Who CDIC Works For
CDIC’s work is all done for the benefit of the Canadian public.

When we started in 1967, we only insured savings held in one name up to $20,000. Now, many types of savings are covered by CDIC against the failure of a bank. See What’s Covered, What’s Not Covered. Also, we now insure up to $100,000 in savings. See How Does CDIC Calculates Insurance?

Our relationship with CDIC members
We monitor the “health” of the banks, trust companies, loan companies and associations governed by the Cooperative Credit Associations Act that are CDIC members. We work closely with the Office of the Superintendent of Financial Institutions (OSFI), at the first sign of a problem in a member institution. CDIC members pay us premiums.