Save on bank fees. Earn cash rewards. Give to causes that matter.
| Product or Service | Savings/Year |
|---|---|
| No-Fee Bank Account Savings | $132 |
| Transaction Fee Savings | $60 |
| ding free ATM Savings | $120 |
Total Savings | $312 |
* For example purposes only. Savings per year amount is calculated using our competitors’ lowest monthly bank account fees, two ATM transactions per month, and two over limit transactions per month.
Speak to an Innovation advisor to calculate your potential savings today!
| Product or Service | Profit Sharing |
|---|---|
| $50,000 5-Year GIC | $253 |
| $400,000 5-Year Closed Fixed Mortgage | $2,680 |
| $60,000 5-Year Fixed Personal Loan | $818 |
| Youth Dividend (two children) | $80 |
| Monthly Transaction Rewards (family of four) | $120 |
Total Earnings | $3,951 |
* For example purposes only. Profit Sharing amount is calculated using an allocation rate of 2.79% and a dividend rate of 6.48%. Allocation and dividend rates are subject to change without notice. Monthly Transactions Rewards based on each family member earning the maximum $2.50 reward every month for a year.
Speak to an Innovation advisor to calculate your potential savings today!
Equity is the profits we earn that help keep our credit union strong. As an owner member of Innovation, you earn a portion of our profits. And as a thank you for letting us hold onto your equity portion, we pay cash dividends.
We build equity to serve you better:
We ensure your credit union is sound and stable.
A dividend is a payment to our owners, like you. It’s a portion of our profits that we share with you that you can save or spend. Our Board approves payment based on how our credit union is performing.
Your payments are based on:
1. Loan interest you’ve paid PLUS
2. Deposit interest you’ve earned
You’ll earn equity on:
So, the more equity you have, the more cash you’ll earn!
We also pay $10 cash every 3 months to youth ages 18 and under.
You can withdraw your cash dividends anytime you like. Simply transfer the available cash balance from your Member Rewards account to any account you like. You can also contact us to set up an automatic transfer for you.
You can also apply* to withdraw from the equity portion when:
*Equity withdrawals are at the full discretion of Innovation Federal Credit Union’s Board of Directors and Regulator.
You can earn Monthly Transaction Rewards simply by doing your everyday banking with us! You'll earn cash rewards for:
To be eligible, you must:
*For joint accounts: deposit will be made to the primary account holder's Member Rewards account.
Want to bank digitally?
Search "Innovation" from your favourite app store. Download the app and give us a call at 1.866.446.7001 to get started!
