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Strengthening your credit union

Federalization

We want to become the first federal credit union headquartered in Saskatchewan. We're thrilled to bring Responsible Banking to all of Canada!

Better for everyone

82% of our members voted in favor of us becoming a federal credit union.

Federalization and responsible banking work together. For you, it means:

  • continued cash rewards,
  • free products and services,
  • great rates, and
  • community development.

For our staff members, it means exciting career opportunities.

And for our credit union, we:

  • have access to more members,
  • can diversify outside of Saskatchewan borders, and
  • will be more resilient today and tomorrow.

Download our information booklet for more details about our exciting future.

Federalization Questions

The process involves several layers of approval - our Innovation team is making amazing progress closing outstanding recommendations to put us across the finish line. We are still anticipating federalization will occur in 2022.

As a federal credit union, Innovation would be regulated by the Office of the Superintendent of Financial Institutions (OSFI) and the unlimited deposit guarantee provided by CUDGC would transition to the level of deposit insurance coverage provided by Canada Deposit Insurance Corporation (CDIC). For more information on Canada Deposit Insurance see the CDIC Disclosure Notice.

Deposit guarantee insurance is something you will likely never need. No one has ever lost a single dollar on insured deposits through either CDIC or CUDGC.

  • We’re financially strong.
  • We follow strict guidelines.
  • We have processes that ensure we remain viable.

Federal regulation only strengthens these processes and guidelines. For additional information on CDIC deposit guarantee visit their website.