ABCU Credit Union & Innovation Federal Credit Union Merger

Find up-to-date details about our exciting partnership! We're seeking regulatory approval for the first interprovincial credit union merger.

ABCU Credit Union & Innovation Federal Credit Union Merger

ABCU Credit Union and Innovation Federal Credit Union logos


Informational Sessions

You can learn more about this exciting proposal at our virtual information session, June 3rd, 7 PM to 9 PM CST.





Voting Information

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.

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Voting Package

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)

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Amalgamation Agreement

View the Amalgamation Agreement (pdf) between ABCU and Innovation Federal Credit Union.



News Releases

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May 6, 2025

Alberta Government Approves Amendments to the Credit Union Act

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March 17, 2025

ABCU & Innovation Merger Update

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July 4, 2024

ABCU & Innovation Boards Approve Business Case to Pursue Merger

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January 5, 2024

Innovation and ABCU Announce Plans to Explore First-Ever Interprovincial Merger



Frequently Asked Questions


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.

Who is Innovation Federal Credit Union and where are they located?

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.

  • 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.

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.

What is a federal credit union?

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).

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

If I have more questions about the merger, who can I speak to?

You can:

When is the vote taking place?

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.

Who is eligible to vote?

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. 

How and where can I vote?

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.

When will the results be announced?

We will announce the results at the Annual and Special Meeting on June 26, 2025, and on our website shortly thereafter.

How are the votes counted?

We use an independent 3rd party electronic voting system to manage the voting process. This ensures your vote is anonymous and accurately accounted for.

What will the Merged Credit Union be named?

It will be called Innovation Federal Credit Union.