Consultation Paper on a Proposed Capital Adequacy Framework

The Ontario Ministry of Finance is seeking feedback from interested parties on its “Consultation Paper on a Proposed Capital Adequacy Framework”.

The deadline for written submissions is February 28, 2018.

This consultation paper sets out a detailed proposal for implementing the recommendation contained in the November 2015 report on the review of the Credit Unions and Caisses Populaires Act, 1994 to adopt updated capital adequacy requirements for Ontario credit unions based on Basel III principles, with appropriate adjustments to reflect the capital structure of credit unions.

For further details, please click here.

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.

  • Your deposits are automatically insured up to the $250,000 limit (unlimited for deposits in registered plans);
  • You don’t have to pay for deposit insurance. Premiums are paid to DICO by credit unions and caisses populaires;
  • We insure most—but not all—types of deposits. See What’s Covered, What’s Not Covered;
  • We insure deposits placed in all credit unions in Ontario. See the list of active Ontario credit unions.

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 $250,000. If your deposits are not covered by deposit insurance there is a risk that you may lose them.

  • We only insure deposits at Ontario credit unions;
  • We only insure certain types of deposits.

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

The Deposit Insurance Corporation of Ontario is committed to providing visitors with a web site that respects their privacy. DICO's privacy policy and practices on its website are summarized below.

  • DICO's website does not automatically gather any specific personal information from you, such as your name, phone number or e-mail address. Such personal information is only collected by DICO as part of the regulatory requirement of an institution to file both financial and non-financial data through its secure site.
  • DICO employs software programs to monitor network traffic to identify unauthorized attempts to upload or change information, or otherwise cause damage. This software receives and records the Internet Protocol (IP) address of the computer that has contacted our website, the date and time of the visit and the pages visited. We make no attempt to link these addresses with the identity of individuals visiting our site unless an attempt to damage the site has been detected.
  • DICO does not normally use "cookies" to track how our visitors use this site or to determine sites previously visited. The system will notify you before any cookies are used so that you may refuse them. (A "cookie" is a file that may be placed on your hard drive without your knowledge by a website to allow it to monitor your use of the site.)
  • Information on individual visitors is used by DICO employees who need to know the information in order to respond to your request or to ensure the security of this system. We do not use the information to create individual profiles, nor do we disclose this information to anyone.

This website is designed to give general information about deposit insurance and should not be relied on as definitive. Actual DICO deposit insurance coverage is based on the records of the insured institution and is governed by the Credit Unions and Caisses Populaires, Act 1994. The purpose of this information is to provide a non-technical explanation of DICO, its role and the insurance coverage provided by DICO. DICO has made every effort to ensure that the information posted on this website is accurate. This website is not intended to provide a legal interpretation of the Credit Unions and Caisses Populaires Act or DICO’s By-laws and Policy of Insurance.