Your Deposits Are Fully Guaranteed
When you bank with a Saskatchewan credit union, 100% of your deposits are guaranteed — no matter the amount.
The Credit Union Deposit Guarantee Corporation (CUDGC) protects deposits held in Saskatchewan credit unions against credit union failure. This means you can feel confident knowing your money is protected.
CUDGC maintains this full guarantee by working closely with Saskatchewan credit unions to help keep them financially strong and by maintaining a guarantee fund that would be used to repay deposits should a credit union fail.
And here’s some added peace of mind: No one has ever lost a dollar deposited in a Saskatchewan credit union due to credit union failure. Since 1953 the Credit Union Deposit Guarantee Corporation has guaranteed the full repayment of deposits held in Saskatchewan Credit Unions. Whether its $1 or $1,000,000 or more, all your deposits are fully guaranteed.
Saskatchewan Credit Unions Are Different
Deposit protection varies across Canada. Each province has its own credit union deposit protection program, with different levels and types of coverage.
In Saskatchewan, your deposits are fully guaranteed.
The Canada Deposit Insurance Corporation (CDIC) provides deposit insurance for federally regulated financial institutions, including banks, federally regulated credit unions, and loan and trust companies. Saskatchewan credit unions are protected separately through CUDGC.
