Your deposits are protected up to $250,000 per account type at Nova Scotia credit unions. From savings and chequing accounts to eligible deposits held in RRSPs, TFSAs, and trusts, our comprehensive coverage is backed by robust reserves, proven loss-prevention practices, and strong provincial oversight – giving you the security and peace of mind you deserve.
By planning your investment portfolio with an understanding of deposit protection, you can achieve maximum coverage for your combined savings. In fact, your coverage can grow with your investment portfolio.
In a planned credit union portfolio, you are insured up to $250,000 on a range of accounts. This includes coverage for your primary savings and chequing accounts, money held in a joint savings account, funds held in a trust account, and all eligible deposits held in your TFSA, RRSP, RRIF or RESP contracts up to $250,000 each. So, by choosing multiple contracts, you can now have unlimited coverage of your RRSP portfolio. Or, if you choose a trust fund, each beneficiary of the trust receives the maximum $250,000 coverage. This means you enjoy greater flexibility and security when planning your investment options.
Deposit protection in Nova Scotia credit unions and caisses popularies isn’t limited to deposit insurance. It builds on a healthy credit union system, bolstered by CUDIC’s comprehensive loss prevention program and insurance programs, and is backed by provincial legislation. Your deposits are safeguarded by four levels of protection: