Lasting impact on our communities

A financial leader that truly gives back to community.

‘Giving back to the community’ is a common mantra among financial institutions (FI). They are powerful words to use in a feel-good marketing initiative. But how many actually put their money where their mouths are when it comes to proving how they live this mantra? Big banks may write a cheque to the local chapter of a national organization, but they often lack meaningful connection with the community and take minimal interest in the well-being of the local economy. Like big box retailers, they are usually driven by quarterly profit projections and stock prices.

When it comes to authentically giving back to the community, the truest measurement of an FI’s commitment is reflected in how deeply and personally embedded they are in the form of tailoring products and services to the financial needs of the people they serve. It’s also reflected in a commitment to creating jobs, volunteering, championing young leaders, serving on boards and providing meaningful access to face-to-face financial services.

Innovation Credit Union is one FI that lives this kind of dedication every day and in every interaction with its communities. Headquartered in Saskatchewan, Innovation believes and is committed to sustainable development of communities. Innovation has taken this co-operative commitment even further by making community responsibility and sustainability a core value in its strategic plan. From its leadership to its front-line team, Innovation believes that creating exceptional value includes doing its part to promote growth in communities and regions they serve. Innovation CEO Daniel Johnson says, “We take seriously the intrinsically valuable role that we can play in our communities. Our commitment as a financial leader is to feed into prosperity, not off it. This belief has been fundamental to our growth, success and vision.”

The credit union is also helping to foster the next generation of professionals with a Summer Student Program designed to empower young people living in their communities to explore a career in the financial services industry. This initiative is backed by a commitment to hire exemplary students from the program. Innovation invests in an average of 12 students each year, allowing them to gain experience in all areas of the organization, from front-line to support roles, as well as opportunities to contribute to meaningful projects. These students become part of the Innovation family, studying and adopting the credit union’s values and culture, all while observing some of the challenges that come with striving to be a financial provider of choice. Innovation truly cares for the leaders of tomorrow, offering them a place to learn and grow in a professional setting.

Innovation’s willingness to go above and beyond in its commitment to community resulted in a recent designation as a Caring Company through Imagine Canada. The Caring Company program is Canada’s premier public expression of recognition in leadership and excellence in community investment. Caring Companies like Innovation contribute a minimum of 1% of their pre-tax profits to the communities where their employees live and work. They lead by example and set the standard for corporate giving in Canada.

Actually, Innovation consistently exceeds Imagine Canada’s 1% benchmark, donating at least 2% of its pre-tax profits back into its communities each year. In 2017, the credit union gave back 2.25% (or $466,260) in the form of sponsorships, community development, financial services and scholarships. Over the last decade donations have amounted to $5,662,738. In addition to these financial commitments, Innovation staff are active volunteers, lending their time and talents to charities and organizations that they hold close to their hearts. In 2017 alone, Innovation staff donated over 14,000 hours to local charities.

Innovation believes in helping at home first and that starts with giving back to the cities and towns that they serve. They create jobs and opportunities by staffing their branches with local experts or by training them to become the experts. Senior leadership is active in the community and employees are involved in many local organizations. You’ll see them at hockey arenas, curling rinks, softball fields, community events and local soup kitchens, pitching in with enthusiasm. Innovation staff also drives the length and width of the province of Saskatchewan in their two Mobile Advice Centres (MAC) to ensure that members have access to banking services in underserved and remote communities. Add to this the credit union’s generous offerings such as its Member Rewards program and No-Fee Bank Account and it’s clear that Innovation is truly giving back to its members and its communities every day.

About Innovation Expand/Collapse

Headquartered in Saskatchewan, Innovation Credit Union provides a full range of financial services to over 51,000 members including individuals, businesses, and organizations across the province. In 2018, its membership voted in favor of becoming a federal credit union that will enable Innovation to do business anywhere in Saskatchewan and all of Canada. Through the lens of Responsible Banking and innovation, Innovation Credit Union reinvests its profits into delivering economically viable solutions for all Canadians to access mutually beneficial and affordable world class financial products and services – wherever and whenever members need them.

Our Purpose Expand/Collapse

At Innovation Credit Union, we strive to redefine banking by helping Canadians simplify their lives and reach their financial goals by reinvesting profits into our members, our communities, and our people. Now that’s Responsible Banking!

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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.

Caring Company