Deposit Insurance

Protecting our Members' Deposits

As a member of ECU – A Division of WFCU Credit Union, you can rest assured that your deposits are safe, secure and insured. As a credit union in Ontario our members deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA).

How Deposit Insurance Works

At ECU – A Division of WFCU Credit Union, eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA):

  • Chequing & Savings Accounts
  • Guaranteed Investment Certificates (GIC) and other term deposits regardless of term of investment
  • Money Orders
  • Funds in Transit
  • Index-linked Term Deposits (principal portion only)
  • Trust Accounts
  • Joint Accounts
  • Business Accounts (e.g. Corporations, Partnerships)

At ECU – A Division of WFCU Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA):

  • Locked-in retirement account (LIRA)
  • Life Income Fund (LIF)
  • Registered retirement savings plan (RRSP)
  • Registered retirement income fund (RRIF)
  • Registered disability savings plan (RDSP)
  • Registered education savings plan (RESP)
  • Tax-free savings account (TFSA)

The following are not insured through the Financial Services Regulatory Authority (FSRA):

  • Mutual Funds
  • Stocks
  • Shares
  • Mortgages
  • Membership Shares
  • Patronage, investment or preferred shares issued by the credit union
  • Foreign Currency Deposits
  • Contents of Safety Deposit Boxes
  • Securities held for safekeeping
  • Bonds & Debentures Issued by Governments and Corporations
  • Treasury Bills

Learn more about the Financial Services Regulatory Authority of Ontario (FSRA) at fsrao.ca.

For more information about Deposit Insurance: