Innovation Launches $200 Million Bearer Deposit Note (BDN) Programme

DBRS Limited (Morningstar DBRS) assigned a credit rating of R-1 (low) with Stable trend to Innovation Federal Credit Union’s (Innovation) short-term Bearer Deposit Notes programme. The BDNs will be used to diversify funding options while achieving national reach through capital markets.

DBRS Morningstar has vast financial industry knowledge, specifically on the Canadian credit union system. The agency assesses overall credit union strength based on five distinct building blocks which are franchise, earnings, risk, funding and liquidity, and capitalization.

For further details on the Notes programme, visit DBRS’s website: www.dbrsmorningstar.com.