DBRS Ltd. (Morningstar DBRS) has assigned a Long-Term Issuer Rating of BBB (high) to Innovation Federal Credit Union and confirms Short-Term Issuer Rating of R-1 (low) with stable trends. The credit ratings are supported by Innovation’s earning power, “where it largely outperforms peers,” the rating states.

“Having Morningstar DBRS recognize Innovation as a strong and stable financial institution is very encouraging,” says Innovation CFO Sheldon Hess. “They recognize our growth potential as a federal credit union and see our progress in diversifying our membership and business opportunities through digital transformation. We look forward to leveraging this potential further in 2025.”

Morningstar DBRS is a highly reputable global credit rating agency with vast financial industry knowledge, specifically relating to the Canadian credit union system. The agency assesses overall credit union strength based on five distinct areas: franchise, earnings, risk, funding and liquidity, and capitalization.

For further details on the credit rating, visit DBRS’s website: www.dbrsmorningstar.com.