CDIC coverage for depositors of ABCU Credit Union

OTTAWA – April 1, 2026 – The Canada Deposits Insurance Corporation (CDIC) advises depositors of ABCU Credit Union that, as a result of its merger with Innovation Federal Credit Union and entry into the federal deposit insurance framework, eligible deposits are now protected by CDIC.

As provincial deposit insurance for ABCU Credit Union has ended, CDIC now provides transitional coverage for a period of 180 days. During this time, your eligible deposits made before April 1, 2026, will continue to receive the same coverage that was offered by Alberta’s Credit Union Deposit Guarantee Corporation. For term deposits, such as Guaranteed Investment Certificates (GICs), it will extend until the deposit reaches maturity or is cashed out. For demand deposits, such as chequing and savings accounts, the coverage remains in effect for the duration of the transition period. Transitional CDIC coverage does not apply to Innovation Federal Credit Union members.

At the end of the transition, all eligible deposits made at ABCU (now at Innovation Federal Credit Union), as well as any new deposits made on or after April 1, 2026, will receive CDIC’s protection of up to $100,000 for each deposit category.

Innovation Federal Credit Union is based in Saskatchewan with approximately 500 employees and more than $5.24 billion in administered assets. They serve 72,000+ members digitally and across 28 advice centre locations including both Regina and Saskatoon.