Tru Cooperative Bank is a proud member of the Canada Deposit Insurance Corporation (CDIC). CDIC is a federal crown corporation established by the Government of Canada which provides deposit insurance coverage for its members. Coverage is free and automatic—members of Tru Cooperative Bank do not have to apply for it.
protecting your deposits
Canada Deposit Insurance Corporation (CDIC)
For more information about CDIC
- Call 1-800-461-2342
- Visit www.cdic.ca
- Refer to the CDIC Protecting Your Deposits information
- Refer to the Statement on Transitional Coverage (PDF)
Deposits held in trust
CDIC insures eligible deposits in Canadian and foreign currency held in trust for up to $100,000 (Canadian dollars) per beneficiary named in a trust provided requirements are met. Required information includes details about the deposit held in trust, information about the trustee(s), and information about each beneficiary including name, address and interest the deposit.
Trustee(s) are required to provide updated beneficiary information for their general trust accounts anytime a change occurs, or if applicable, a Professional Trustee can elect the account to be a Professional Trust Account (PTA) and provide a completed Professional Trustee Account Attestation by April 30th of each year to benefit from less onerous disclosure requirements. For more information on trustees and CDIC's requirements, please visit https://www.cdic.ca/financial-professionals/trustees/.