Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia. For more information please refer to www.cudicbc.ca

As financial markets tumble, Canadians are understandably concerned. As a credit union member, you can rest assure that your money is safe and secure. In fact, the credit union system remains strong and calm.

Here are some ways the credit union system protects members like you:

• High deposit levels sourced mainly from local credit union members rather than global capital markets, providing a stable deposit base

• No ‘sub-prime’ mortgages – a chief cause of the current turmoil in the US

• Prudent lending in local communities

• Abundant capital reserves and liquidity, so your money’s always there when you need it

• Strong oversight by the provincial government through regulators such as the Financial Institutions Commission of B.C.

• Deposit insurance up to $100,000 per separate deposit (as defined by regulation) by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC)

Richard Thomas
Senior Vice President, Government Relations & Corporate Secretary

Charles Milne
Vice President, Treasury & Funding

Helmut Pastrick
Chief Economist

Offer their perspective on the recent market turbulence. Key points covered include:

• Credit union stability
• Economic situation
• Credit union regulations and deposit insurance

YouTube link:
http://www.youtube.com/watch?v=OiiI9_CKZzA

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