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.

FILCAS $50/$50 Offer

You will earn a $50 bonus using FILCAS50 code while opening an account. This is also a great opportunity to help FILCAS earn $50 by referring to your FILCAS Membership ID. Simply enter the promo code FILCAS50 applying. You together win $100!

Between July 1, 2024, and June 30, 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:

(a) 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.

(b) After 60 days of successfully opening their Account:

(i). Has conducted a minimum of 15 incoming or outgoing transactions from the Account, and

(ii). 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 new members’ No-Fee Bank Account or other operating account, in the third month following the month, the new members' account was opened. For example: If a New Student Member opens their account in July 15 2024, and meets the Offer Conditions by December 31, 2024, the $50 bonus would be deposited by October 31, 2024. The 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 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’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. 

No-Fee Bank Account $500 Giveaway Draw 

Between January 1, 2025,  and June 30, 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.

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 January of 2025, they will be entered into the January 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. 

$50 Member Referral Offer Terms & Conditions

Between January 1, 2025, and June 30, 2025, (the “Offer Period”) selected Innovation Federal Credit Union (“Innovation”) 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, have been invited to participate as a referring member, and have been provided a referral code by Innovation.

Referred New Members 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.

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 No-Fee Bank Account (the “Account”).

2.    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 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 January 2025, and meets the Offer Conditions by March 2025, the $50 bonuses will be deposited by April 30, 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 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 member or applicant who appears to be manipulating or abusing the Offer or appears to be engaged in any suspicious/fraudulent activity.