Ottawa - February 1, 2017 - The Canada Deposit Insurance Corporation (CDIC) welcomed Street Capital Bank of Canada to its membership today. Street Capital Bank is headquartered in Toronto, Ontario, and brings CDIC’s total membership to 81 financial institutions.
For the past 50 years, CDIC has protected Canadians’ deposits and promoted financial stability. Eligible deposits at Street Capital Bank will now be protected up to $100,000 per deposit category.
To calculate the amount of deposit protection available at their CDIC member institutions, Canadians can use the Deposit Insurance Estimator.
CDIC is a federal Crown corporation that contributes to the stability of the Canadian financial system by providing deposit insurance against the loss of eligible deposits at member institutions in the event of failure. CDIC protects nearly $700 billion of savings held by its member institutions which include banks, federally regulated credit unions as well as loan and trust companies and associations governed by the Cooperative Credit Associations Act that take deposits. CDIC is funded by premiums paid by member institutions and does not receive public funds to operate.
For more information about Street Capital Bank of Canada, please visit www.streetcapital.ca.
Director, Communications and Public Affairs