Deposits Held in Trust


DICO insures eligible Canadian deposits in trust accounts. For example, a parent (the trustee) might put money in a trust account for a daughter (the beneficiary) to use when she reaches a certain age.

What's covered?

To be insured, a deposit must be held in Canadian dollars at an Ontario credit union.

How much is covered?

Deposits held in trust are separately insured from deposits held in the names of the trustee or the beneficiary.

DICO insures deposits for each beneficiary for up to $250,000 held in trust account at an Ontario credit union for each named beneficiary. The combined money you have in insured trust accounts with the same beneficiary is automatically covered up to $250,000 for each beneficiary. Trust accounts with a different beneficiary/trustee combination are separately insured.

More than $250,000 in savings?

DICO provides separate insurance for deposits held in one name, jointly in more than one name, in a trust account and unlimited coverage for registered accounts.