The Canada Deposit Insurance Corporation (CDIC) has admitted Tru Cooperative Bank, formerly First West Credit Union, to its membership and set out how deposit insurance will apply as provincial coverage ends. Eligible deposits made before 1 April 2026 receive transitional coverage for 180 days on the same terms previously provided by the Credit Union Deposit Insurance Corporation of British Columbia. Term deposits such as Guaranteed Investment Certificates (GICs) remain covered until maturity or cash-out, while demand deposits such as chequing and savings accounts remain covered for the transition period. After the transition, all eligible deposits held at Tru Cooperative Bank, and any new deposits made on or after 1 April 2026, will be protected under CDIC insurance up to CAD 100,000 per deposit category.
Canada Deposit Insurance Corporation 2026-04-01
Canada Deposit Insurance Corporation adds Tru Cooperative Bank as a member with 180-day transitional coverage before CAD 100,000 limits apply
The Canada Deposit Insurance Corporation has admitted Tru Cooperative Bank, formerly First West Credit Union, as a member and outlined how federal deposit insurance will apply as provincial coverage ends. Eligible deposits made before 1 April 2026 receive transitional coverage, with term deposits covered until maturity or cash-out and demand deposits covered for 180 days. Thereafter, all eligible deposits at Tru Cooperative Bank, including new deposits from 1 April 2026, will be protected under Canada Deposit Insurance Corporation insurance up to CAD 100,000 per category.