As an Ontario Credit Union, we are regulated by the Financial Services Regulatory Authority (FSRA).
FSRA also insures your deposits in Ontario credit unions.
All deposits held in non-registered accounts in Canadian currency payable in Canada are covered up to .
Insurable deposits held in registered accounts are FULLY insured with no limit on the maximum amount.
What is covered under the $250,000 and is considered an insurable deposit:
- Savings and chequing accounts
- Term deposits
- Money Orders
- Funds in transit
- Index-linked deposits (principle portion only)
What has unlimited coverage:
- Registered savings plans like RRSPs, RRIFs and RESPs
- Tax Free Savings Accounts
Separate coverage is provided for insurable deposits held in:
- Join Accounts
- Trust Accounts
For further information on deposit insurance, please ask for a brochure at the credit union or visit FSRA's website at www.fsrao.ca