ABCU Credit Union is a full-service financial institution passionate about providing high-quality, personalized advice to each member, ensuring their financial dreams become a reality.

With a network of two conveniently located branches in the Edmonton region, ABCU Credit Union serves over 7,000 members offering a range of services with over $274 million in assets under management.

Beyond their commitment to individual financial success, ABCU Credit Union, through its ABCU Community Foundation provides access to financial assistance to the communities they serve.

Innovation Federal Credit Union is one of the largest credit unions in Saskatchewan with approximately 500 amazing employees and more than $4.93 billion in assets. They serve 62,000+ outstanding members digitally and across 25 advice centre locations and offer in-person service in both Regina and Saskatoon. Their purpose is to simplify banking for Canadians. As a member-owned cooperative, they use profits to make life better for you, their communities, and our world.

• They offer free banking solutions to save you money.
• They provide quarterly returns to members. Since 2007, they’ve returned nearly $45.62 million to members.
• They reinvest 2 - 4% of pre-tax profits back into the communities they serve. Since 2007, they’ve donated over $9 million to communities.

It's all part of their Responsible Banking™ philosophy!

With the overwhelming support of their membership, they’re excited to be the first federal credit union in Saskatchewan. 

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.

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, they 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.

The first step in our process is to gain regulatory approvals. If we are approved to pursue the merger, we will hold member vote meetings. Rest assured we will communicate both our approval and member vote meetings in the future.

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

Absolutely not. Jobs may or may not change in the future, but rest assured there will be no job loss as a result of the merger. 

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