Earn interest at our best rate and pay no monthly fees by opening an Innovation savings account. Interest is calculated daily on the closing balance and paid at the end of each month.
Account Rates
| Balance | Interest rate | |
|---|---|---|
| $0.00 to $4,999.99 | 0.600% | Get This Rate |
| $5,000.00 to $99,999.99 | 0.600% | Get This Rate |
| $100,000.00 to $199,999.99 | 0.600% | Get This Rate |
| $200,000.00 plus | 0.600% | Get This Rate |
Our No-Fee USD Account is perfect for snowbirds or if you need to affordably convert your money. Earn interest and profit sharing dollars on your deposits, plus enjoy $0 transaction fees!
| Balance | Interest rate | |
|---|---|---|
| $0.00 to $4,999.99 | 0.100% | Get This Rate |
| $5,000.00 to $99,999.99 | 0.100% | Get This Rate |
| $100,000.00 to $199,999.99 | 0.100% | Get This Rate |
| $200,000.00 plus | 0.100% | Get This Rate |
Overdraft Rate
| Type | Rate |
|---|---|
| Any account, any balance | 19.800% |
Exchange Rates
Traveling soon? Looking for the best time to convert your currency? Contact us at 1.866.446.7001 for the latest exchange rates for the Mexican Peso, Euro, and Sterling Pound.
To purchase foreign currency:
- Call us at 1.866.446.7001 or
- Visit one of our locations
...to place your order for pick-up.
Effective date for US Exchange Rates: Aug 18, 2026
| Amount | Rate |
|---|---|
| If you deposit US cash to your account, use the rate of | 1.3454 |
| If you purchase US cash from Innovation, use the rate of | 1.4174 |
Deposits
| Amount | Rate |
|---|---|
| $1 to $999.99 | 1.3759 |
| $1,000 to $5,000 | 1.3759 |
| $5,001 to $25,000 | 1.3759 |
| $25,001 to $100,000 (contact us if amount is higher) | 1.3799 |
Purchases or Transfers
| Amount | Rate |
|---|---|
| $1 to $1,000 | 1.3989 |
| $1,001 to $5,000 | 1.3989 |
| $5,001 to $25,000 | 1.3989 |
| $25,001 to $100,000 (contact us if amount is higher) | 1.3949 |
Account, Overdraft, and Exchange Rates Frequently Asked Questions
What is a savings account?
A savings account is a deposit account designed to help you set money aside while earning interest. It is often used for short-term goals, emergency savings, or funds you want to keep separate from everyday spending.
Plus, with our Savings Account, you'll also earn Member Rewards cash.
What is a USD Account?
A USD Account is an account that holds funds in U.S. dollars. It can be useful if you:
- travel to the United States,
- shop in U.S. dollars,
- receive U.S. funds, or
- want to keep U.S. currency separate from Canadian-dollar accounts.
Plus, with our No-Fee USD Account, you'll also earn Member Rewards cash.
Is a USD Account useful for snowbirds?
Snowbirds and many others who travel between the States and Canada can access some major benefits with the No-Fee USD Account. You choose when your funds are converted from Canadian dollars to USD. And that helps you get the most out of each transaction.
Will the interest I earn in my USD Account be in USD?
Yes, the interest you earn will be in US funds.
Can I convert Canadian dollars to U.S. dollars using the No-Fee USD Account?
Yes. You can convert Canadian dollars to U.S. dollars through a simple transfer in online banking.
Do Innovation savings accounts earn interest on any balance?
You bet! You'll earn interest on your entire balance for both the Savings Account and No-Fee USD Account - whether your balance is small or large.
What is an overdraft?
An overdraft is an approved safety net on an account that can automatically cover unexpected expenses up to an approved limit. Interest is only charged on the amount used and is calculated daily on the closing balance.
What is an exchange rate?
An exchange rate is the value of one currency compared with another. For example, it determines how many U.S. dollars you'll receive when converting Canadian dollars, or how many Canadian dollars are needed to buy U.S. dollars.
Rates subject to change without notice.
Interest is calculated daily on the closing balance of your account and paid at month end. The interest rate is tiered which means as your account balance increases, so does your interest rate. Rates subject to change without notice.
Includes: Savings, US Dollar, Business, Community/Association, AgriInvest
Learn more about our accounts and services. Review our Account and Fee Information (pdf).
Identify the interest rates applicable to your account(s) and how they're calculated. Review our About Our Interest Calculations (pdf) document.