Deposit Insurance

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

The liability of FSRA to insure deposits held at Ontario credit unions is limited to the assets of the Deposit Insurance Reserve Fund.   

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

Subject to coverage limits, eligible deposits held with FSRA member institutions are automatically insured; you do not have to apply for coverage.

What is covered under the credit union deposit insurance coverage?

For further details on deposit insurance coverage, please refer to this information booklet, which provides details and answers to many commonly asked questions.