You can learn more about this exciting proposal at one of our information sessions. We have both in-person opportunities and virtual.
Say "yes" to one of the first-ever federal-provincial credit union mergers! You can vote on this exciting proposal from June 2 - 12, 2025. Stay tuned for access to our voting site.
ABCU Credit Union and Innovation, with your support, would like to merge. Learn more about this exciting proposal and how you can vote!
View our Voting Package (pdf)
View the Amalgamation Agreement (pdf) between ABCU and Innovation Federal Credit Union.
ABCU Credit Union is a full-service financial institution passionate about providing high quality, personalized advice to each member, ensuring their financial dreams become a reality.
With a network of two conveniently located branches in the Edmonton region, ABCU Credit Union serves over 6,700 members offering a range of services with over $274 million in administered assets.
Beyond their commitment to individual financial success, ABCU Credit Union, through its ABCU Community Foundation provides access to financial assistance to the communities they serve.
Innovation Federal Credit Union is one of the largest credit unions in Saskatchewan with approximately 500 amazing employees and more than $4.93 billion in managed assets. Our purpose is to simplify banking for Canadians!
We serve 65,000+ 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.
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:
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.
The first step in our process is to gain regulatory approvals. If we are approved to pursue the merger, we will hold member vote meetings. Rest assured we will communicate both our approval and member vote meetings in the future.
That’s correct. Both memberships must vote in favour. We’ll share more voting details with you after we receive regulatory approval.
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.
You can:
The vote will take place electronically beginning on June 2 2025, until the end of voting period, June 12, 2025.
You will also be able to vote on the proposed merger at our Annual and Special Meeting on June 26, 2025.
You can vote if you hold membership shares of Innovation as of May 10, 2025, and are 16 years of age or older. You may cast only one ballot.
Instructions on how to vote will be provided with the Notice of Meeting on June 2. A link to the voting site will also be available on our website during the voting period.
We will announce the results at the Annual and Special Meeting on June 26, 2025, and on our website shortly thereafter.
We use an independent 3rd party electronic voting system to manage the voting process. This ensures your vote is anonymous and accurately accounted for.
It will be called Innovation Federal Credit Union.
