Frequently Asked Questions
- Can a depositor leave his/her deposit with the transferee institution?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
Did You Know?
- Misconception: Depositors of a failed member institution would receive payment immediately upon closure of the failed member. - Fact: The legislation governing the operations of the Deposit Insurance system provides for payout to commence within 3 months of the closure of a member institution.
