Whether you keep it in a credit union or bank, your money is equally safe in Canada. The Canadian Deposit Insurance Corporation (CDIC) protects funds you hold in a bank chequing account or savings account up to $100,000. Similarly, provincial deposit insurance corporations guarantee the money individuals keep in credit union accounts. In many cases, the amount protected exceeds what the CDIC offers to banks. For example, the Financial Services Regulatory Authority of Ontario insures credit union members for up to $250,000 on non-registered accounts and provides complete protection for registered accounts.