Credit unions offer many of the same services as a bank such as cash deposits, investments, mortgages and more. The moment you become a credit union member and make a deposit, your insurable deposits are protected. FSRA, through the Deposit Insurance Reserve Fund (DIRF), provides coverage of non-registered insurable deposits, such as a chequing or savings accounts, up to a maximum amount of $250,000, while deposits in registered accounts, such as RRSPs or TFSAs, have unlimited coverage.

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Deposit Insurance Coverage for Ontario Credit Unions and Caisses Populaires

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

All credit unions and caisses populaires in Ontario are required to prominently display the official decal provided by FSRA at each of their locations.

Download the Deposit Insurance Reserve Fund (DIRF) Brochure


All credit unions that hold member deposits that are insured by the DIRF are required to display prominently in their premises a physical copy of the following decal and place an electronic version of the decal on their websites:

Common questions

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Who pays for deposit insurance coverage?

  • Credit unions and caisses populaires pay for deposit insurance coverage through premiums paid to FSRA. All insurable deposits held by depositors are automatically covered.
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What happens if a credit union or caisse populaire goes out of business?

  • Payments for insurable deposits are made as soon as possible;
  • The payment includes principal and interest up to $250,000 for insurable deposits held in non-registered accounts aggregated together and unlimited for insurable deposits held in registered accounts; 
  • Borrowers from an insolvent credit union or caisse populaire are responsible for repayment of outstanding debt until paid in full and will be notified by letter from FSRA with specifics, including any exercise of a right of set-off against deposits or deposit insurance payments to assist in such repayment.
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As an account owner what can I do to ensure complete and prompt payment if my credit union or caisse populaire fails?

  • Ensure your credit union or caisse populaire always has your current and complete contact information;
  • Understand what’s covered and what’s not.