Deposit Security

At CUA, your funds are secure.

As a full-service and deposit-taking banking institution, CUA takes pride in managing member funds with fiscal prudence and high financial standards. 

CUA is provincially regulated by the Nova Scotia Credit Union Deposit Insurance Corporation (CUDIC). CUDIC works directly with the Nova Scotia Department of Finance to set standards and policies that ensure the most comprehensive insurance and stabilization programs of any banking institution in Nova Scotia. 

For more than 70 years, CUA has demonstrated continued growth in assets and membership, and operate with a focus on fiscal prudence and long-term sustainability. With a management team that is committed to the continued success of the organization, you can count on CUA to manage your funds as though they were its own.  

For individuals

CUA offers comparable deposit protection to what is available to chartered bank customers. Member deposits are insured on a range of accounts including primary savings and chequing accounts, money held in a joint savings account, funds held in a trust account and all TFSA, RRSP, RRIF or RESP funds up to a maximum of $250,000 per account type. Coverage can be maximized by choosing a mix of investment and savings options, ensuring funds are not only secured but also are generating interest for the future. CUA works diligently to ensure the funds are arranged expertly and managed responsibly. 

For businesses

As a small business with more than 70 years of sustained growth and profitability, CUA understands the importance of having an effective cash flow strategy and accessing capital when a business needs it for expenses, expansion or emergencies. That’s why CUA is proud to offer extremely competitive rates and greater flexibility when compared to the chartered banks. CUA’s deposit services provide flexible terms that fit the unique needs of every business, ensuring funds are where they’re needed when they’re needed most.  By choosing CUA, businesses can count on having the flexibility required to thrive. Similar to individual insurance coverage, commercial member deposits are insured up to $250,000.

To learn more about CUA’s deposit services, deposit protection and fund security policies, please contact a member of our team at 902.492.6500 or

What accounts are protected with CUDIC? Expand/Collapse

  • All deposit accounts – the combined total of each member’s chequing, savings and term deposit accounts are covered up to $250,000, including principal and interest.
  • Trust deposits are insured separately up to $250,000, including principal and interest. Each person in a trust account is insured separately up to $250,000, including principal and interest.
  • All joint accounts owned by the same combination of persons are added together and the combined total is insured to $250,000, including principal and interest.
  • Every registered RRSP, RRIF, TFSA, and RESP investment contract is insured separately to $250,000, including principal and interest.

How is the limit for deposit insurance protection calculated for deposits held in the name of a business? Expand/Collapse

CUDIC insures deposits of a business at each Nova Scotia credit union up to a maximum of $250,000 for all business types, except sole proprietorships.

Deposits for eligible business accounts are insured separately from deposits held in the names of any of the individual principals. Eligible deposits in the name of a business will be insured separately from eligible deposits in individual accounts or accounts in the name(s) of the business owner(s) if the business is a partnership or an incorporated business.

Do I need to file a claim? Expand/Collapse

No. CUDIC will determine all insured deposits and pay member claims as they are entitled.

What's the difference between CUDIC and CIDC? Expand/Collapse

CUDIC (Credit Union Deposit Insurance Corporation) provides deposit insurance for provincially operated credit unions. Every active credit union in Nova Scotia is required by law to be insured by CUDIC.

CDIC (Canada Deposit Insurance Company) provides deposit protection for federal financial institutions that operate across Canada. Under CDIC, coverage is limited to $100,000 per depositor per deposit category.

Find Branch/ATM

Enter address, postal code or branch name