107th Avenue business districts. Servus Credit Union has announced that its 107th Avenue branch will relocate to Ice District.

Servus has been a fixture in the Central McDougall neighbourhood for decades. The Servus branch in Boyle Street closed about 10 years ago and the 107th Avenue branch was redesignated as the Chinatown branch. Many other financial institution branches in neighbourhoods north of downtown have closed over the past several decades. This led to the Servus 107th Avenue branch becoming the primary banking institution for many in the Boyle Street and McCauley neighbourhoods.

First built as the headquarters of the former Union Centre Credit Union, the two-storey building has a retail branch on the main floor and offices on the second floor. Located on the southwest corner of 107th Avenue and 103rd Street, the branch has served several generations of nearby residents.

James Thomas, Leader of Retail and Major Cities for Servus Credit Union, identified several factors for the decision, including a decline of in-person visits as members do more of their banking online. Servus is also relocating its Petroleum Plaza branch near the Legislature to Ice District.

“We are confident that this new location will showcase the credit union with a flagship location in one of Edmonton’s vibrant and high-profile areas, while continuing to meet the needs of members from nearby neighbourhoods,” said Thomas. “The good news is we aren’t going far, and we believe the new branch offers an enhanced member experience with modern banking amenities.”

“All employees will be offered comparable roles to continue to provide members with the best credit union experience. There will be no job losses from this consolidation,” Thomas said.

The consolidated branch will be located on the north side of 104th Avenue between the casino entrance and the Oilers Entertainment Group office. Construction is currently underway. Free member parking will be available in the parkade below the arena building with entry and exit from 102nd Street. 

Staff from the Petroleum Plaza Branch will be temporarily relocated to the 107th Avenue branch on June 6th. The expected move date to the new location will take place later in the summer.  Thomas says 60 days notice will be provided prior to the exact date of relocation. 

Thomas noted that the new Ice District branch will not offer safety deposit boxes. “Any members using this service will need to remove all contents by mid-June. Our staff will be happy to assist members in finding an alternative location, such as the Inglecroft Branch at 11245 124th Street, which offers safety deposit boxes and is the nearest option,” he said.

Thomas said that, after the 107th Avenue branch relocates, Servus will put the building and the surrounding property up for sale.

John Kolkman lives in McCauley. He is the Treasurer of the paper’s Board of Directors and also a Block Carrier.