Who Pays for Deposit Insurance

Depositors do not pay DICO for deposit insurance. Each Ontario credit union pays insurance premiums to DICO for this coverage.

Deposit insurance is different from many types of insurance. DICO's insured institutions pay premiums to DICO to cover the cost of insuring your deposits. In the event that a credit union is unable to repay all of its deposits, DICO pays these up to the maximum prescribed limit of $100,000 for deposits held in each of the separate categories of DICO deposit insurance coverage.

See What's Covered, What's Not Covered to learn if your deposits are protected by DICO.

All credit unions in Ontario are insured by DICO. See the current list of insured institutions.