The Canada Deposit Insurance Corporation (CDIC) has been protecting Canadians’ bank deposits from bank failures since 1967, so you can feel safe keeping your money at the bank.
Not only that, protection is automatic for you as a depositor, CDIC is only funded by financial institutions’ insurance premiums (they don’t receive any public funding), and it’s very easy to ensure all of your eligible deposits are protected by staying under CDIC’s different insurance thresholds.
To learn more and to try out CDIC’s Coverage Calculator, visit https://CDIC.ca.
And to watch my full-length YouTube video, visit https://www.youtube.com/watch?v=5CViY_-j60E
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