EQ Bank now 2.3% (up from 2%) | Page 4 | EQ Bank | Discussion forum

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EQ Bank now 2.3% (up from 2%)
June 21, 2017
12:53 pm
Nehpets
Ontario
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Loonie said
Ontario credit unions are going to increase their coverage; I think it's next year but am not sure. 

Yes, you are correct (Source: DICO website)

The Ontario Government has approved changes to the General Regulation (O. Reg. 237/09) of the Credit Unions and Caisses Populaires Act, 1994

Amendments to the Credit Unions and Caisses Populaires Act, 1994 and the General Regulation, Ontario Regulation 237/09, have been approved and will become effective on the latter of the date of proclamation of Schedule 5 of the Building Ontario Up for Everyone Act or January 1st, 2018.

The amendments include an increase in deposit insurance coverage up to $250,000 on eligible insured non-registered deposits.

June 27, 2017
1:43 pm
bunyip
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If EQ is offering 2.3% to avoid going under, what are we to make of Royal Bank's 2%?

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