Where Are My Savings Insured by CDIC?
To be insured by CDIC, your savings must be at a CDIC member.
Who is a member?
Most Canadian chartered banks are CDIC members. So are Canadian loan companies and trust companies
that take deposits, as well as associations governed by the Cooperative Credit Associations
Act that take deposits.
Who is NOT a member?
Some financial institutions that take deposits are NOT members of CDIC—for example, credit unions and
caisses populaires, Canadian branches of foreign banks and some Canadian chartered banks. Your deposits with
credit unions and caisses populaires may be covered by provincial deposit insurance programs. Canadian
branches of foreign banks, and those Canadian chartered banks that are not CDIC members are required by law
to inform you that they are not CDIC members and that your savings at such banks are not insured.
Current CDIC members
Here is the current list of CDIC
members
Sometimes this list changes—for example, when one bank merges with another. We keep it up to date.
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The ABCs of Deposit Insurance |
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| Up to $100,000 of your savings are insured by CDIC as soon as you
deposit them in an eligible account. Your savings must be: |
| A |
Accounts that are eligible—for example, savings,
chequing and GICs of 5 years or less. |
| + |
Held at… |
| B |
Banks and other financial institutions—insured deposits must be
held at a CDIC member. |
| + |
And held in... |
| C |
Canadian dollars—U.S. dollar and other foreign currency deposits
are not eligible. |
| A + B + C = insured deposits |
| Find out more about what’s covered and what’s not. |
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Please Note:This website is designed to give general information
about deposit insurance and should not be relied upon as definitive. The actual deposit insurance coverage
provided by CDIC following the failure of a member institution is based on the deposit account records at the
failed member institution and is governed by the Canada Deposit Insurance
Corporation Act.
