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Email this12:35 pm
April 19, 2019
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How much does a Credit Union pay to become FSRA insured? or is it per product they offer? For example how much do they pay to insure GICs, TFSA, regular chequing/savings accounts?
12:49 pm
February 20, 2022
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butterflycharm said
How much does a Credit Union pay to become CDIC insured? or is it per product they offer? For example how much do they pay to insure GICs, TFSA, regular chequeing/savings accounts?
It would be banks, CUs are not covered by CDIC.
"The CDIC Policy of Deposit Insurance prohibits members from disclosing premium rating information they receive from CDIC..."
https://www.cdic.ca/financial-community/for-cdic-members/premiums/
1:13 pm
April 19, 2019
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FastJonny said
It would be banks, CUs are not covered by CDIC.
"The CDIC Policy of Deposit Insurance prohibits members from disclosing premium rating information they receive from CDIC..."https://www.cdic.ca/financial-community/for-cdic-members/premiums/
Stand corrected: how much for FSRA? And if premiums are also prohibited to be disclosed why is that? And someone probably has written somewhere what they are or an average of it?
Based on below seems they have 4 categories of premiums. Does anyone know the averages of these premium rates if not the exact numbers? assuming they move with the inflation. Would they be in the 0.0x% for the low risk or in the 0.x% or in the x.0%? I can't think of it to be higher than 1% in any case.
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