CDIC

Media Advisory: CDIC 2023 Annual Public Meeting – Protecting the Financial Future of Depositors

Retrieved on: 
Wednesday, October 11, 2023

OTTAWA, Oct. 11, 2023 (GLOBE NEWSWIRE) -- CDIC will host its 2023 Annual Public Meeting via live bilingual webcast on October 12, 2023, from 2:00 to 3:00 p.m.

Key Points: 
  • OTTAWA, Oct. 11, 2023 (GLOBE NEWSWIRE) -- CDIC will host its 2023 Annual Public Meeting via live bilingual webcast on October 12, 2023, from 2:00 to 3:00 p.m.
  • ET.
  • This year’s theme is Protecting the Financial Future of Depositors.
  • Join Leah Anderson, President & Chief Executive Officer, and Robert Sanderson, Chair of the Board of Directors, as they discuss how CDIC is protecting depositors and promoting financial stability through deposit insurance and resolution preparedness in a complex and dynamic financial environment.

WealthRocket Survey Finds 56% of Canadians Concerned our Banking System is Vulnerable to Collapse

Retrieved on: 
Monday, May 1, 2023

TORONTO, May 1, 2023 /PRNewswire-PRWeb/ -- 

Key Points: 
  • 56% of Canadians are concerned Canada's banking system is vulnerable to collapse.
  • A new survey conducted by WealthRocket reveals more than half (56%) of Canadians are concerned our domestic banking system is vulnerable to collapse, similar to what's happened with some banks in the U.S. and Europe.
  • 56% of Canadians are concerned our banking system is vulnerable to collapse, with younger Canadians — particularly millennials — most concerned.
  • Our mission is to empower Canadians to make informed financial decisions and get the most out of their money.

Intuit TurboTax® Canada partners with Neo Financial to launch first of its kind offer bringing tax filers fast access to money

Retrieved on: 
Monday, February 27, 2023

To help Canadians get their hands on funds faster, Intuit TurboTax, in partnership with Neo Financial, is introducing TurboTax Cash—powered by Neo Financial.

Key Points: 
  • To help Canadians get their hands on funds faster, Intuit TurboTax, in partnership with Neo Financial, is introducing TurboTax Cash—powered by Neo Financial.
  • To learn more about TurboTax Cash—powered by Neo Financial, or for additional information on TurboTax's suite of tax solutions, visit turbotax.
  • The Neo Money™ card is a prepaid Mastercard® issued by Equitable Bank pursuant to license by Mastercard International Incorporated.
  • The Neo Money™ card is powered by the Neo Money™ account, which is provided by Concentra Bank.

Counsel Portfolio Services Launches IPC High Interest Savings Fund

Retrieved on: 
Monday, January 30, 2023

TORONTO, Jan. 30, 2023 /CNW/ - Counsel Portfolio Services Inc. ("Counsel") today announced the launch of the IPC High Interest Savings Fund (the "Fund"), a Canadian-dollar investment solution designed to provide investors with a potentially higher rate of interest than a typical savings account.

Key Points: 
  • TORONTO, Jan. 30, 2023 /CNW/ - Counsel Portfolio Services Inc. ("Counsel") today announced the launch of the IPC High Interest Savings Fund (the "Fund"), a Canadian-dollar investment solution designed to provide investors with a potentially higher rate of interest than a typical savings account.
  • "The IPC High Interest Savings Fund is an important addition to our existing suite of investment solutions," said Blair Setford, Vice President, Product Management at Counsel.
  • "The IPC High Interest Savings Fund allows investors to earn a higher rate of interest in the short term on their cash balances.
  • ^The IPC High Interest Savings Fund is not Canada Deposit Insurance Corporation (CDIC) insured.

EQ Bank launches in Quebec

Retrieved on: 
Thursday, December 8, 2022

TORONTO, Dec. 8, 2022 /PRNewswire/ - EQ Bank, powered by Equitable Bank, Canada's Challenger Bank, announced it has launched its award-winning EQ Bank digital banking platform into the Quebec market, making it available coast-to-coast to all Canadians.

