Our Guarantee

 

Like any other financial institution, 1st Choice Savings is closely regulated.  The Credit Union Deposit Guarantee Corporation fully insures members' deposits.

All deposit amounts are 100% guaranteed and include accrued interest to the date of payout.  Deposit accounts include chequing and savings accounts, RRSP deposits, RRIF deposits, TFSA deposits, foreign currency deposits, and term deposits.

Three levels of protection

Level One:

Each credit union is required to build a maintain capital to a level outlined in the Credit Union Act and Regulations.

Level Two:

The Credit Union Deposit Guarantee Corporation provides a 100% guarantee of all deposits with Alberta credit unions.

Level Three:

The Government of Alberta ensures that the Credit Union Deposit Guarantee Corporation's obligation to the depositors will be carried out.

Deposit Protection Brochure

 

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