CP:
"Deposits are 100% guaranteed by the Credit Union Deposit Guarantee Corporation. This means both the money you put in and the interest earned is safe and secure – up to any dollar amount.
"Is Credit Union Deposit Guarantee Corporation
part of the Alberta Government?
Credit Union Deposit Guarantee Corporation is a
Provincial corporation established under the
Alberta Credit Union Act. A Board of Directors
appointed by the Lieutenant Governor in Council
of Alberta administers the Credit Union Deposit
Guarantee Corporation.
Are deposits in Alberta credit unions 100%
guaranteed?
The Credit Union Deposit Guarantee Corporation
guarantees the repayment of all deposits with
Alberta credit unions, including accrued interest
to the date of payout. It is not affected by a credit
union changing its name, amalgamating or
entering into similar types of arrangements.
Does the Government of Alberta also cover
deposits?
The Credit Union Act provides that the
Government of Alberta will ensure that the
Credit Union Deposit Guarantee Corporation’s
obligation to depositors is carried out.
Is this guarantee the same as the banks’ $100,000
insurance?
This guarantee is more extensive than the banks’
insurance. All deposit amounts are fully
guaranteed and include accrued interest to the
date of payout.
Deposit amounts include
chequing and savings accounts, RRSP deposits,
RRIF deposits, TFSA deposits, foreign currency
deposits, and term deposits, including those with
terms exceeding five years."
Servus Credit Union's 100% guarantee covers all deposits, including accrued interest to the date of payout. The guarantee does not cover non-deposit investments, such as Common Shares, investment shares, mutual funds and self-administered RRSPs that are not deposits (e.g., shares, mutual funds).
The Government of Alberta ensures that the Credit Union Deposit Guarantee Corporation's obligations to depositors will be carried out.
In essence CP the ATB and Credit Unions have the same deposit guarentee... 100 percent.
How can you get it better than that?
Cheers!
"Deposits are 100% guaranteed by the Credit Union Deposit Guarantee Corporation. This means both the money you put in and the interest earned is safe and secure – up to any dollar amount.
"Is Credit Union Deposit Guarantee Corporation
part of the Alberta Government?
Credit Union Deposit Guarantee Corporation is a
Provincial corporation established under the
Alberta Credit Union Act. A Board of Directors
appointed by the Lieutenant Governor in Council
of Alberta administers the Credit Union Deposit
Guarantee Corporation.
Are deposits in Alberta credit unions 100%
guaranteed?
The Credit Union Deposit Guarantee Corporation
guarantees the repayment of all deposits with
Alberta credit unions, including accrued interest
to the date of payout. It is not affected by a credit
union changing its name, amalgamating or
entering into similar types of arrangements.
Does the Government of Alberta also cover
deposits?
The Credit Union Act provides that the
Government of Alberta will ensure that the
Credit Union Deposit Guarantee Corporation’s
obligation to depositors is carried out.
Is this guarantee the same as the banks’ $100,000
insurance?
This guarantee is more extensive than the banks’
insurance. All deposit amounts are fully
guaranteed and include accrued interest to the
date of payout.
Deposit amounts include
chequing and savings accounts, RRSP deposits,
RRIF deposits, TFSA deposits, foreign currency
deposits, and term deposits, including those with
terms exceeding five years."
Servus Credit Union's 100% guarantee covers all deposits, including accrued interest to the date of payout. The guarantee does not cover non-deposit investments, such as Common Shares, investment shares, mutual funds and self-administered RRSPs that are not deposits (e.g., shares, mutual funds).
The Government of Alberta ensures that the Credit Union Deposit Guarantee Corporation's obligations to depositors will be carried out.
In essence CP the ATB and Credit Unions have the same deposit guarentee... 100 percent.
How can you get it better than that?
Cheers!
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