Innovation Federal Credit Union
Saskatchewan-based federal credit union serving members across Canada.
Overview
Innovation Federal Credit Union is a Saskatchewan-headquartered federal credit union serving over 72,000 members across eight provinces; it became a federal credit union in 2023 and is merging with ABCU Credit Union effective April 1, 2026 in Canada's first interprovincial credit-union merger.
No-Fee Chequing Accounts
Free
Available with no minimum balance or monthly usage limits.
Current Rates
GIC Rate Ladder
| Term | Rate |
|---|---|
| 1-Year GIC | 3.00% |
| 3-Year GIC | 3.10% |
| 5-Year GIC | 3.25% |
Pros
- • Deposit insurance up to $100,000 per category through CDIC
- • Membership open to Canadians outside Quebec, no provincial residency required
- • No-fee chequing with no minimum balance or monthly transaction cap
Cons
- • Fewer specialized financial products and international banking services than other institutions
Best For
Products & Accounts
Membership Eligibility
Typically excludes Quebec residents. Verify directly with this credit union.
Open to all Canadians
Federally regulated credit union open to all Canadian residents.
Deposit Protection
CDIC
$100,000 per category
As a federal credit union, Innovation Fedetal Credit Union is insured by CDIC (Canada Deposit Insurance Corporation) at $100,000 per eligible category.
Digital & Access
- Mobile App
- Online Banking
- Interac e-Transfer
- ATM NetworkTHE EXCHANGE Network
- Digital Ratinggood
Rate and eligibility data is gathered from official credit union websites and verified comparison sources. Always verify rates directly on the official website before making financial decisions.
Official WebsiteRelated reading
