The Credit Union Deposit Guarantee Corporation guarantees
the repayment of all deposits with Alberta credit unions, including accrued interest.
Additionally, the Credit Union Act provides that the Government of Alberta will ensure
that this obligation of the Corporation is carried out.
This guarantee covers all deposits including foreign currency deposits and deposits
with terms exceeding five years. It is not affected by a credit union changing its
name, amalgamating, or entering into similar types of arrangements.
Non-Deposits Not Guaranteed
This guarantee covers deposits only.
The guarantee does not cover non-deposit investments, examples of which include common
shares,investment shares, mutual funds and self-administered RRSP's that are not deposits
(e.g. shares, mutual funds).
Three Levels of Protection
The Credit Union Deposit Guarantee Corporation, a Provincial Corporation, and credit
unions, operate under the authority of the Credit Union Act. This legislation provides
a three-level system of deposit protection.
Each credit union is required to build and maintain capital to a level outlined in
the Credit Union Act and Regulations. A credit union's capital is comprised of:
retained earnings, and
common shares and investment shares (if any) owned by its members
The Credit Union Deposit Guarantee Corporation provides a 100% guarantee of all deposits
with Alberta credit unions. This protection includes accrued interest to the date
The Government of Alberta ensures that the Credit Union Deposit Guarantee Corporation's
obligation to depositors will be carried out.
Deposit Protection Brochure downloadable PDF:
Deposit Protection Brochure