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DICO Protection

Deposit Insurance Corporation of Ontario (DICO) is a corporation established by the Credit Unions and Caisses Populaires Act (Ontario) to provide deposit insurance for credit union and caisse populaire depositors against loss of part or all of their deposits. The deposits accepted by all credit unions and caisse populaires in Ontario, subject to deposit insurance coverage limits specified in the Act and by DICO By-laws are insured by DICO.

Highlights of DICO coverage:

  • Insures all deposits in Canadian currency, for each depositor in the Credit Union to a maximum of $100,000 for the combined principal and interest relating to that member’s total deposits.

  • In addition, separately insured are such amounts up to $100,000 for each RRSP/RRIF/OHOSP contract of the member.

  • Insured deposits must not have a term greater than 5 years.

  • DICO does not insure; share capital, deposit accounts not in Canadian funds, contents of safety deposit boxes, securities held for safekeeping, any investments of a self administered RRSP that are not deposits.

Click here to see the DICO Web Site.

 

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