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The Canada Deposit Insurance Corporation (CDIC) is a federal Crown Corporation. It was created in 1967 to provide deposit insurance and contribute to the stability of Canada's financial system. CDIC insures eligible deposits at member institutions (up to $100,000 per depositor) and reimburses depositors for the amount of their insured deposits when a member institution fails.
To be eligible for insurance, deposits must be in Canadian currency and payable in Canada. Term deposits must be repayable no later than five years from the date of deposit.
As a consumer, you do not have to apply for deposit insurance. Subject to coverage limits, eligible deposits held with a CDIC member institution are automatically insured.
To date, CDIC has provided protection to depositors in 43 member institution failures. As of April 30, 2005, CDIC insured $437 billion in eligible deposits in Canada.
Canada Deposit Insurance Corporation Selected as Deposit Insurance Organization of the Year for 2006.
Canada Deposit Insurance Corporation holds its first Annual Public Meeting
NOTICE OF CDIC'S FIRST ANNUAL PUBLIC MEETING
CDIC's Complimentary Continuing Education Course for Financial Advisors
Bridgewater Bank Becomes a New CDIC Member!
Canada Deposit Insurance Corporation Releases its 2006 Annual Report
2006 Annual Report (pdf)
Auditor General's Award to CDIC for 2005 Annual Reporting
Summary of the Corporate Plan 2006/2007 to 2010/2011 (PDF)
CDIC's 2005 Annual Report to Parliament - Positive Changes for Consumers, Member Institutions
Annual Report 2005: wins CDIC the 2005 Auditor General's Award for Excellence in Annual Reporting (pdf)
Answers to our Deposit Insurance 2005 Quiz
CDIC is pleased to be a part of the Your Money Network for young people
Last modified : 6 December 2006
To be eligible for insurance, deposits must be in Canadian currency and payable in Canada. Term deposits must be repayable no later than five years from the date of deposit.
As a consumer, you do not have to apply for deposit insurance. Subject to coverage limits, eligible deposits held with a CDIC member institution are automatically insured.
To date, CDIC has provided protection to depositors in 43 member institution failures. As of April 30, 2005, CDIC insured $437 billion in eligible deposits in Canada.
| The level of deposit insurance coverage provided by CDIC is set in legislation as passed by the Canadian Parliament. The 2005 Federal Budget announced an increase in coverage from $60,000 to $100,000. This change is now law. The amount of deposit insurance coverage insured per depositor in each CDIC member institution is $100,000. As announced in the Budget 2005, this initiative is retroactive to February 23, 2005. |
Canada Deposit Insurance Corporation Selected as Deposit Insurance Organization of the Year for 2006.
Canada Deposit Insurance Corporation holds its first Annual Public Meeting
NOTICE OF CDIC'S FIRST ANNUAL PUBLIC MEETING
CDIC's Complimentary Continuing Education Course for Financial Advisors
Bridgewater Bank Becomes a New CDIC Member!
Canada Deposit Insurance Corporation Releases its 2006 Annual Report
2006 Annual Report (pdf)
Auditor General's Award to CDIC for 2005 Annual Reporting
Summary of the Corporate Plan 2006/2007 to 2010/2011 (PDF)
CDIC's 2005 Annual Report to Parliament - Positive Changes for Consumers, Member Institutions
Annual Report 2005: wins CDIC the 2005 Auditor General's Award for Excellence in Annual Reporting (pdf)
Answers to our Deposit Insurance 2005 Quiz
CDIC is pleased to be a part of the Your Money Network for young people
Last modified : 6 December 2006
