Strengthening your credit union

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

Strengthening your credit union

Large red maple leaf with people on cell phones walking

Better for Everyone

82% of our members voted in favor of us becoming a credit union with national reach. It is thanks to your support and endorsement of this transition that we can continue to offer competitive products and services, give back to the communities we serve, and grow into the future. You’re helping us secure the future of your credit union!

This strategy and our Responsible Banking™ philosophy work hand in hand.

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.

How will Innovation change?

Having national reach changes where we may operate, but there’s a lot that will never change. We would still be a Saskatchewan-based credit union committed to:

Your day-to-day interactions with us wouldn't change a bit.

  • No need to order new cheques or cards.
  • Account numbers won’t change.
  • And most importantly, you’ll have access to the same products and services delivered by the same friendly professionals wherever you are, whenever you need us.

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 2023.

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.