The Credit Union Deposit Guarantee Corporation guarantees the repayment of all deposits with Alberta credit unions, including accrued interest to the date of payout.

This guarantee is more extensive than the banks’ insurance. All deposit amounts are fully guaranteed and include accrued interest to the date of payout. Deposit amounts include chequing and savings accounts, RRSP deposits,
RRIF deposits, TFSA deposits, foreign currency deposits, and term deposits, including those with terms exceeding five years.

The Credit Union Act provides that the Government of Alberta will ensure that the Credit Union Deposit Guarantee Corporation’s obligation to depositors is carried out.

Credit Union Deposit Guarantee Corporation is a Provincial corporation established under the Alberta Credit Union Act. A Board of Directors appointed by the Lieutenant Governor in Council of Alberta administers the Credit Union Deposit Guarantee Corporation.