About Innovation Federal CU
Innovation Federal Credit Union is a member-owned credit union formed on January 1, 2007 through the merger of Southwest Credit Union and BCU Financial in Saskatchewan. On June 23, 2023 it became Canada's third federal credit union (the first headquartered in Saskatchewan), continued under the Bank Act and regulated by OSFI with CDIC deposit insurance. On April 1, 2026 it amalgamated with ABCU Credit Union of Alberta in Canada's first interprovincial credit union merger.
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Access: Membership required · Open common bond
Eligible provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland & Labrador, Nova Scotia, Northwest Territories, Nunavut, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon
How to join: Open an account online or at a branch and purchase a nominal membership share.
Deposit protection: Canada Deposit Insurance Corporation
$100,000 per insured category per member institution
Current top rates
rates confirmed as of 2026-10-11| GIC ladder | Best rate |
|---|---|
| 1-year GIC | 3.15% |
| 2-year GIC | 3.20% |
| 3-year GIC | 3.25% |
| 4-year GIC | 3.30% |
| 5-year GIC | 3.40% |
Base ladder rates. Institution may have more term rates below.
GIC rate history
Best historical posted GIC rate by term
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Term deposit rates
— not stated on siterates confirmed as of 2026-10-11Filter rates
| Term | Registration | Redeemable | Compounding | Interest paid | Min–Max deposit | Rate |
|---|---|---|---|---|---|---|
| Long-term — 1 year + | ||||||
| 1 year | Non-regRRSPRESPRRIFTFSA | N | — | At maturity | $1k+ | 3.15% |
| 1 year | Non-regRRSPRRIFTFSA | Y | — | At maturity | $1k+ | 2.00% |
| 2 years | Non-regRRSPRESPRRIFTFSA | N | — | At maturity | $1k+ | 3.20% |
| 3 years | Non-regRRSPRESPRRIFTFSA | N | — | At maturity | $1k+ | 3.25% |
| 4 years | Non-regRRSPRESPRRIFTFSA | N | — | At maturity | $1k+ | 3.30% |
| 5 years | Non-regRRSPRESPRRIFTFSA | N | — | At maturity | $1k+ | 3.40% |
| Non-Redeemable ConvertibleConvertible · paid at maturity · $1k minimum | ||||||
| 3 years | Non-regRRSPTFSA | Y | — | At maturity | $1k+ | 3.15% |
| Non-Redeemable Easy StartNon-redeemable · paid at maturity · $1k minimum | ||||||
| 1 year | Non-regRRSPTFSA | N | — | At maturity | $1k+ | 3.05% |
No rates match these filters.
Escalator GICs
rates confirmed as of 2026-10-11The rate rises each year of the term. Yield is the effective annual yield the institution prints.
| Product | Yr 1 | Yr 2 | Yr 3 | Yr 4 | Yr 5 | Yield |
|---|---|---|---|---|---|---|
| 5-year escalators | ||||||
| Non-Redeemable Laddering GIC5 years · min $1kNon-regRRSPRRIFTFSA | 3.15% | 3.20% | 3.25% | 3.30% | 3.40% | 3.26% |
Savings & chequing rates
rates confirmed as of 2026-10-11Filter rates
| Type | Product | Calculated | Paid | Min. balance | Rate |
|---|---|---|---|---|---|
| Savings | |||||
| Savings | First Home Savings Account | — | — | $0 | 4.25% |
| Savings | Savings Account | — | — | $0 | 0.60% |
| Savings | Savings Account | — | — | $5,000 | 0.60% |
| Savings | Savings Account | — | — | $100,000 | 0.60% |
| Savings | Savings Account | — | — | $200,000 | 0.60% |
| USD | No-Fee USD AccountUS$ | — | — | $0 | 0.10% |
| USD | No-Fee USD AccountUS$ | — | — | $5,000 | 0.10% |
| USD | No-Fee USD AccountUS$ | — | — | $100,000 | 0.10% |
| USD | No-Fee USD AccountUS$ | — | — | $200,000 | 0.10% |
| RRSP | |||||
| RRSP | Investment Savings Account | — | — | $0 | 0.60% |
| RRSP | Investment Savings Account | — | — | $5,000 | 0.60% |
| RRSP | Investment Savings Account | — | — | $100,000 | 0.60% |
| RRSP | Investment Savings Account | — | — | $200,000 | 0.60% |
| RESP | |||||
| RESP | RESP | — | — | $0 | 0.60% |
| RRIF | |||||
| RRIF | Investment Savings Account | — | — | $0 | 0.60% |
| RRIF | Investment Savings Account | — | — | $5,000 | 0.60% |
| RRIF | Investment Savings Account | — | — | $100,000 | 0.60% |
| RRIF | Investment Savings Account | — | — | $200,000 | 0.60% |
| TFSA | |||||
| TFSA | Investment Savings Account | — | — | $0 | 0.60% |
| TFSA | Investment Savings Account | — | — | $5,000 | 0.60% |
| TFSA | Investment Savings Account | — | — | $100,000 | 0.60% |
| TFSA | Investment Savings Account | — | — | $200,000 | 0.60% |
No rates match these filters.
Mortgage rates
Highlighted rows are promo ratesrates confirmed as of 2026-10-11Filter rates
| Term | Type | Open / closed | Insured | Posted rate |
|---|---|---|---|---|
| 1-year | Fixed | Open | No | 6.99% |
| 6-month | Fixed | Closed | No | 6.04% |
| 6-month | Fixed | Closed | No | 6.14% |
| 1-year | Fixed | Closed | No | 4.89% |
| 1-year | Fixed | Closed | No | 5.50% |
| 2-year | Fixed | Closed | No | 4.79% |
| 2-year | Fixed | Closed | No | 5.80% |
| 3-year | Fixed | Closed | No | 4.69% |
| 3-year | Fixed | Closed | No | 6.05% |
| 4-year | Fixed | Closed | No | 4.69% |
| 4-year | Fixed | Closed | No | 6.05% |
| 5-year | Fixed | Closed | No | 4.79% |
| 5-year | Fixed | Closed | No | 6.10% |
| 7-year | Fixed | Closed | No | 5.29% |
| 7-year | Fixed | Closed | No | 6.50% |
| 10-year | Fixed | Closed | No | 5.49% |
| 10-year | Fixed | Closed | No | 6.80% |
| 5-year | Variable | Open | No | 7.75% |
| 5-year | Variable | Closed | No | 4.35% |
| 5-year | Variable | Closed | No | 5.70% |
No mortgage rates match these filters.
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