Innovation Federal Credit Union is one of the largest credit unions in Saskatchewan with approximately 500 amazing employees and more than $5.506 billion in managed assets. Our purpose is to simplify banking for Canadians!

We serve [[MEMBER_COUNT]] outstanding members across 26 advice centre locations and offer in-person service in both Regina and Saskatoon.

As a member-owned cooperative, we use our profits to make life better for you, our communities, and our world.

• we offer free banking solutions to save you money
• we provide quarterly returns to our members, 
• we reinvest 2 - 4% of pre-tax profits back into the communities we serve.  Since 2007, we've donated over $10.4 million to our communities.

It's all part of our Responsible Banking™ philosophy!

With the overwhelming support of our membership, we're excited to be one of the first credit unions in Canada to be a Federal Credit Union under the Bank Act.

The two credit unions share a common vision, values, and culture, as well as a commitment to innovation, member service, and community involvement. In addition to these commonalities, a merger would result in more cost-effective banking, improved member experience, and a broader range of products.

A federal credit union can promote and offer products and services to people across Canada. Being a federal credit union lets Innovation:

• meet challenges such as changes in consumer behavior and technology needs.
• compete with banks or technology companies that provide financial services.
• diversify and minimize risk by seeking deposits across the country to support lending in the communities we serve
• have access to more members, and
• be more resilient today and tomorrow.

Federal credit unions are regulated by the federal Office of the Superintendent of Financial Institutions (OSFI) and eligible deposits with a federal credit union are insured by Canada Deposit Insurance Corporation (CDIC).

Yes, they do.  We’re excited to get started on the application process!

Because this is the first-ever interprovincial merger, the approval process is complex and will take some time. We’ll share updates throughout the approval journey.

That’s correct. Both memberships must vote in favour. We’ll share more voting details with you after we receive regulatory approval.

Eligible deposits are insured by CDIC, the same as for all federally regulated bodies such as the major Chartered Banks.

Deposit guarantee insurance is something you will likely never need.

• Innovation is financially strong.
• They follow strict guidelines.
• They have processes that ensure they remain viable.

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

Absolutely not. Jobs may or may not change in the future, but rest assured there will be no job loss as a result of the merger. 

On the merger date, ABCU’s Board of Directors will be dissolved. Brent Trombley, who serves as 2nd Vice Chair and Chair of the Governance, Ethics and Human Resource Committee, will be appointed to Innovation's Board of Directors.

Daniel Johnson, the current Innovation CEO, will be the CEO of the merged credit union. The merged credit union will continue to be managed by Innovation’s executive team.

The name of the merged credit union would be Innovation Federal Credit Union.

Both credit unions are strong supporters of their communities. This partnership will only further enhance community contributions.

Our Beaumont and Edmonton City Centre branches will remain open for a minimum of ten years.

We believe our systems will merge in late April 2026. We will share more details about the process and what you can expect in early 2026.

Our primary goal is to ensure a smooth transition for our members, and we expect account numbers to remain unchanged.

Your debit card will continue to work as usual. However, you will receive a new Debit Mastercard® after the merger takes place. We'll share more details with you closer to our merger date.

Innovation uses a different online banking platform. After the merger, you will need to update your username and password. You'll hear from us closer to our banking system merger date with login details and FAQs.

You can:

• email webmail@innovationcu.ca (Innovation) or myhr@abcu.ca (ABCU)
• call 1.866.446.7001 (Innovation) or 780-929-1380 (ABCU)
• visit this page for all news releases, FAQs, and updates