This episode of the Mo’ Money Podcast is supported by Canada Deposit Insurance Corporation (CDIC). To learn how your savings are protected thanks to CDIC, visit CDIC.ca. Or check your CDIC knowledge by taking this free quiz at DepositInsuranceEndurance.com.
Is your money safe at the bank? It’s a question I get asked all the time. Same with is it safe to use an online bank. And that’s thanks to the Canada Deposit Insurance Corporation (CDIC). I’ve personally partnered with CDIC for years because I believe it’s so important to spread awareness about how our deposits are protected at the bank. In other words, if your bank goes bankrupt, you won’t lose any of your money at that bank. And just so you know, there hasn’t been a bank failure in Canada for 25 years. And even when there was a bank failure in Canada, as long as CDIC has been around, not a single Canadian has lost a dime!
To share more about this, so you too can spread the word and feel confident that your money is safe at the bank, I’ve got Peter Routledge, President & CEO of CDIC on the show to explain what CDIC is, how it works, and what you should know.
Things Mentioned in This Episode
- CDIC Deposit Insurance Calculator
- What’s Covered by CDIC?
- List of CDIC Member Institutions
- I’m giving away copies of all the books featured on this season of the podcast! To enter, visit jessicamoorhouse.com/contests
- Apply to enrol in my investing course Wealth Building Blueprint for Canadians
Looking for Financial Help?
Looking for some financial help during these tough and uncertain times? Check out my online courses and budget spreadsheets on my new shop page!