College Hill Credit Union

Peace of Mind Through Security

Whenever you deposit money in a New Brunswick credit union, your deposits are safeguarded by three levels of protection:

At the credit union level

Credit union legislation requires that each credit union maintain a minimum level of equity in the credit union to provide protection against potential financial losses.

At the credit union stabilization board level

Credit unions have pooled resources together over the years to establish a stabilization fund. This level of protection is unique to credit unions. This fund is available to provide financial assistance to credit unions in the event that losses have depleted their equity base.

In addition to providing financial assistance to credit unions, a stabilization board carries out inspections and monitors the financial condition and business practices of all credit unions on an ongoing basis.

At the New Brunswick Credit Union Deposit Insurance Corporation level

The New Brunswick Credit Union Deposit Insurance Corporation (NBCUDIC) was established under the Credit Unions Act in January 1994 to provide deposit insurance for credit union members in the Province of New Brunswick.

It provides the following deposit insurance coverage:

a maximum basic coverage of $60,000 for insured deposits (principal and interest combined); and
separate deposit coverage up to a maximum of $60,000 each for joint deposits, trust deposits and deposits held in registered retirement savings plans (RRSPs) and in registered retirement income funds (RRIFs).

The above information is from the New Brunswick Credit Union Deposit Insurance Corporation. For more information about deposit insurance contact:

Credit Union Stabilization Fund
P .O. Box 862
200 Commercial St., Suite 235
Moncton, NB E1C 8N6
Telephone: 1-800-565-3911
(506) 853-7474
Fax: (506) 853-7280

New Brunswick Credit Union Deposit Insurance Corporation
P.O. Box 6000
Fredericton, NB E3B 5H1
Telephone: (506) 453-2315
Fax: (506) 453-7474

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