Doing the right thing

Responsible Banking not only means better financial services.
It means helping you and your community.

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Why bank with Innovation?

At Innovation Credit Union, we’re passionate about doing the right thing. It’s why we’ve embraced Responsible Banking, which is the guiding principle behind our financial institution. It influences how we operate on an everyday basis.

What is Responsible Banking?

In a nutshell, it means we use our profits to make life better for you, our communities, and our world. As our members, you are our priority. It’s our responsibility to return our profits back to you and the community.

 In keeping with these values, our Responsible Banking platform offers you a Member Rewards program, whereby you can save, earn, and give:


Save as much as $360/year in bank fees with our No-Fee Bank Account. There are no monthly fees and no minimum balance requirement. Even Interac e-Transfers are unlimited.
Bank free today!

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You earn cash simply by doing your everyday banking with us. The more you bank with us, the more you benefit! We’ve shared over $33.7 million in profits with our members.
Join us!

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Your business helps us support your community in the form of scholarships, sponsorships, and grants. We have donated over $6 million to our communities over the last decade thanks to you!
Now that’s Responsible Banking!

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Responsible Banking inspires us to embrace innovation, create change, and foster growth every day. We’re constantly looking for ways to evolve so that we can continue to be the valuable, profitable, and meaningful financial partner that you deserve. 

As our CEO Daniel Johnson says, “We’re determined not to create an environment where tomorrow is just another version of yesterday for our members.” 

See our self-assessment as to how we’re incorporating the Principles of Responsible Banking into our daily lives at Innovation (PDF download).

Innovation Credit Union is one of the Founding Signatories of the Principles of Responsible Banking, joining a coalition of 130 banks worldwide. It’s the most significant partnership to date between the global banking industry and the UN.

“The UN Principles for Responsible Banking are a guide for the global banking industry to respond to, drive and benefit from a sustainable development economy. The Principles create the accountability that can realize the responsibility and the ambition that can drive action,” said UN Secretary-General Antonio Guterres at the launch event on September 22, 2019.

As expressed in the Principles for Responsible Banking, Innovation is convinced that “only in an inclusive society founded on human dignity, equality and the sustainable use of natural resources can our members thrive”.

By signing up to the Principles, Innovation commits to “using our products, services, and relationships to support and accelerate the fundamental changes in our economies and lifestyles necessary to achieve shared prosperity for both current and future generations”.

“Responsible Banking is core to our Purpose,” says Innovation CEO Dan Johnson. “We are committed to doing the right thing with our profits for our members and communities to ensure social change. The principles for Responsible Banking under the UNEP Finance Initiative are principles Innovation Credit Union not only believes in but works toward achieving daily.”

The Principles for Responsible Banking will provide Innovation with an effective framework to systematically identify and seize new business opportunities created by the emerging sustainable development economy, while at the same time enabling the credit union to effectively identify and address related risks.

Click here to view a video of our CEO, Dan Johnson, speaking to the Principles.


Founding Signatory of UNEP Finance Initiative

At Innovation Credit Union, we help you simplify your life and reach your financial goals by reinvesting profits into our members, communities, and people. Now that’s Responsible Banking!

At every step, we ensure you can Save, Earn and Give! Here’s a look at how we do it.


Our No-Fee Bank Account saves you as much as $360 in bank fees per year! While most banks charge close to $30 a month, we give you access to your money anytime, anywhere with zero fees and no strings attached! 

Why you shouldn’t have to pay fees

*Newsflash* Bank fees are one of the main reasons that many of Canada’s national banks enjoy record profits year after year. These fees are on the rise and have become an increasingly lucrative part of multi-billion-dollar revenues for Canadian financial institutions (FIs). Even their no-fee accounts come at a cost to customers, with fine print restrictions like minimum monthly balance requirements or limited transactions. While most of these institutions argue that fee increases are simply the cost of doing business, we choose to take a different approach.

Our profits become your savings

Committed to Responsible Banking, we launched our No-Fee Bank Account as a way to return a portion of our profits every day to you. We automatically switched 23,000 Innovation members to this account at its launch without them having to ask for it. Why? Because your financial needs are our highest priority. In effect, this account saves our members over $4.08 million every year! 

So, what are you waiting for? If you’re tired of paying bank fees to access your money, it’s time to make the switch.


The moment you join Innovation, you receive a Member Rewards account. You earn cash rewards simply by doing your everyday banking with us! The more you bank with us, the more cash you’ll get. It’s one of the most meaningful and beneficial loyalty program you’ll ever sign up for. 


Why choose us over a regular bank

As a credit union, we share our profits with you. In fact, over the past 14 years, our members have shared approximately $33.7 million in profits simply by being an Innovation member. That’s because members are the owners of a credit union, unlike banks where customers are just that—customers. We answer to our members and allow them to vote and have a say in how we operate. Banks, on the other hand, respond to their shareholders, who keep the profits for themselves. To sum it up, we reward you for your business and loyalty!

Member Rewards

We know what you’re thinking, and you’re right. We aren’t the only credit union to offer loyalty rewards to our members, but our Member Rewards program is undoubtedly one of Canada’s best. 

Our Board of Directors declares Member Rewards distributions every quarter. These include:

  • Payments based on the interest you pay on loans as well as on the interest you earn on investments.
  • Youth dividends if you are 18 years and under.
  • Cash dividends at an attractive rate.

It’s simple, really. The more you bank with us, the higher the reward.  


We allocate between 2% and 4% of pre-tax profits every year to the communities we serve and have donated over $6 million to our communities over the last decade.

As part of our commitment to give back to the community, we tailor products and services to meet the financial needs of the people we serve. We work diligently towards creating jobs, volunteering, championing young leaders, and providing meaningful access to financial services. 

How we give back

The staff at Innovation lend their time and talents to charities and organizations that they hold close to their hearts. You’ll see us at hockey arenas, curling rinks, softball fields, community events, and local soup kitchens, pitching in with enthusiasm. In 2019, Innovation staff donated over 12,899 hours to local charities.

Summer Student Program

Last but not least, we help foster the next generation of professionals. Our Summer Student Program is designed to empower young people in our communities to explore a career in the financial services industry. This initiative is backed by a commitment to hiring exemplary students from the program. We invest in an average of 12 students each year, allowing them to gain experience in all organizational areas, from front-line to support roles. We also provide them with opportunities to contribute to meaningful projects. These students become part of the Innovation family, studying and adopting the credit union’s values and culture while observing the challenges that come with striving to be a financial provider of choice. Innovation truly cares for the leaders of tomorrow, offering them a place to learn and grow in a professional setting.

When you join Innovation, you become a part of an institution that gives back to the community!