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  • Home > investing/advice > Advice > Deposit Insurance Corporation of Ontario (DICO)

    Deposit and Investment Insurance

    Deposit Insurance Corporation of Ontario (DICO) provides deposit insurance for all eligible deposits in all Ontario credit unions.

    Who pays for deposit insurance?

    Libro pays the premiums to DICO for deposit insurance coverage based on the amount of insured deposits held.

    What and how much is insured?

    • Eligible deposits in all registered plans are fully insured, including RRSP, RESP, RRIF and TFSA.*
    • Other Canadian dollar deposits are insured up to $100,000.*

    What is not insured?

    DICO does not insure:

    • mutual funds;
    • membership shares;
    • patronage, investment or preferred shares issued by a credit union;
    • foreign currency deposit accounts;
    • contents of safety deposit boxes;
    • securities held for safekeeping.

    What Happens if a Credit Union Amalgamates with Another Credit Union?

    If an amalgamation of credit unions results in your total individual insurable deposits with the new credit union exceeding the $100,000 maximum, special rules apply*:

    • Term deposits remain insured until maturity;
    • Demand deposits remain insured until withdrawn;
    • All deposits in registered savings plans remain fully insured until withdrawn.

    * For further information on deposit insurance, please ask for a brochure at Libro Credit Union or call DICO at 1-800-268-6653 or log on to the website at www.dico.com.