NBCUDIC is an agent of the Crown governed by the provisions of the Credit Unions Act. Our mission under the Act is threefold. First, we protect people who have eligible deposits with a credit union in New Brunswick by providing deposit insurance against loss. Second, we protect credit unions against financial losses and insolvency by establishing and maintaining a deposit protection fund. And finally, we provide financial assistance to credit unions for the purpose of stabilization.
The Corporation was first established in 1992. On 1 January 2020, the new Credit Unions Act came into effect that restructured the regulatory framework and created a single deposit protection fund administered by NBCUDIC. Regulation 2019-31 under the Credit Unions Act sets the level of deposit insurance protection to members of New Brunswick credit unions to $250,000.
Annual reports archive
Our annual reports summarize NBCUDIC’s activities each fiscal year and the annual audited financial statements of the Deposit Protection Fund. Learn more about how we protect members of New Brunswick’s credit unions by viewing these annual reports.