Credit Union Deposit Guarantee Corporation guarantees the full repayment of deposits held in Saskatchewan credit unions.
Deposits held in Saskatchewan credit unions are fully guaranteed. There is no limit to the size of deposit covered by the guarantee – whether $1 or $1,000,000 or more, all deposits are fully guaranteed.
The guarantee applies to all forms of personal, business and trust deposits held in Saskatchewan credit unions.
This includes, but is not limited to:
* chequing or savings accounts
* term deposits such as GICs
* registered plans, such as RRSPs, on deposit in a credit union
* the Canadian equivalent of funds deposited in another currency
* accrued interest on deposits
* principal on index-linked term deposits – the return is guaranteed once the credit union is holding it
The guarantee covers all deposits in Saskatchewan credit unions regardless of membership, citizenship or residence of the depositor.
The guarantee only applies to deposits and does not apply to any form of equity or capital such as membership or investment shares.
For more information, visit www. cudgc.sk.ca