Canada Deposit Insurance Corporation (CDIC)
All Oaken GICs and savings accounts are available through either Home Bank or Home Trust Company, both of which are separate members of the Canada Deposit Insurance Corporation (CDIC). This means that funds deposited with either issuer are eligible for full CDIC coverage, up to applicable limits. It ensures that your savings are protected in exactly the same way as the big banks, and that you can count on your money being there when you need it.
The following instruments and/or products are deposits eligible for deposit insurance from the Canada Deposit Insurance Corporation, subject always to maximum coverage limitations as outlined in their brochure “Protecting Your Deposits”, and provided they are Canadian funds are payable in Canada and have a term of no more than 5 years:
Term deposits and Guaranteed Investment Certificates
- Short-term deposit (non-registered/RSP/LIRA/LRSP)
- Guaranteed Investment Certificate (all plans)
- Cashable GIC (non-registered)
- High Interest Savings Account
- Oaken Savings Account
- Mortgage Tax Account
- Visa* Card Security Deposit
Not directly available to depositor
- Suspense Accounts
- Unclaimed Cheques
- Items in Transit
For further information
Phone: 1-800-461-CDIC (1-800-461-2342)
Copies of “Protecting Your Deposits – CDIC Information” and “CDIC Membership” are available at all Oaken stores and Home Trust office locations.
*Visa Int./Home Trust Company, licensed user of mark.