Every credit union member in Ontario is covered by deposit insurance through the Deposit Insurance Corporation of Ontario (DICO). DICO is a corporation established by the Credit Unions and Caisses Populaires Act specifically to provide deposit insurance for credit union members against loss of part or all of their deposits.

Deposits held in registered savings plans are separately insured from the deposits held in other accounts. All deposits made to registered savings plans are fully insured with no limit on the maximum amount. Registered savings plans include RRSP, RRIF, RESP, and TFSA.

Member deposits are insured to a maximum of:

  • $250,000 for the combined total of all non-registered deposits (principal and interest combined) per member in each credit union.
  • 100% for deposits in registered savings plans (e.g., RRSP, RRIF, TFSA and RESP)

For further information on deposit insurance, please ask for a brochure at the credit union or call DICO at 1-800-268-6653 or log on to the website at www.dico.com.


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