Innovation Members
Choose from any of the following categories to learn more about the first-ever Canadian interprovincial merger.
ABCU Credit Union & Innovation Federal Credit Union Merger
It's official! Our merger is approved! Find up-to-date details about the first ever Canadian interprovincial credit union merger.
Banking System Merger
The ABCU Credit Union and Innovation merger is right around the corner! We’re thrilled to announce that our credit unions will merge effective April 1, 2026.
Even though this is our official merger date, the integration process will take time. An important first step is adding ABCU member accounts to our banking system.
We are planning to add ABCU members to our banking system April 24th to 26th (dates subject to change). There will be some service disruptions as we transfer our new members to our systems. We apologize for any inconvenience this may cause. You'll hear from us with finalized dates soon.
Presentation
Thank you to those who were able to attend one of our information sessions in May and June! In case you missed it, here is the presentation (pdf) and video from our virtual event.
Voting Information
Thank you for saying "yes" to one of the first-ever federal-provincial credit union mergers!
Voting Package
ABCU Credit Union and Innovation, with your support, would like to merge. Learn more about this exciting proposal.
View our Voting Package (pdf)
Amalgamation Agreement
View the Amalgamation Agreement (pdf) between ABCU and Innovation Federal Credit Union.
News Releases
Frequently Asked Questions
Remember to visit the ABCU Credit Union merger information page if you are an ABCU member for more relevant FAQs.
Who is ABCU Credit Union and where are they located?
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.
Why do the credit unions want to merge?
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.
Does this mean ABCU needs to apply to become a federal credit union?
Yes, they do. We’re excited to get started on the application process!
Will the approval process take a long time?
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.
Do both credit union memberships have to vote in favor for a merger to happen?
That’s correct. Both memberships must vote in favour. We’ll share more voting details with you after we receive regulatory approval.
Will there be any job loss if the credit unions merge?
Absolutely not. In fact, there may be new job opportunities/training opportunities that arise from a merger
How will the Board of Directors look within the merged credit union?
On the merger date, ABCU’s Board of Directors will be dissolved. Brent Trombley, who serves as the ABCU Board 2nd Vice Chair and Chair of the Governance, Ethics and Human Resource Committee, will be appointed to Innovation's Board of Directors.
Who will be the CEO of the merged credit union?
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.
Will there be a name change to either credit union?
The name of the merged credit union would be Innovation Federal Credit Union.
How will this impact each credit union’s commitment to local community support?
Both credit unions are strong supporters of their communities. This partnership will only further enhance community contributions.
Will any of ABCU’s current branches close because of this merger?
Our Beaumont and Edmonton City Centre branches will remain open for a minimum of ten years.
When will our banking systems merge? Will there be any service outages?
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.
Would my account number change if we merged?
Our primary goal is to ensure a smooth transition for our members, and we expect account numbers to remain unchanged.
Why does the approval process take so long?
Because this is the first-ever interprovincial merger, the approval process is complex and takes some time. We’ll share updates throughout the approval journey and merger process.
When is the official merger date?
The official merger date will be April 1, 2026.
Who all needs to approve the merger?
A merger of this nature needs a number of approvals:
- Both credit unions’ Board of Directors
- Both credit unions’ memberships
- The Competition Bureau
- Office of the Superintendent of Financial Institutions (OSFI)
- Canada’s Federal Minister of Finance
In addition,
- The Alberta Credit Union Deposit Guarantee Corporation and Alberta's Minister of Finance needed to approve ABCU's federal continuance for the purpose of merging.
- The Alberta Government needed to approve amendments to the Alberta Credit Union Act to allow for an interprovincial merger.
If I have more questions about the merger, who can I speak to?
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