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If you have any questions about Innovation’s Digital Loan Application, we would love to help! You can talk to our advisors at 1.866.446.7001.

Terms & Conditions

Between October 15, 2021 and December 31, 2021 (the “Offer Period”) Qualifying Digital Loan Applicants* are eligible for a $500 Innovation Credit Union New Member Digital Loan Bonus (the “Offer”), provided the following terms and conditions are met:


*Qualifying Digital Loan Applicants must be a new customer to Innovation Credit Union, be 18 years of age or older, be a Saskatchewan resident, meet Innovation Credit Union’s membership and account opening approval criteria, meet Innovation Credit Union’s loan application approval criteria, and cannot have been an Innovation Credit Union member since January 2016.

Offer Conditions

As a Qualifying Digital Loan Applicant, you will be eligible to receive the $500 Offer, after meeting the following conditions:
  • (a) Successfully open an Innovation Credit Union No-Fee Bank Account (the “Account”) through the Digital Lending Application on Innovation Credit Union’s website;
  • (b) Deposit a minimum of $5.00 into your Account to pay for the cost of the membership share fee;
  • (c) Successfully apply for and activate a personal loan (the “Loan”) through the Digital Lending Application on Innovation Credit Union’s website;
  • (d) Activate the Loan within 90 days of approval, and;
  • (e) Within 120 days of activating your Loan, make 3 reoccurring scheduled payments to the loan from your Innovation Credit Union Account.
*An Eligible Reoccurring Scheduled Payment is generally defined as an automatic recurring loan payment, including payment of principal and interest amounts, paid at least monthly, toward the outstanding amount owing on the Loan.

Additional Information

After the Offer Conditions have been met, the $500 Offer will be deposited into the Qualifying Digital Loan Applicants’ Innovation Credit Union No-Fee Bank Account, in the fifth month following the month the Loan was activated. For example: If a Qualifying Digital Loan Applicant activates the Loan in October 2021, and meets the Offer Conditions by January 2022, the $500 payment will be deposited by February 28, 2022. The Qualifying Digital Loan Applicant’s No-Fee Bank Account must also be active and in good standing (not in an unauthorized overdraft or in a delinquent status) at that time of the Offer payment.

The Qualifying Digital Loan Applicant 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 Credit Union’s Account Information and Disclosure of Standard Fees and Charges brochure.

Offer is non-transferable and is not valid in conjunction with any other Offer. Limit of one Offer per Qualifying Digital Loan Applicant, including for joint Account Holders or Loan Applicants. The recipient(s) of the Offer is solely responsible for any tax consequences associated with their receipt thereof.

Innovation Credit Union employees and immediate family members of employees, are not eligible for the Offer.

Innovation 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 customer who appears to be manipulating or abusing the Offer, or appears to be engaged in any suspicious/fraudulent activity.