A. Stability and dependability are two qualities every financial institution must have. On top of the rules and regulation that govern your Caisse populaire Alliance limitée operations, your accounts are covered up to 250 000 $ and your registered accounts are covered with unlimited deposit insurance provided by the Deposit insurance corporation of Ontario (DICO).
A. First of all, there is the fact that your Caisse populaire Alliance limitée is a cooperative. As such, it belongs to its members, i.e. to you and all the other members of the Caisse populaire Alliance limitée. The people that you elect to its Board of Directors are responsible for managing caisse business in the interests of the members. They must apply sound and prudent management practices, and adhere to a set of ethical rules and administrative standards. A part of their work is to see to it that the caisse has all the necessary insurance for fire, theft, fraud and any other possible danger. In addition, the Board of Directors elects an Audit Committee which acts on behalf of the members to verify proper application of all rules and standards.
A. The law requires regular inspections and annually audit the Caisse populaire Alliance limitée, in order to protect member assets and support the Caisse populaire Alliance limitée officers in the execution of their functions. This is the responsibility of the Deposit Insurance Corporation of Ontario, which evaluates whether the Caisse populaire Alliance limitée is managing its business according to sound and prudent management practices, while respecting the laws, standards and ethical rules in effect. In addition, the inspectors issue an opinion in accordance with recognized auditing standards.
A. Caisse populaire Alliance limitée has a reserve fund that receives a portion of the surplus earnings for each year. This reserve fund constitutes one form of guarantee for depositors. Being a member of Caisse populaire Alliance limitée provides each Caisse member with additional protection. Caisse populaire Alliance limitée also benefits from additional protection for its members deposits through the Deposit Insurance Corporation of Ontario.
A. The Ontario government does in fact have this responsibility, which is carried out by the Deposit Insurance Corporation of Ontario (DICO). The main purpose of this corporation is to ensure that financial institutions and other players in the sector follow the appropriate regulations respecting solvency, in accordance with the relevant legal requirements, which are intended to protect the interests of financial services users.
A. All credit unions and caisses populaires that solicit or receive deposits from the general public in Ontario are required to register with the Deposit Insurance Corporation of Ontario. Each Caisse is registered independently. This means that in each of the caisses, deposits are guaranteed for up to $250,000 per person.
In Ontario, deposits in registered savings plans are insured for their total amount. Other deposits in Canadian dollars are insured up to $250,000.
A. All Canadian dollar deposits you make at Caisse populaire Alliance limitée are insured up to $250,000, in accordance with the rules and regulations of the Deposit Insurance Corporation of Ontario. Deposits in registered savings plans are insured for their total amount. Other deposits in Canadian dollars are insured up to $250,000.