News releases

CDIC welcomes new member

News releases

OTTAWA  February 11th, 2019  The Canada Deposit Insurance Corporation (CDIC) welcomes Motus Bank to its membership. Headquartered in Ontario, Motus Bank is a wholly owned subsidiary of Meridian Credit Union.

For more than 50 years, CDIC has protected Canadians’ deposits and promoted financial stability. Eligible deposits at Motus Bank will now be protected up to $100,000 per deposit category.

CDIC is a federal Crown corporation established in 1967 to protect the savings of Canadians, and we contribute to financial stability by safeguarding over $792 billion in deposits in all our member institutions. As resolution authority, we are responsible for handling the failure of any of our members, from the smallest to the largest.

CDIC is funded by premiums paid by member institutions and does not receive public funds to operate. We have dealt with 43 member failures affecting some two million Canadians. No one has lost a dollar of deposits under CDIC protection.

Look for this logo to identify a CDIC member institution:

CDIC logo

For more information about CDIC please go to

For more information about CDIC’s newest member, please visit

Further information:

Brad Evenson
Director, Communications and Public Affairs
Tel: 613.943.4395

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