Insurance Coverage

Insurance coverage on your insurable deposits have increased. 

As an Ontario Credit Union, we are regulated by The Deposit Insurance Corporation of Ontario (DICO). DICO also insures your deposits in Ontario credit unions. Up until now, your insurable deposits have been automatically covered up to $100,000, and all your insurable deposits in regsitered plans have been fully insured. As of January 1st, 2018, all deposits held in non-registered accounts in Canadian currency payable in Canada are covered up to $250,000. Insurable deposits held in registered accounts continue to be fully insured.

What is covered under the $250,000 and is considered an insurable deposit:
- Savings and chequing accounts
- Term deposits
- Money Orders
- Funds in transit
- Index-linked deposits (principal portion only)

What has unlimited coverage: 
- Registered savings plans like RRSPs, RRIFs and RESPs
- Tax Free Savings Accounts

Separate covered is provided for insurable deposits held in: 
- Joint Accounts
- Trust Accounts

For further information on deposit insurance, please ask for a brochure at the credit union or visit DICO's website at www.dico.com

Email, Print, send to Twitter, send to Facebook, and more