Deposit Insurance

Your Deposits are Safe at Revelstoke Credit Union

On November 27, 2008, the Provincial legislature passed amendments to the Financial Institutions Act to provide unlimited deposit insurance protection on all deposits in British Columbia's credit unions, through the Credit Union Deposit Insurance Corporation (CUDIC). All money on deposit and money invested in non-equity shares of a BC credit union is 100% guaranteed, including foreign currencies and accrued interest, regardless of the length of the term to maturity.

Deposit insurance applies automatically. It is not necessary to apply for deposit insurance.

The Financial Institutions Commission (FICOM) is responsible for administering CUDIC and for administering the regulation of financial institutions operating in the province.

What Does This Mean for You?

This means that deposits in Revelstoke Credit Union are covered by the unlimited deposit insurance and you can rest assured that your deposits are fully protected. You benefit from security, safety and peace of mind.

For more information on CUDIC and deposit insurance please visit the CUDIC website.