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GOVERNMENT GUARANTEESCDIC information The Canada Deposit Insurance Corporation (CDIC) is a federal Crown corporation created in 1967 to protect the money you deposit for eligible deposits in member financial institutions in case of their failure. CDIC
insures eligible deposits you make with its members. By law, the maximum basic protection for eligible deposits is $100,000 per depositor (principal and interest combined) in each member institution. For further information please contact: Canada
Deposit Insurance Corporation Toll Free: 1-800-461-CDIC Website: www.cdic.ca
COMPCORP information CompCorp protects policyholders of member insurers with life insurance, health insurance, disability income, money-accumulation or annuity policies that promise to pay either a fixed or at least a minimum amount of money to a person, or on a person’s death. Policyholders are protected for as long as the policy remains in force. The limits: • $200,000 of life insurance protection • $60,000 in cash withdrawals for policies registered under the Income Tax Act such as RRSPs, RRIFs, Life Income Funds and pension policies •
$60,000 in cash withdrawal for non-registered policies
For further information please contact: CompCorp Tel:
(416) 359-2001
ALBERTA: The Credit Union Deposit Guarantee Corporation (CUDGC) guarantees the repayment of all deposits with Alberta credit unions, including accrued interest. Additionally, the Credit Union Act provides that the government of Alberta will ensure that this obligation is carried out. For further information please contact: Credit
Union Deposit Guarantee Tel:
(403) 428-6680 Website: www.cudgc.ab.ca
BRITISH COLUMBIA: All credit unions in the province have member deposit insurance coverage with the Credit Union Deposit Insurance Corporation (CUDIC) of British Columbia. Money deposited with a BC credit union is guaranteed by CUDIC up to a maximum of $100,000 “per separate deposit” as defined by regulation. For further information please contact: Financial
Institution Commission Tel:
( 604) 660-2947 Website: www.fic.gov.bc.ca MANITOBA: The Credit Union Deposit Guarantee Corporation (CUDGC) is the deposit insurer for Manitoba credit unions. As Established under The Credit Unions and Caisse Populaires Act, the Corporation is required by law to guarantee all deposits by credit union members, without limit. For further information please contact: Credit
Union Deposit Guarantee Corporation Tel:
(204) 942-8480 Website: www.cudgc.com
NEW BRUNSWICK: A maximum basic coverage of $60,000 for insured deposits (principal and interest combined); separate deposit coverage up to a maximum of $60,000 each for joint deposits, trust deposits and deposits held in registered retirement savings plans (RRSPs) and in registered retirement income funds (RRIFs) is provided by the Credit Union Stabilization Fund (CUSF). For further information please contact: Credit
Union Stabilization Fund Tel:
(506) 853-7474
NEWFOUNDLAND & LABRADOR: The Credit Union Deposit Guarantee Corporation (CUDGC) insures deposits up to $60,000 (principle plus interest) per type of account per member. There are five types of accounts, namely: demand, joint, RRSP, RRIF and trust accounts. For further information please contact: Credit
Union Deposit Guarantee Corporation Tel:
(709) 753-6405 NOVA SCOTIA: The Credit Union Deposit Insurance (CUDIC) insures deposits, including interest, to a maximum of $250,000 per individual and insures each separate RRSP or RRIF and each unique trust or joint account to a maximum of $250,000 per account. For further information please contact: Credit
Union Deposit Guarantee Corporation Tel:
(902) 422-4431 Website: www.nscudic.org
ONTARIO: Each depositor in any one credit union or caisse populaire is insured by the Deposit Insurance Corporation of Ontario (DICO) to a maximum of $100,000 for the combined, principle, interest, and dividends relating to that member’s total deposits. RRSP, RRIF and unique trust or joint accounts are separately insured up to $100,000 per contract or account. For further information please contact: Deposit
Insurance Corporation of Ontario Tel:
(416) 325-9444 Website: www.dico.com
PRINCE EDWARD ISLAND: All credit unions in the province are members of the Credit Union Deposit Insurance Corporation (CUDIC). CUDIC insures the total value of deposits held in registered retirement savings plans (RRSP) and registered retirement income funds (RRIF). In addition, each depositor with each credit union is insured to a maximum of $60,000 (priniple and interest); and separate insurance to a maximum of $60,000 for each unique trust or joint account. For further information please contact: Credit
Union Central of PEI Tel:
(902) 566-3350
QUEBEC: The Régie de l'assurance-dépôts du Québec (RADQ) is a body of the government of Québec created in 1967 to guarantee, on certain terms, that any person making one or more deposits in a registered institution will be reimbursed for that deposit or those deposits, up to $60,000 per person, per registered institution, particularly when that institution winds up. Institutions registered with the RADQ include savings and credit unions (e.g. the caisses populaires et d'économie Desjardins) and their federations, the Confédération des caisses populaires et d'économie Desjardins du Quebec, trust companies and savings companies. For further information please contact: Régie
De L'assurance-Dépôt du Québec Tel:
(418) 528-9728 Website: www.igif.gouv.qc.ca
SASKATCHEWAN: There are three levels of protection to ensure no member deposits are at risk. First, the credit union has a reserve fund for unforeseen contingencies. Secondly, credit unions are backed by Credit Union Deposit Gaurantee Corporation’s (CUDGC) unlimited guarantee. And, although it has never had to draw upon it, the corporation also has an agreement with the Canadian Deposit Insurance Corporation as a lender of last resort. For further information please contact: Credit
Union Deposit Guarantee Corporation Tel:
(306) 566-1292
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