Money that you deposit in your financial institution
may be covered by deposit insurance. The Canada
Deposit Insurance Corporation, a federal Crown corporation,
covers eligible deposits in member banks and trust/loan
companies up to a maximum amount. Credit unions
and caisses populaires are provincially regulated,
so deposits in these institutions are covered under
provincial deposit insurance schemes (which vary
by province). We've included a range of resources
below to help you learn more.
Canada Deposit Insurance Corporation (CDIC)
The CDIC is a federal Crown corporation created
in 1967 to protect the money you deposit in member
financial institutions in case of their failure.
Visit www.cdic.ca
or call 1-800-461-2342.
CompCorp
CompCorp provides Canadian life insurance policyholders with specified levels of protection against loss of benefits due to the financial failure of a Member Company.
Property and Casualty Insurance Compensation Corporation
The private companies which insure the homes, cars and other property of Canadians work together to compensate clients in the unlikely event of an insurer's collapse.
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