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$50 Member Referral Offer Terms & Conditions
Between July 1, 2025, and June 30, 2026, (the “Offer Period”) selected Innovation Federal Credit Union members are eligible for a $50 Member Referral Bonus (the “Offer”), provided the following terms and conditions are met.
Eligibility:
Referring Members must be a current member of Innovation Federal Credit Union, have been invited to participate as a referring member, and have been provided a referral code by Innovation Federal Credit Union.
Referred New Members must be a new customer to Innovation Federal Credit Union, be 18 years of age or older, be a Canadian resident, meet Innovation Federal Credit Union’s membership and account opening approval criteria, and cannot have been an Innovation Federal Credit Union member since January 2016. This offer is not available to residents of Quebec.
Offer Conditions:
The referring member will be eligible to receive the $50 referral bonus, after the referred new member has met the following conditions:
Successfully open an Innovation Federal Credit Union No-Fee Bank Account (the “Account”).
Deposit a minimum of $5.00 into their account to pay for the cost of the membership share fee; and
After 60 days of successfully opening their Account:
Has conducted a minimum of 15 incoming or outgoing transactions from the Account, and
The Account must be active and in good standing (not in an unauthorized overdraft or in a delinquent status) during the 60-day period.
Additional Information:
After the Offer Conditions have been met, the $50 Offer will be deposited into the Referring Member and Referred New Members’ Innovation Federal Credit Union No-Fee Bank Account or other operating account, in the third month following the month, the referred new members’ account was opened. For example: If a Referred New Member opens their account in July 2025, and meets the Offer Conditions by September 2025, the $50 bonuses will be deposited by October 31, 2025. The Referred New Member’s No-Fee Bank Account must be active and in good standing (not in an unauthorized overdraft or in a delinquent status) at the time of the Offer payment.
The Referred New Member will be charged a fee of $30 if they close their No-Fee Bank Account within 180 days of opening the Account, as per Innovation Federal Credit Union’s Account and Fee Information brochure.
Offer is non-transferable and is not valid in conjunction with any other Offer. The recipient(s) of the Offer is solely responsible for any tax consequences associated with their receipt thereof.
Innovation Federal Credit Union employees and immediate family members of employees are not eligible for the Offer.
Innovation Federal Credit Union reserves the right to cancel or change these Terms and Conditions at any time without notice, for any reason, and to revoke the Offer for any member or applicant who appears to be manipulating or abusing the Offer or appears to be engaged in any suspicious/fraudulent activity.
No-Fee Bank Account $2,500 Giveaway Draw
Between April 1, 2026, and June 30, 2026 (the “Offer Period”) Qualifying Account Holders* will be entered into a draw to win a $2,500 Cash Giveaway prize, provided the following terms and conditions are met:
Terms & Conditions
1. Eligibility
*Qualifying Account Holders must be a new customer/member to Innovation Federal Credit Union (“Innovation”), be 18 years of age or older, be a Canadian resident (excluding Quebec), meet Innovation’s membership and account opening approval criteria, and cannot have been an Innovation member since January 2016.
2. Offer Conditions
Qualifying Account Holders will be entered into a draw to win a $2,500 Cash Giveaway prize after meeting the following conditions:
Successfully open an Innovation No-Fee Bank Account (the “Account”) between April 1, 2026, and June 30, 2026, through the Online Account Opening Application on Innovation’s website;
Deposit a minimum of $5.00 into their Account to pay for the cost of a membership share.
Enroll in digital banking through Innovation’s mobile app or online banking platforms.
3. Additional Information
After the Offer Conditions have been met, the Qualifying Account Holder will be entered into the draw to win a $2,500 Cash Giveaway prize. The draw will occur the week of July 6, 2026, and the winner(s) will be randomly selected. Winner(s) will be notified by phone or email. Winner(s) will be provided with a cash prize of $2,500. A direct deposit will be deposited to the winning member(s) No-Fee Bank Account or other operating account.
The Qualifying Account Holder’s account(s) must also be active and in good standing (not in an unauthorized overdraft or in a delinquent status) at that time of the prize draw. If the No-Fee Bank Account is opened as a joint account, the primary account holder will be entered into the prize draw. If the draw is won by a jointly opened account, the prize will be jointly awarded to the account holders.
By accepting the prize, the winner(s) consent to Innovation publishing their name and prize description on Innovation’s digital channels, including but not limited to social media, digital screens, and website, as well as print publications.
The Qualifying Account Holder will be charged a fee of $30 if they close their No-Fee Bank Account within 180 days of opening the Account, as per Innovation’s Account and Fee Information brochure.
Limit of one draw entry per Qualifying Account Holder, including Joint Account Holders. The recipient(s) of the Offer is solely responsible for any tax consequences associated with their receipt thereof.
Innovation Federal Credit Union and Innovation Wealth employees and immediate family members of employees are not eligible for the Offer.
Innovation reserves the right to cancel or change these Terms and Conditions at any time without notice, for any reason, and to revoke the Offer for any customer/member who appears to be manipulating or abusing the Offer or appears to be engaged in any suspicious/fraudulent activity.