Member Institution Mergers

When CDIC members merge, savings stay covered by CDIC.

Your existing deposit insurance coverage does not change when one CDIC member buys another, or when two or more members join together to become one. Any money that you had deposited is still insured at the new member institution. But it is important to find out how depositing or withdrawing money from the new member will affect your CDIC coverage.

If your bank or other financial institution is a member of CDIC and merges with another member, contact us or talk to your banker.