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- C.U. Deposit Insurance
The Credit Union Deposit Insurance Corporation (CUDIC), a statutory corporation, guarantees all deposits and non-equity shares of British Columbia credit unions as set out in the Financial Institutions Act.
The list of current CUDIC insured credit unions
CUDIC's responsibility is to administer and operate a deposit insurance fund. The Financial Institutions Commission (FICOM), an agency of the Government of British Columbia, is responsible for administering CUDIC and for administering the regulation of financial institutions operating in the province.
On November 27, 2008, the Provincial legislature passed amendments to the
Financial Institutions Act to provide unlimited deposit insurance protection on all deposits in British Columbia’s credit unions.
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