Are credit union deposits insured?

Yes, credit union deposits are insured by the Credit Union Deposit Guarantee Corporation. Coverage is for amounts up to $250,000. per account type.

Account types included are:

-Savings including chequing, plan 24, spdc, term deposit, share savings.
-Registered accounts including RRSP`s and RRIF`s
-Trust Accounts
-Joint Accounts

Account types NOT included are:

-Equity Shares including Membership Shares and Special Loan Shares

-Mutual Funds, any type