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Deposit Insurance

 Ontario
The Financial Services Regulatory Authority of Ontario (FSRAO) is a Provincial Agency providing deposit insurance protection for the members of Ontario Credit Unions and Caisses populaires. For more information, visit www.fsrao.ca.

FSRAO’s insured institutions pay premiums to FSRAO to cover the cost of insuring your deposits. In the event that a credit union is unable to repay all of its deposits, FSRAO pays these up to the maximum prescribed limit of $250,000 for deposits held in each of the separate categories of FSRAO deposit insurance coverage.

Deposit insurance covers eligible deposits up to the prescribed statutory limit of $250,000. FSRAO automatically insures savings and chequing accounts, term deposits (GICs), money orders, certified cheques and registered accounts.

British Columbia
The Credit Union Deposit Insurance Corporation (CUDIC), a statutory corporation, guarantees all deposits and non-equity shares of British Columbia credit unions as set out in the Financial Institutions Act.

CUDIC’s responsibility is to administer and operate a deposit insurance fund. The Financial Institutions Commission (FICOM), an agency of the Government of British Columbia, is responsible for administering CUDIC and for administering the regulation of financial institutions operating in the province. For more information, visit www.cudicbc.ca.

All money on deposit and money invested in non-equity shares with a BC credit union is 100% guaranteed, including foreign currencies and accrued interest, regardless of the length of the term to maturity.

Alberta
The Credit Union Deposit Guarantee Corporation monitors and regulates the performance of credit unions in Alberta and the compliance of Alberta credit unions with the Credit Union Act. The primary role of the Corporation is to guarantee deposit protection to deposit holders with credit unions in Alberta. For more information, visit www.cudgc.ab.ca.

The Credit Union Deposit Guarantee Corporation provides a 100% guarantee of all deposits with Alberta credit unions. This protection includes accrued interest to the date of payout. The Government of Alberta ensures that the Credit Union Deposit Guarantee Corporation’s obligation to depositors will be carried out