Each of Canada’s 10 provinces has a provincial deposit insurer that protects provincial credit unions; these are listed below.
Federal deposit insurance protection is the same for all CDIC member institutions across Canada, with the exception of deposits held by CDIC members in the province of Québec. Québec has a deposit insurance plan of its own under the administration of l’Autorité des marchés financiers (AMF).
Some financial institutions are members of both CDIC and of the AMF plan. In that case, under an agreement between the two insurers:
- deposits made in Québec with provincially incorporated CDIC members are insured by AMF;
- deposits made outside Québec with such AMF members are insured by CDIC.
The maximum aggregate repayment from both agencies would not exceed $100,000 per depositor, per insured category, per institution.
Deposit insurance in Canada’s provinces