FAILED INSTITUTION NAME
The Canada Deposit Insurance Corporation (CDIC) is a federal Crown corporation created by Parliament in 1967 to protect your deposits made with member financial institutions in case of their failure. CDIC is NOT a bank. CDIC is NOT a private insurance company.
CDIC helps keep Canada’s financial system strong. We work for Canadians—by insuring their savings in case a CDIC member institution fails.
It’s important to know...
Banks and other financial institutions in Canada can fail. It does not happen often, but it has happened and it could happen again. If your financial institution is a CDIC member and it fails and your savings are eligible for CDIC coverage, you will get up to $100,000 of your savings back. If your savings are NOT covered, you might lose them.
It’s easy to find out...Find out if YOUR savings are insured by CDIC.
CDIC is a Federal Crown corporation that contributes to the stability of the Canadian financial system. Protecting Canadians’ savings is our job. CDIC automatically insures many types of savings against the failure of a bank or financial institution that is a CDIC member. However, NOT all savings are insured and CDIC deposit insurance does not protect against fraud, theft or scam.
This web site will help you better understand which savings are insured and help you decide where to keep your savings.
Please Note: This web site 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.
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