The Ontario Government has proposed changes to deposit insurance limits
The Ontario government has proposed an increase in the deposit insurance limit for eligible non-registered deposits to $250,000 and a reduction in the limit for eligible registered deposits to $250,000, from an unlimited amount for each type of registered account. The government is currently reviewing input received from its consultation process and will make announcements about its decision in due course.
Please monitor this website for further information.
DICO - Who We Are and What We Do
The Deposit Insurance Corporation of Ontario (DICO) is an Ontario Provincial Agency established under the Credit Unions and Caisses Populaires Act, 1994 . DICO’s role is to protect depositors of Ontario credit unions and caisses populaires from loss of their deposits. Deposit insurance is part of a comprehensive depositor protection program for all Ontario credit unions which is backed by provincial legislation.
DICO helps keep Ontario’s credit unions safe and sound by providing deposit insurance and regulating their activities.
Are Your Deposits Insured?
Credit unions can go out of business. It does not happen often, but it has and can happen. If your credit union goes out of business your insured deposits are protected up to $100,000. If your deposits are not covered by deposit insurance there is a risk that you may lose them.
Protecting depositors is part of our job. DICO automatically insures many types of deposits but, there are some deposits that we do NOT insure. For further details of deposit insurance coverage please refer to the brochure which provides an overview of typical insurance coverage.
Use this website to see if YOUR deposits are covered
Please note: For brevity, Credit Unions and Caisses Populaires will be referred to in English as “credit unions” and in French as “caisses populaires”