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Monday, September 21, 2020

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We understand the entertainment industry, and the people in it.

Deposit Insurance Reserve Fund (DIRF)

Deposit Insurance Coverage for Ontario Credit Unions and Caisses Populaires

Financial Services Regulatory Authority of Ontario’s (FSRA) deposit insurance program protects insurable deposits held with Ontario credit unions and caisses populaires. Deposit insurance is part of a comprehensive depositor protection program that ensures the safety and soundness of credit unions and
caisses populaires.

What's covered?

Insurable deposits held at Ontario credit unions and caisses populaires in Canadian currency are covered up to a maximum of $250,000. Insurable deposits include:

  • Chequing and savings accounts
  • Guaranteed Investment Certificates (GIC) and other term deposits (regardless of term of investment)
  • Money orders
  • Funds in transit
  • Index-linked term deposits (principal portion only)

All insurable deposits in the following registered accounts have unlimited coverage:

  • Locked-in retirement account (LIRA)
  • Life income fund (LIF)
  • Registered retirement savings plan (RRSP)
  • Registered retirement income fund (RRIF)
  • Registered disability savings plan (RDSP)
  • Registered education savings plan (RESP)
  • Tax-free savings account (TFSA)

To be eligible for deposit insurance coverage, you must be a member of the credit union or caisse populaire. Deposit insurance coverage is provided by the Deposit Insurance Reserve Fund administered by FSRA and pre-funded by Ontario credit unions and caisses populaires at no cost to depositors.

What's not covered?

The following are not covered under FSRA’s deposit insurance program:

  • Mutual funds
  • Membership shares
  • Patronage, investment or preferred shares issued by a credit union
  • Foreign currency deposits
  • Contents of safety deposit boxes
  • Securities held for safekeeping

For more information about FSRA and the Deposit Insurance Reserve Fund please visit: https://www.fsrao.ca/consumers/credit-unions-and-deposit-insurance


To help limit the spread of COVID-19 virus the office is closed until further notice in accordance with the recommendations of the City of Toronto  Read more...

Look Who's Talking

Shelley Cook recalls a time when she approached one of the big banks for a loan. “I told them I was a stunt girl and they said ‘Do you have a real job?’ “ Read more...

Deposit Insurance Reserve Fund

Did you know that deposits are insured by the Deposit Insurance Reserve Fund (DIRF)? So you can rest comfortably knowing your deposits are safe.   Learn more... 


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