Deposit insurance

If you own a house or a car, there’s a good chance you also own insurance. Saving and investment accounts issued by banks also come with insurance, except it doesn’t cost you any money. This insurance is known as CDIC coverage. It is issued by a federal Crown corporation called the Canada Deposit Insurance Corporation.

As a Canadian, it’s rare that you’ll make a direct investment yourself. Residential real estate and other appreciable property (like collectables or gold, for example) are the most common exceptions to this rule. You can buy … Read More

Home Capital continues to be in the news, but it’s no longer about trouble with regulators and a run on deposits.

When you deposit money in a savings account, chequing account, or GIC, your money is usually protected by the Canada Deposit Insurance Corporation (CDIC).

Spring comes along with the spring mortgage market, and the best mortgage rates are about to get a bit better as competition heats up among the banks and the prime rate is expected to hold steady. … Read More

If you’ve walked into the branch of a Canadian bank, you’ve probably noticed a red sticker on the window. That sticker tells the public that the financial institution is a member of the Canadian Deposit Insurance … Read More