Making your home work for you

Easily available, highly flexible, low
interest loan for you

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Flexible access to cash
Low Interest Rate
High credit limit
Easily available

What’s a HELOC?

A home equity line of credit, also known as HELOC, is a line of credit secured by the equity in your home. It’s an excellent resource for getting that new car you’ve been eyeing or starting on the renovation project you’ve been dreaming about. Enjoy the things that matter to you with the equity that your home has generated.
Use it anytime and on anything. Enjoy a lower interest rate than that of a regular loan or credit card. Psst, the interest is also tax deductible on that home renovation we spoke about.

Want to know how good it gets?This comparison should help you gain some perspective.

Home equity line of credit

Flexible access to cash

Secured by your home

Low interest rate

Tax deductible on home renos

Has a time period or duration

Line of credit

Flexible access to cash


Medium interest rate

Not tax deductible


Credit card

Flexible access to cash


High interest rate

Not tax deductible




Available when you need it

No need to repeatedly apply for loans. This home equity line of credit supplies cash when you need it.



Low interest rate 

At an interest rate lower than a credit card or a general loan, the sky’s the limit. Since the HELOC is drawn from the equity on your house, you can borrow at a lower interest rate.



Deduct tax for home improvement projects

Don’t hold back anymore on the home reno that you’ve been planning. The HELOC is the perfect tool available at your disposal for making those large upgrades happen.



If yoga was a type of credit, it’d be a HELOC

As flexible as it gets. Draw whatever you need, whenever you need it and pay interest only on what you’ve borrowed.


Additional Benefits

    • You’ll earn Member Rewards simply by doing everyday banking with us. That includes quarterly cash payouts.
    • Because a HELOC offers such a low interest rate, it’s perfect for paying off high interest debt.

How to apply for a Home Equity Line of Credit

Call us

Call us at 1.866.446.7001 to set up a HELOC. We’d be happy to help you.

Eligibility to apply for a Home Equity LOC?

Proof of age

You must be 18+ years of age to open an account

Proof of residence

You need to be a Canadian resident (Not including Quebec)

Is HELOC for me?

You’re in the middle of a home reno and some large expenses have suddenly creeped up on you. You’re now wondering how great it would be if your house helped pay for its own reno. Well then, HELOC might be the exact thing you’re looking for! 

 A Home Equity Line of Credit might be right for you if…

● You want to use your house equity to borrow money for a renovation

● You want to borrow at an interest rate lower than that of a credit card

● You need quick access to funds to pay for some large expenses in a short period of time

Join the 57,000+ Canadians who love banking with us

The service I received when getting my mortgage was exceptional.
I was able to complete the entire process over the phone and by email from Regina.

Regina, SK

Innovation Credit Union was great to work with when getting our mortgage. Living in rural Saskatchewan wasn’t a problem. Everything was done by phone and email!

Bayleigh Napper
Liebethal, Saskatchewan

More reasons to bank with us!


Our No-Fee Bank Account has no monthly fees and no minimum balance requirement. So you can save as much as $360/year in bank fees.


You earn cash dividends simply by doing your everyday banking with us. The more you bank with us, the more you benefit. 


Your business helps us support your community in the form of scholarships, sponsorships and grants. We allocate 2% to 4% of pre-tax profits every year to our communities.