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Deposit and Investment Insurance

Government-guaranteed Peace of Mind

Your deposits and investments at FirstOntario are automatically insured by the Deposit Insurance Corporation of Ontario (DICO) up to $250,000 if they are held outside a registered plan such as an RRSP, RRIF, RESP or TFSA. 

The products covered are

  • Savings and chequing accounts
  • GICs, index-linked and other term deposits, all with a maturity of five years or less
  • Money orders; travelers cheques; and drafts, as long as the funds are in Canadian dollars

There is also coverage for deposits made toward realty taxes on mortgaged property money held in trust accounts. Investments such as stocks, bonds, mutual funds and credit union investment shares are not covered.

If all your deposits and investments are held in a single name, you’re protected by the government guarantee up to a combined $250,000 per person.  But joint accounts are eligible for another $250,000 of protection on deposits per set of joint depositors, separate from the money you hold in your own name.

DICO is an agency of the Government of Ontario which provides deposit insurance protection for the Members of all Ontario credit unions and caisses populaires.

Unlimited Protection for Registered Deposits and Investments

There’s no limit to the insurance coverage for deposits and investments in registered plans at FirstOntario Credit Union.  DICO guarantees every dollar invested in an RRSP, RRIF, RESP or TFSA.

Having all of your registered deposits with FirstOntario means you can potentially earn more, save time and feel secure because you:

  • Don’t need to track investments in multiple locations
  • Can minimize the service fees that can deplete your savings
  • Get the advice you need on your full portfolio, and
  • Enjoy unlimited protection from DICO on all of your registered deposits


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