Consumer Loans

Consumer loans, also known as personal loans, are used to finance a variety of purchases, almost all major acquisitions except the purchase of a home. You may apply for a consumer loan, for example to pay for a stove, a car, a boat, new clothes, a vacation or furniture.

Not sure whether to lease or buy a vehicle? Wondering how much your loan payments will be? Make sure to check out our online calculators for help!

Community Development Loans

Community Development Loans give you the opportunity to invest in a community project. Innovation Credit Union is proud to support local initiatives that enhance community pride and provide economical benefits to Saskatchewan.

Quick Loans

An Innovation Credit Union Quick Loan is a type of revolving credit that you can access, without having to complete a new application and documentation. The loan is established with a maximum credit that may fluctuate up and down over the term of the loan and requires regular monthly payments. There are two payment options: a blended payment (each payment is the same amount ) or a percentage balance payment (payments fluctuate according to the balance owing).

RRSP 10 Year Quick Loan - Variable, Blended

Experience the freedom of revolving credit to maximize RRSP contributions for up to a 10-year period. An Innovation Credit Union RRSP 10 Year Quick Loan is a type of revolving loan designed specifically to help you maximize your RRSP contribution room by being able to access funds without having to complete a new application and documentation. Advances from this loan are for RRSP contributions only and re-advances within the credit limit are available at any time. The interest rate on this account is variable and scheduled payments are required based on the credit limit not the outstanding balance.

RRSP 1 Year Quick Loan - Variable Blended and Non-Blended

Experience the freedom of revolving credit for your annual RRSP contribution. Innovation Credit Union RRSP 1 Year Quick Loan advances are for RRSP contributions only and allow you to make re-advances within the credit limit at any time. The interest rate on this account is variable and scheduled payments are required. For the blended option scheduled payments are calculated over a 12-month period and are based on the credit limit not the outstanding balance. The non-blended product is a lump sum payment option due within one year or less of the advance and monthly interest payments are not required.

Education Loans

Are you planning to attend a college, university, technical or trade school? Finance your tuition, books, and general living costs with an Innovation Credit Union Education Loan. The Education Loan is available for students age 17-24 inclusive and the Mature Student Education Loan is for those 25 and older. These loans are variable and offered in blended or non-blended terms.

Be sure to check out our Future Education Calculator to help you determine how much you'll need to save for yours or your child's education.

Line of Credit

Establish a Line of Credit with Innovation Credit Union and assure yourself of ready cash when you need it. A Line of Credit is an ongoing loan with one-time approval and is attached to your existing chequing account.

A Line Of Credit guarantees you:

Instant Cash - You borrow by simply writing a cheque or by using your Member Card through ATM's or by using your Global Payment card.
Substantially lower rates than retail credit cards.
Convenience - cash when you need it.
Protection - against over-drawing your account or returned cheques for inadequate funds.

Skip-Your-Payment

Do you ever feel that you could use a little extra cash? Or perhaps a winter getaway is in your plans this year? Wouldn't it be nice if you could skip a personal loan or mortgage payment to give you some extra money in your pocket?

You can! At Innovation Credit Union, we value members who keep their loans in good standing. To say "thank you" for being financially responsible, we are offering our Skip-Your-Payment option to members*. You may have the option to skip one of the following:

One monthly payment, or
Up to two consecutive bi-weekly payments or semi-monthly payments, or
Up to four consecutive weekly payments.

The principal and interest on your personal loan/mortgage will be carried over to the end of the term and your skipped payment can be repaid at anytime. Plus, no fee will be charged for this service!

For more information on this offer, please give us a call at:

North Region: 306.446.7000 or toll free 866.446.7001
South Region: 306.778.1700 or toll free 800.381.5502

or stop by one of our convenient locations and put some extra money in your pocket today!

* on approved credit, some conditions may apply.