Deposit Guarantee

The Deposit Guarantee Corporation of Manitoba (DGCM) provides an unlimited guarantee of all deposits in a Manitoba credit union or caisse populaire including accrued interest to date of payout. This guarantee covers all deposits including those in a foreign currency or with terms exceeding five years. The guarantee is not affected by a credit union or caisse populaire changing its name, amalgamating or entering into similar agreements. The guarantee covers deposits only. These include chequing, savings, guaranteed investment certificates/term deposits (GICs), and Registered Plans.

The guarantee does not cover non-deposit instruments which would include members’ share capital (e.g. common, surplus, or preferred shares), mutual funds, and self-administered RRSPs that are not deposits (e.g. equity shares and mutual funds).

DGCM ensures that credit unions and caisses populaires operate under sound business practices and maintain quality assets, thereby minimizing the risk of loss. Legislation requires credit unions and caisses populaires to maintain minimum levels of capital and liquidity.

The Deposit Guarantee Corporation of Manitoba maintains a fund to guarantee deposits. Credit unions and caisses populaires pay a quarterly assessment to maintain the fund at an acceptable level.

For more information on DGCM please visit their website at here.

Effective Wednesday, January 20, most of our branches will reopen to members. Learn more.
Important Notice: We merged with Access Credit Union effective January 1, 2021. Please continue using your legacy Crosstown Civic website, online banking and mobile app until further notice. Learn more