Advisories
Advisory 4
A Note of Caution
As you can appreciate, interpretation of individual
situations as to how deposit insurance coverage
may apply can vary significantly. Because there
is a potential risk that an incorrect interpretation
may establish a verbal contract with your members
that may be incorrect, only representatives of the
Nova Scotia Credit Union Deposit Insurance Corporation
(CUDIC) are authorized to discuss coverage of deposit
insurance with your members.
If you receive queries on deposit insurance coverage,
please advise your staff that they should confirm
that credit unions do have deposit insurance coverage,
provide them with a copy of our brochure, and encourage
them to call us at (902) 422-4431 to discuss specific
details. If outside the Halifax area, please call
collect.
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