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DICO Protection

Deposit Insurance Corporation of Ontario (DICO) 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. 

Highlights of DICO coverage:

  • Insures all deposits in Canadian currency, for each depositor in the Credit Union to a maximum of $250,000 for the combined principal and interest relating to that member’s total deposits.

  • Deposits held jointly by depositors are insured separately from insurable deposits in each individual depositor’s name.

  • Insurable deposits held in trust accounts are insured separately from deposits owned by the trustee or the beneficiary.

  • All insurable deposits in registered accounts are all fully insured.

Click here to see the DICO Web Site.

 

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