The New Brunswick Credit Union Deposit Insurance Corporation (NBCUDIC) is extending deposit protection coverage for first-time home buyers.
Effective January 1, 2024, members of New Brunswick credit unions insured with NBCUDIC can enjoy deposit insurance coverage for First Home Savings Accounts, to a maximum of $250,000.
Insurance coverage for this savings product is available through credit unions insured by NBCUDIC. All protected credit unions should display an NBCUDIC sticker on their door.
Not sure if your credit union is insured by NBCUDIC? Visit the NBCUDIC website to see if your credit union is listed, and learn more about what this coverage means for you as you prepare for the biggest purchase of your life.
NBCUDIC is an agent of the Crown governed by the provisions of the Credit Unions Act. Our mission under the Act is threefold: First, we protect people who have eligible deposits with a credit union in New Brunswick by providing deposit insurance against loss. Second, we protect credit unions against financial losses and insolvency by establishing and maintaining a deposit protection fund. And finally, we provide financial assistance to credit unions for the purpose of stabilization.