Why It's Important





Deposit Insurance
The Credit Union Deposit Insurance Corporation of British Columbia (CUDIC) is a statutory corporation that provides deposit insurance for members’ deposits with all British Columbia based credit unions. The Financial Institutions Commission, an agency of the government of B.C., is responsible for administering CUDIC and for regulating financial institutions operating within the province of British Columbia.
 
All money on deposit and money invested in non-equity shares with a B.C. credit union is 100% guaranteed, including foreign currencies and accrued interest, regardless of the length of the term to maturity. Credit union equity shares and investments such as mutual funds or RRSP equity plans are not covered by deposit insurance.
 
For more information about CUDIC please visit their website listed below.
 
https://www.cudicbc.ca/index.aspx?p=cudic/index