Insurable deposits
 108. (1) In this section, “deposit”, for the purpose of deposit insurance, means the unpaid balance of the aggregate of monies received, or held by a credit union, including interest thereon, from or on behalf of a person in the usual course of its deposit-taking business, for which the credit union, (a) has given or is obligated to give credit to that person’s account or has issued or is obligated to issue a receipt, certificate, debenture, transferable instrument, draft, certified draft or cheque, prepaid letter of credit, money order or other instrument in respect of which it is liable, and (b) is obligated to repay the monies on a fixed day, on demand by the person or within a specified period of time following demand by the person. O. Reg. 105/22, s. 108 (1). (2) For the purposes of the Act, each of the following is one insurable deposit: 1. A person’s deposit with the credit union that is not otherwise described in this section. 2. A joint deposit with the credit union of two or more persons, not in trust for a named beneficiary. Each unique combination of depositors gives rise to a separate insurable deposit. 3. A deposit with the credit union of a person, in trust for one named beneficiary. 4. A joint deposit with the credit union of two or more persons, in trust for one named beneficiary. Each unique combination of depositors gives rise to a separate insurable deposit. 5. The interest of each named beneficiary in a deposit with the credit union by a person, in trust for more than one named beneficiary. 6. The interest of each named beneficiary in a joint deposit with the credit union of two or more persons, in trust for more than one named beneficiary. Each unique combination of depositors gives rise to separate insurable deposits. 7. A deposit with the credit union, not in trust for a named beneficiary, to any of a person’s registered retirement savings plans within the meaning of the Income Tax Act
(Canada). 8. A deposit with the credit union, in trust for a named beneficiary, to any of a person’s registered retirement savings plans within the meaning of the Income Tax Act (Canada). 9. A deposit with the credit union, not in trust for a named beneficiary, to any of a person’s registered retirement income funds within the meaning of the Income Tax Act
(Canada). 10. A deposit with the credit union, in trust for a named beneficiary, to any of a person’s registered retirement income funds within the meaning of the Income Tax Act (Canada). 11. A deposit with the credit union, not in trust for a named beneficiary, to any of a person’s tax-free savings accounts within the meaning of section 146.2 of the Income Tax Act
(Canada). 12. A deposit with the credit union, in trust for a named beneficiary, to any of a person’s tax-free savings accounts within the meaning of section 146.2 of the Income Tax Act (Canada). 13. A deposit with the credit union, not in trust for a named beneficiary, to any of a person’s registered disability savings plans within the meaning of the Income Tax Act (Canada). 14. A deposit with the credit union, in trust for a named beneficiary, to any of a person’s registered disability savings plans within the meaning of the Income Tax Act (Canada). 15. A deposit with the credit union, not in trust for a named beneficiary, to any of a person’s registered education savings plans within the meaning of the Income Tax Act (Canada). 16. A deposit with the credit union, in trust for a named beneficiary, to any of a person’s registered education savings plans within the meaning of the Income Tax Act (Canada). 17. A deposit with the credit union, not in trust for a named beneficiary, to any of a person’s first home savings accounts within the meaning of the Income Tax Act (Canada). 18. A deposit with the credit union, in trust for a named beneficiary, to any of a person’s first home savings accounts within the meaning of the Income Tax Act (Canada). O. Reg. 105/22, s. 108 (2); O. Reg. 111/23, s. 2.