Protecting your deposits
Your investment with Bridgewater Bank is secure. We are a member of the Canada Deposit Insurance Corporation (CDIC) which means deposits up to $100,000 are eligible for deposit insurance by CDIC. Protection for eligible deposits is outlined in the brochure “Protecting Your Deposits” located on the CDIC website.
CDIC is a federal Crown corporation – a part of the Government of Canada – that protects eligible deposits at financial institutions that are CDIC members. For more information about CDIC coverage, please contact CDIC at 1.800.461.CDIC (2342) or visit the CDIC website.
The following instruments and/or products are eligible for deposit insurance coverage from the Canada Deposit Insurance Corporation (CDIC) – subject to maximum coverage limitations as outlined in its Protecting Your Deposits brochure.
Products eligible for CDIC coverage:
- Bridgewater Bank Non-Redeemable Guaranteed Investment Certificate (GIC)
- AMA Financial Non-Redeemable GIC*
- Bridgewater Bank Smart eSavings™ Account
* Products available for purchase solely to Alberta Motor Association (AMA) members.
CDIC coverage is free and automatic – you don’t have to sign up. However, CDIC recommends that all customers keep their contact information at their financial institution up-to-date and know what products are covered (and what is not).
To be eligible for deposit insurance, a deposit must be:
- payable in Canada
- in Canadian currency
- have a term of 5 years or less
CDIC protection helps Canadians feel confident about keeping their money in banks and other financial institutions that are CDIC members. This helps to keep the Canadian financial system strong, which benefits all Canadians. Ensure your financial institution is a CDIC member by visiting the CDIC website’s link for List of Member Institutions.