Provincial CU Insurance Authorities | General financial discussion | Discussion forum

Nehpets said
From this Moneysense article titled How safe is it to keep more than $100,000 in one savings account? dated July 12, 2019, most of the topics are likely understood by most Forum members; however what I found interesting was a comprehensive listing (with links) to each Provincial deposit insurance authority:

Credit Union Deposit Insurance Corporation of B.C.

Alberta Credit Union Deposit Guarantee Corporation

Saskatchewan Credit Union Deposit Guarantee Corporation

Deposit Guarantee Corporation of Manitoba

Deposit Insurance Corporation of Ontario

Autorité des marchés financiers (Québec)

Credit Union Deposit Insurance Corporation (PEI)

Nova Scotia Credit Union Deposit Insurance Corporation

New Brunswick Credit Union Deposit Insurance Corporation

Newfoundland and Labrador Credit Union Deposit Guarantee Corporation

Stephen  

Thanks, Stephen...I personally don't favour MoneySense anymore since it was bought up for a song by a group of mortgage brokers who profess to maintain the site's editorial integrity whilst doing practically the exact opposite, or at least the next worst thing by littering the site with contextually-targeted Google ads. 🙁

Nonetheless, your list essentially sums up the only useful thing from the MoneySense blog post which you cited, minus all of the MoneySense profiteering. Also, to add to your list, I would also add Advocis, which is the deposit insurer for life insurance contracts, annuities, and insurance company GICs. It resembles more the CDIC deposit insurance approach.

Provincial deposit insurance varies in terms of whether there's an explicit or implicit guarantee by the provincial government; often, it seems to be the latter, or even less than that, at least publicly. Practically speaking, though, if push came to shove, I think any provincial government would come to the aid of a provincial deposit insurer so as to protect depositors from losing their figurative shirts. 🙂

Cheers,
Doug