The Canada Deposit Insurance Corporation published a consumer guide, “A working woman’s guide to financial wellness”, setting out three steps to help working women build a financial plan and understand how to keep savings protected. The article encourages readers to start by clarifying goals and aligning savings choices accordingly, citing examples such as using a tax-free First Home Savings Account (FHSA) for a first home or a tax-deferred Registered Education Savings Plan (RESP) for education savings. It also reiterates that CDIC protects eligible deposits in the event of a member institution failure, with coverage across several categories including FHSAs and RESPs and protection up to CAD 100,000 for each category and member institution, and points to CDIC’s online calculator for estimating coverage. The final step focuses on simplifying ongoing money management, including using automatic transfers and tools such as the Financial Consumer Agency of Canada’s financial goal calculator and budget planner.
Canada Deposit Insurance Corporation 2026-02-20
Canada Deposit Insurance Corporation publishes financial wellness guide highlighting deposit insurance coverage up to CAD 100,000 per category
The Canada Deposit Insurance Corporation released “A working woman’s guide to financial wellness,” outlining steps for women to create financial plans and safeguard savings. The guide emphasizes setting clear goals, utilizing tax-advantaged accounts like the First Home Savings Account and Registered Education Savings Plan, and highlights CDIC's protection of eligible deposits up to CAD 100,000 per category. It also advises simplifying money management through automatic transfers and financial planning tools.