What happens to my insurance coverage if I am also a member of Vancity Credit Union?
Separate deposits prior to the merger will retain separate deposit insurance for five years following the merger, until the money is withdrawn or at term maturity, whichever is earlier. In other words, a separate deposit from one credit union which is the same type as a separate deposit from the other credit union will not be combined, as they would otherwise be. For more information on this topic, please refer to the following web site for a Bulletin issued by the Financial Institutions Commission (FICOM): http://www.fic.gov.bc.ca/pdfreports/cu/cu%2D1997%2D001.
