To obtain a membership at Innovation Credit Union, you will
be asked for the following information:
- Name, address, and phone number
- Employer and occupation
- Social Insurance Number (this is now a legislated
- Date of birth
- Personal reference such as nearest living relative
- Two pieces of
signature identification such as a driver's license and provincial
health insurance card
This information is required to ensure that your personal business
remains strictly confidential and to minimize the incidents
of fraud or forgery.
The Member Equity Program allows members to share
in the operating surplus of Innovation Credit Union through allocations
equity account (based on interest paid on loans and earned on investments).
The allocation of the surplus earnings will be credited to a Member
Equity Account and retained as equity. The more business you do with Innovation Credit Union, the larger your equity allocation will be. All accounts including personal, personal trust, farm, business, and community organizations are included.
The Members' Equity Program is intended to:
- Allow members to share the financial success of Innovation Credit
Union through a patronage allocation.
- Increase the sense of ownership
by members by building a sound, locally owned and controlled financial
- Increase the amount of Innovation Credit Union’s
Capital to build member confidence, continue to support the products
and services to meet our members' needs, and provide for long term
The Member Equity program is unique to the co-operative system and provides owners the opportunity to share in the success of their credit union. You can take pride in knowing that Innovation Credit Union is building equity in order to ensure your credit union will remain strong and capable of meeting members' and community needs well into the future.