Deposit Insurance Coverage Increase
We’re happy to share that the Deposit Insurance Corporation of Ontario (DICO) has increased the deposit insurance coverage limit for eligible non-registered deposits to $250,000 from the previous limit of $100,000. Registered deposit coverage remains unlimited.
DICO is an Ontario Provincial Agency whose role is to protect depositors of Ontario credit unions and caisses populaires from loss of their deposits. MCU pays premiums to DICO for this coverage so there is no cost to our members.