NO-FEE STUDENT OFFER

No-Fee Chequing 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 Chequing 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 April 1, 2026, and December 31, 2026, (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 Chequing 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 Member Rewards Account, in the third month following the month, the account was opened. For example: If a Qualifying Account Holder opens their account in April 2026, and meets the Offer Conditions by June 2026, the $50 bonus would be deposited by July 31, 2026. The Qualifying Account Holder’s No-Fee Chequing 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 Chequing 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. 

The $10 youth cash dividend is given each quarter upon Innovation Board approval to members 18 years of age and under. Learn more about Member Rewards.

$50 Member Referral Offer Terms & Conditions

Between July 1, 2025, and October 31, 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:  

1. Successfully open an Innovation Federal Credit Union No-Fee Chequing Account (the “Account”).  

2. Deposit a minimum of $5.00 into their account to pay for the cost of the membership share fee; and 

3. 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 Chequing 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 2026, and meets the Offer Conditions by September 2026, the $50 bonuses will be deposited by October 31, 2026. The Referred New Member’s No-Fee Chequing 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 Chequing 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.