Join the 67,500+ members who bank with us!
Why bank with Innovation?
You'll hear more about these offers and programs once you open your account.
Join the 67,500+ Canadians who bank with us!
"I’ve been using Innovation’s No-Fee Bank Account for years. The app is so convenient and easy to use!"
"I’ve been using Innovation’s No-Fee Bank Account for years. The app is so convenient and easy to use!"
"There are no conditions with this account. I can just bank and know it’s free!"
"There are no conditions with this account. I can just bank and know it’s free!"
"This is the best bank account I’ve found. I’ve saved hundreds in fees. Thanks, Innovation!"
"This is the best bank account I’ve found. I’ve saved hundreds in fees. Thanks, Innovation!"
No-Fee Bank Account available for personal use only. SIN is not required as a condition of opening an account. If you prefer not to provide your SIN for our online application, please visit one of our branch locations to apply or call 1.866.446.7001 for more information.
ATM transactions for the No-Fee Bank Account are free at ding free ATM locations.
Innovation Federal Credit Union banking services are not available in Quebec.
$50 Student Account Opening Offer:
Between August 1, 2025, and December 31, 2025, (the “Offer Period”) Qualifying Account Holders* are eligible for a $50 Innovation Federal Credit Union ("Innovation") New Member Bonus (the “Offer”), provided the following terms and conditions are met:
Terms & Conditions
1. Eligibility
*Qualifying Account Holders must be a new customer to Innovation, be 18 years of age or older, be a Canadian resident, meet Innovation’s membership and account opening approval criteria, and cannot have been an Innovation member since January 2016. This offer is not available to residents of Quebec.
2. Offer Conditions
As a Qualifying Account Holder, you will be eligible to receive the $50 Offer, after meeting the following conditions:
Successfully open an Innovation No-Fee Bank Account (the “Account”) through Innovation’s Digital Onboarding Platform and enter a designated promo code during account opening.
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.
3. Additional Information
After the Offer Conditions have been met, the $50 Offer will be deposited into the Qualifying Account Holder’s No-Fee Bank Account or other operating account, in the third month following the month, the account was opened. For example: If a Qualifying Account Holder opens their account in August 2025, and meets the Offer Conditions by October 2025, the $50 bonus would be deposited by November 30, 2025. The Qualifying Account Holder’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 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 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 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 who appears to be manipulating or abusing the Offer or appears to be engaged in any suspicious/fraudulent activity.
$50 Member Referral Offer Terms & Conditions
Between July 1, 2025, and December 31, 2025 (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 $500 Giveaway Draw
Between July 1, 2025, and December 31, 2025 (the “Offer Period”) Qualifying Account Holders* will be entered into a monthly draw to win one of two $500 Giveaway prizes, 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 one of two $500 Giveaway prize, in the month of their account opening, after meeting the following conditions:
Successfully open an Innovation No-Fee Bank Account (the “Account”) through the Online Account Opening Application on Innovation’s website; and,
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 corresponding monthly draw to win one of two $500 Giveaway prizes. For example: If a Qualifying Account Holder opens their account in July of 2025, they will be entered into the July 2025 draw to win one of two $500 Giveaway prizes. The draw will occur the week following month end, and winner(s) will be randomly selected. Winner(s) will be notified by phone or email. A direct deposit of $500 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 monthly draw. If the No-Fee Bank Account is opened as a joint account, the primary account holder will be entered into the monthly 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 for joint Account Holders. The recipient(s) of the Offer is solely responsible for any tax consequences associated with their receipt thereof.
Innovation 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.