Buying your first home? Get up to $2,500* cash back!

Plus you'll earn Member Rewards for everyday banking!

Buying your first home? If you choose Innovation Credit Union's 2.89%* 5-Year Closed Fixed Mortgage, you'll get up to $2,500* cash back!

PLUS, with our Member Rewards program, you'll start earning rewards simply by doing your everyday banking with us.

Mortgage rate

We'll deposit your incentive* into your Member Rewards Account where you can transfer it to any account you choose to spend, or leave it in your Member Rewards account to earn even more money. We pay quarterly cash dividends based on the balance of your Member Rewards account and the dividend rate is very attractive, providing you with a great return.

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Need a mortgage calculator?
We have a number of mortgage calculators to help you determine affordability, payments, amortization and more.

Application Checklist
When applying for a mortgage, your lender will need some documents and information. Here is a mortgage application checklist to help you out.

* This offer applies to First Time Home Buyers* (the “Applicants”). Mortgage loans must have a principal amount of $100,000 or more, must be an Innovation Credit Union (“Innovation”) Fixed-Rate Closed mortgage loan at Innovation’s posted 5-year Closed Fixed (Special) mortgage interest rate, and must have a term of 5 years with an amortization of 25 years or less. Offer applies to consumer residential mortgage loans only.

Applicants must have an Innovation No-Fee Bank Account and Member Rewards Account. Pre-authorized mortgage payments must come from an Innovation bank account. Mortgage application must be submitted to Innovation by March 31, 2020 and mortgage must be funded within 120 days of application.

Qualifying Applicants will receive cash back based on their mortgage loan amount. Cash back amounts are tiered as follows:

o $1,000 cash back on a mortgage loan of $100,000 - $299,999
o $1,200 cash back on a mortgage loan of $300,000, - $499,999
o $2,000 cash back on a mortgage loan of $500,000 - $749,000
o $2,500 cash back on a mortgage loan of $750,000 or more.

Cash back amount will be deposited into the Applicant’s Innovation Member Rewards Account within 30 business days after mortgage funding. In the case of joint mortgages, the cash back amount will be divided equally amongst all mortgage holders. Investment income earned on Member Rewards Account balances may be taxable. If the offer ends before the 30 business days after funding, Innovation will still pay the cash back amount to the Applicants, provided the above terms and conditions are met.

Offer is subject to meeting Innovation's credit approval criteria. Offer may end or change at any time without notice. From time to time, and without notice, Innovation may change, supplement or amend these terms and conditions.

* First Time Home Buyers are defined as any of the following: An individual who has never purchased/owned a home; an individual experiencing the breakdown of a marriage or common-law partnership; or an individual who, in the last four (4) years, has not occupied a home that their current spouse or common-law partner owns or has owned. For more information visit:

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Board Niminations

From the desk of our CEO

Federal Continuance

For information on upcoming changes to DEPOSIT INSURANCE if we become a federal credit union, see our disclosure notice. Creditors who have concerns may contact Innovation Credit Union.

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