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 67,500+ 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 - 3% 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.

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

Absolutely not. In fact, there may be new job opportunities/training opportunities that arise from a 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.

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

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, we 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.

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.

• You can visit CDIC’s website: What's covered — CDIC
• You can stop by one of our locations to speak to one of our staff members.
• You can give us a call at 1.888.929.7511

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.

Yes, you can. The next time you place a cheque order after merger weekend, you’ll receive Innovation cheques.

You bet! Credit cards will not be part of the initial merger process. You’ll hear directly from Collabria about card impacts.

You bet! You can use any ding free® ATM in our national credit union network surcharge-free.

Federal credit unions are required to let you know if your account balance or line of credit/overdraft protection balance falls below an amount you set (or $100 by default). The alert helps you avoid fees and reduce fraud.

You can adjust your limits after the banking conversion in Innovation’s online banking:

• Login (we’ll provide instructions on how to do so in March)
• Select your profile on the top right corner of the screen
• Select Manage Alerts > Balance & Transaction Alerts
• Enter your new balance threshold

All mortgages, loans, lines of credit, overdraft protection, investments and safety deposit box contracts will remain the same e.g. product types, rates, term length, protection, until it’s time to renew.

Innovation doesn’t have a USD Savings Account, but you will earn interest and cash dividends (Member Rewards) on your No-Fee USD Account.

Member Rewards is Innovation’s profit-sharing program. You can earn cash dividends every quarter by having savings and loans products with them. You can also earn cash for digital banking activities. 

You sure can! We won’t be transitioning to Innovation’s systems until after the banking system merger. 

Absolutely! You’ll still see the same friendly faces you know and trust after the merger.

We believe our systems will merge April 24th to 26th. We will share more details about the process and what you can expect soon.

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.

The banking system merger requires multiple third‑party vendors to align on a single date. Due to the system’s complex configuration and extensive testing requirements, the effort involved more than a year’s work. Since all third‑party vendors confirmed their availability for April 24^th to 26^th, this is the tentative time we agreed upon for the merger.

Our timelines depend on both regulatory approvals and our third-party vendors being ready for the system merger. If our timelines change, we’ll be sure to share new dates with you. Stay tuned to Innovation’s website for details.

Digital banking will not be available for ABCU or Innovation members during the banking system merger process. We’ll communicate more about the banking system merger in March. Stay tuned!

ABCU branches will remain open as scheduled on April 24, 2026. 

There may be a disruption in debit card services, so we recommend having cash or a credit card available during that time just in case.

Your account number will remain the same after the system merger.

Direct Deposits and pre-authorized payments will transfer over. There’s no need to re-create them.