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Any CWB GIC under 2 years maturity will be grandfathered and continue to be CWB in terms of CDIC protection I believe ?

savemoresaveoften said
Any CWB GIC under 2 years maturity will be grandfathered and continue to be CWB in terms of CDIC protection I believe ?  

Per https://www.cdic.ca/depositors/videos-and-resources/faqs/ coverage continues separately

If two or more CDIC member institutions amalgamate, insured deposits made at each institution before the amalgamation continue to be insured separately up to $100,000 per depositor per category, as if the institutions had not amalgamated. The amount of separate coverage is reduced by any withdrawals made from those separate deposits, or as term deposits mature (or are redeemed). Coverage with respect to any deposits made with the entity that resulted from the amalgamation depends on the aggregate volume of the deposits you made at the institutions before they amalgamated.

If your existing deposits (i.e., the sum of deposits you had with the entities immediately prior to the amalgamation) add up to a total of $100,000 or more, any new deposits you make at the institution after amalgamation will exceed the $100,000 maximum, so they will not be insured by CDIC.

If your existing deposits add up to a total of less than $100,000, any new eligible deposits you make at the amalgamated institution will be added to those previous deposits, and the total will be insured to a maximum of $100,000.

savemoresaveoften said
Any CWB GIC under 2 years maturity will be grandfathered and continue to be CWB in terms of CDIC protection I believe ?

Canadian Western Bank is now legally gone. All its deposits are now deposits of National Bank as of March 1.

CDIC press release How CDIC protection applies following Canadian Western Bank – National Bank of Canada transaction explains how CDIC Act subsecton 13(1) will operate to treat those "deposits" as separate National Bank "deposits" from any other National Bank "deposits" for deposit insurance coverage calculations:

Deposits with amalgamating institutions

13 (1) When a person has deposits with two or more member institutions that amalgamate and continue in operation as one member institution, in this section referred to as the “amalgamated institution”, a deposit of that person with an amalgamating institution on the day on which the amalgamated institution is formed, less any withdrawals from the deposit, shall, for the purposes of deposit insurance with the Corporation, be deemed to be and continue to be separate from any deposit of that person on that day with the other amalgamating institution or institutions that become part of the amalgamated institution for a period of two years or, in the case of a term deposit with a remaining term exceeding two years, to the maturity of the term deposit.

Deposits with amalgamated institution

(2) A deposit made by a person referred to in subsection (1) with an amalgamated institution after the day on which the amalgamated institution is formed shall be insured by the Corporation only to the extent that the aggregate of that person’s deposits with the amalgamated institution, exclusive of the deposit in respect of which the calculation is made, is less than one hundred thousand dollars.

Alexandra said

When I down load my statements of accounts, I do it from Motive on line. Motive has the Statement of Accounts for the RRIF's purchased at CWB as well as the Statement of Accounts for purchases through Motive. Both Statements have the same Customer No. However, there is no account information for CWT as they are are separate entity from Motive/CWB. The only "proof" I have is the "deposit Acknowledgement" This Acknowledgement has an account number on it. It States: This document is an Acknowledgement from Canadian Western Trust Company to the Depositor and for the amount shown......This Acknowledgement is for a CWT Guaranteed Investment Certificate.
I have never received any Statement of Accounts from CWT. I would pick up the matured GIC from CWB. CWB always sends out the Maturity Notice for CWT in my case at least.
I am sure you know all about this Norman....just saying how complicated it could get during the takeover.

Actually, I didn't know that Canadian Western Bank had set things up like that, the opposite of how other banks I've dealt with do.

Banks with a digital-only customers and full-service branch customers will put a wall between those two kinds of customers. For example, one cannot log into LBC Digital and see both one's LBC Digital and Laurentian Bank branded accounts.

GIC's from the same bank family are not separate. When I place funds to different RBC related issuers, the GIC's are not on their own. Through one RBC login, I see GIC's issued by Royal Bank of Canada, Royal Bank Mortgage Corporation, and Royal Trust all in one RBC GIC account.

I don't think there will be suprises when National Bank migrates your Canadian Western Bank and Motive products. Looks like CWB has already linked them together with a common customer number.

Not as certain about your Canadian Western Trust Company GIC's. Canadian Western Trust Company is still around. It hasn't been amalgamated yet with one of the sibling trust companies in the National Bank family.

It could take a while to switch the trustee on existing trusts and estates. In the 1992 Central Guaranty Trust failure, legislation, like the TD Trust Company Act, 1996 in Ontario, had to be passed to change all the Central Guaranty Trust Company trustee appointments over to TD Trust Company.

Your GIC's may all mature before Canadian Western Trust Company is fully migrated by National Bank!