Key Points: 
  • TORONTO, Dec. 8, 2022 /PRNewswire/ - EQ Bank, powered by Equitable Bank, Canada's Challenger Bank, announced it has launched its award-winning EQ Bank digital banking platform into the Quebec market, making it available coast-to-coast to all Canadians.
  • EQ Bank was named the top Bank in Canada on the Forbes World's Best Banks 2022 and 2021 lists.
  • EQ Bank is a trade name of Equitable Bank.
  • Deposits made under EQ Bank and Equitable Bank are aggregately eligible for CDIC protection up to $100,000, per insured category, per depositor

AIR MILES Welcomes Neo Financial to the Program, Offering New Opportunity to Earn Miles

Retrieved on: 
Tuesday, December 6, 2022

TORONTO, Dec. 6, 2022 /CNW/ - The AIR MILES Reward Program (AIR MILES) is announcing today a new partnership agreement with Neo Financial (Neo), adding the Canadian-born company to its expanding roster of partners.

Key Points: 
  • TORONTO, Dec. 6, 2022 /CNW/ - The AIR MILES Reward Program (AIR MILES) is announcing today a new partnership agreement with Neo Financial (Neo), adding the Canadian-born company to its expanding roster of partners.
  • Neo Financial is a Canadian technology company that offers consumers tech-first financial tools to spend, save, invest, buy a home,and more.
  • The partnership between AIR MILES and Neo Financial opens a variety of opportunities for collectors to earn Mileson their money and create new value streams for collectors.
  • At launch, the first offer collectors can take advantage of is earning 1,000 Miles when closing a new or refinanced mortgage with Neo Financial.

CDIC discusses how preparedness is key to protecting depositors

Retrieved on: 
Thursday, November 3, 2022

OTTAWA, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Canada Deposit Insurance Corporation (CDIC) held its Annual Public Meeting today via live webcast.

Key Points: 
  • OTTAWA, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Canada Deposit Insurance Corporation (CDIC) held its Annual Public Meeting today via live webcast.
  • As we have for 55 years, CDIC remains steadfast in its mandate to protect the savings of depositors in the unlikely event a member institution should fail.
  • CDIC is a federal Crown corporation established in 1967 to protect the savings of Canadians and contribute to financial stability.
  • As resolution authority, CDIC is responsible for handling the failure of any of our members, from the smallest to the largest.

Media Advisory: Canada Deposit Insurance Corporation (CDIC) 2022 Annual Public Meeting

Retrieved on: 
Wednesday, November 2, 2022

OTTAWA, Nov. 02, 2022 (GLOBE NEWSWIRE) -- On Thursday, November 3,2022, CDIC will hold its Annual Public Meeting.

Key Points: 
  • OTTAWA, Nov. 02, 2022 (GLOBE NEWSWIRE) -- On Thursday, November 3,2022, CDIC will hold its Annual Public Meeting.
  • You are encouraged to participate in both official languages and may ask questions of the presenters live, or in advance by emailing [email protected] .
  • CDIC is a federal Crown corporation established in 1967 to protect the savings of Canadians and contribute to financial stability.
  • As resolution authority, CDIC is responsible for handling the failure of any of our members, from the smallest to the largest.

EQ Bank increases its interest rate to 2.50% on everyday banking

Retrieved on: 
Monday, October 17, 2022

TORONTO, Oct. 17, 2022 /PRNewswire/ - EQ Bank, powered by Equitable Bank, Canada's Challenger Bank, announced it is increasing its interest rate by 0.50% to 2.50%1, effective October 17, 2022.

Key Points: 
  • TORONTO, Oct. 17, 2022 /PRNewswire/ - EQ Bank, powered by Equitable Bank, Canada's Challenger Bank, announced it is increasing its interest rate by 0.50% to 2.50%1, effective October 17, 2022.
  • The new 2.50% interest rate is available as of October 17, 2022, to all current and new customers, and applies to EQ Bank Savings Plus Accounts, Joint Savings Plus Accounts, TFSA Savings Accounts and RSP Savings Accounts.
  • At the same time, EQ Bank is increasing its US Dollar Account interest rate from 1.40% to 2.00%1, and in the coming months it will launch its first payment card.
  • EQ Bank is a trade name of Equitable Bank.

CDIC seeks input on its funding framework

Retrieved on: 
Monday, July 25, 2022

This protection includes CDIC having in place a strong funding framework to support the timely resolution of a member institution in the rare event it should fail.

Key Points: 
  • This protection includes CDIC having in place a strong funding framework to support the timely resolution of a member institution in the rare event it should fail.
  • The purpose of CDICs ex ante fund is to provide funding support for the resolution of a CDIC member institution.
  • CDICs funding framework ensures the corporation can quickly reimburse depositors and support effective strategies for resolving a member failure.
  • Additional information about the DPS consultation and CDICs funding framework including the deposit insurance ex ante fund is available on CDICs website.