Deposit Guarantee

As a member of the Credit Union Deposit Guarantee Corporation, all deposits at Raymore Credit Union are fully guaranteed. Deposit Guarantee Corporation fulfills an important role in a unique regulatory environment. Its powers and responsibilities are defined in provincial legislation. The Corporation carries out its regulatory role as part of the Saskatchewan credit union system. The Corporation’s positive relationships with government, credit unions and SaskCentral contribute to the creation and maintenance of a supportive legislative framework and prudential regulatory structure for Saskatchewan credit unions. Deposit Guarantee Corporation is given its responsibilities, obligations and powers by the provincial government, as outlined in provincial legislation - The Credit Union Act, 1998. The Corporation’s primary responsibilities are to: guarantee the repayment of deposits in Saskatchewan credit unions maintain, administer and manage a guarantee fund in a manner consistent with industry standards establish prudential standards of sound business practice and monitor credit union performance according to those standards direct credit unions to take immediate action on any issue that has the potential to place depositors’ funds at risk For more information, visit the Credit Union Deposit Guarantee Corporation website.