Credit Union Deposit Insurance Corporation

Requirements for Advertising the Deposit Guarantee

Public Information about the Deposit Insurance Guarantee

Public information about the BC deposit insurance program should be communicated through materials provided by the BC Financial Services Authority (“BCFSA”). Further questions should be directed to BCFSA staff.

The “Peace of Mind through Security” brochure has been developed to answer the most frequently asked questions about the BC credit union deposit insurance program. If questions about the deposit guarantee remain unanswered, the brochure directs depositors to CUDIC’s website at www.cudicbc.ca for additional information and to knowledgeable staff who can be contacted by telephone.

The CUDIC brochure is available from Central Forms Supply (1 800 561 9952) at a reasonable cost. Since the brochure is supplied only to credit unions, the credit unions must ensure that its deposit agents and brokers remain adequately supplied.

BC credit unions may otherwise advertise the deposit insurance guarantee program only in accordance with the permitted formats, detailed below.

Statutory Obligations of Advertisers

Credit Union advertising managers should pay special attention to Section 274 of the Financial Institutions Act (FIA), which relates to advertising of the deposit guarantee.

Section 274 establishes the authority of the BC Financial Services Authority (the commission) to regulate advertising of the deposit guarantee and the obligations of advertisers in advertising the guarantee:

274	(1)	The commission may issue to each credit union a mark, sign or device, designating coverage under the fund, that may be displayed at the office of the credit union and reproduced on the credit union’s stationery or advertising.
	(2)	A credit union must not represent, advertise or hold out that the credit union or any of its share or deposits or money invested in or deposited with it is protected or insured under this Act otherwise than by the use of marks, signs, advertisements or other devices
			a) authorized by the commission, or
			b) accordance with prescribed standards of advertising.
	(3)	A credit union must not represent, advertise or hold out that its deposits or share other than those guaranteed under Section 266 are guaranteed or insured under this Act.

Advertising of the Deposit Guarantee

The sample advertising wording and usage has been approved by the BC Financial Services Authority (BCFSA), and may be displayed at credit union offices and used in credit union advertising without further approval.

Any variation to the authorized advertising text of the deposit insurance coverage is not permitted. BCFSA will no longer accept requests for approval for variation to the authorized advertising text. A person commits an offence who contravenes section 274.

Standards of Advertising

The following standards of advertising are provided to credit unions for production of advertisements to prevent misunderstanding and inadvertent misrepresentation of the deposit guarantee.

Primary Emphasis
In all advertising media, ensure that the primary emphasis is on your credit unionï¿½s services, not the deposit guarantee.

The advertising of the deposit guarantee as a benefit of joining a credit union can be used as long as this benefit statement appears at the bottom of the list of benefits. For example:

" B.C. Credit Unions, where deposits are 100% protected ",

" Get unlimited deposit insurance at B.C. Credit Unions ",

Comparative Advertising
Comparative advertising of the deposit guarantee with deposit insurance of other types of financial institutions is not permitted.

Use of the Term " Guarantee "
The use of the term ï¿½guaranteeï¿½ is acceptable for Guaranteed Investment Certificate (GIC) term deposits, and investment in other types of credit union deposits. Otherwise, the term ï¿½guaranteeï¿½ is not permitted for use in advertisements that contain references to the deposit guarantee.

Insurable Deposits Only
Mention of the deposit guarantee is restricted to advertising of deposit products only. In situations where deposits, mutual funds and equity shares appear in the same advertisement, there are to be distinct sections for mutual funds and equity shares and deposits. Any reference to deposit insurance coverage can only appear in the ï¿½depositsï¿½ section.

Print Advertising

The following short advertising statements are to be used for print advertising.

Approved Use of "Protection" Wording

At (NAME) Credit Union, depositors are 100% protected by the Credit Union Deposit Insurance Corporation of British Columbia.
Credit Union Deposit Insurance Corporation of British Columbia. Deposits are 100% protected.
The Credit Union Deposit Insurance Corporation of British Columbia, a statutory corporation protects 100% of all credit union deposits.
All Deposits with B.C.ï¿½s Credit Unions are 100% protected. Protection provided by the Credit Union Deposit Insurance Corporation of British Columbia.
Depositors are 100% protected. Protection provided by the Credit Union Deposit Insurance Corporation of British Columbia.
Depositors are fully protected. Protection provided by the Credit Union Deposit Insurance Corporation of British Columbia.
As a credit union member, you receive unlimited depositor protection from the Credit Union Deposit Insurance Corporation of British Columbia.

Approved Use of the Word "Guarantee"

B.C. Credit Union Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia.
The Credit Union Deposit Insurance Corporation of British Columbia, a statutory corporation, fully guarantees all deposits.
Deposits with B.C. Credit Unions are fully guaranteed. Protection provided by the Credit Union Deposit Insurance Corporation of British Columbia.
All deposits are guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia.
Deposits are 100% guaranteed. Protection provided by the Credit Union Deposit Insurance Corporation of British Columbia.
All deposits are fully guaranteed. Protection provided by the Credit Union Deposit Insurance Corporation of British Columbia.

Approved Use of ï¿½Securityï¿½ and ï¿½Peace of Mindï¿½ Wording

1. Credit Unions are a safe place to deposit. Depositors are fully protected by the Credit Union Deposit Insurance Corporation (CUDIC) of British Columbia.
2. Credit unions are a safe place to deposit. Deposits are 100% insured by the Credit Union Deposit Insurance Corporation (CUDIC) of British Columbia.
1. The Credit Union Deposit Insurance Corporation (CUDIC) of British Columbia, a statutory corporation, protects all British Columbia credit union deposits. Peace of mind through securityï¿½ youï¿½ll find at your credit union.
2. The Credit Union Deposit Insurance Corporation of British Columbia (CUDIC), a statutory corporation, protects all deposits of all British Columbia credit union members.
  The CUDIC brochure, ï¿½Your Guide to B.C. Credit Union Deposit Insuranceï¿½, further explains deposit insurance coverage and is available at our branch(es). Peace of Mind through securityï¿½youï¿½ll find it at your credit union.
1. More than one million British Columbians enjoy the solid security and peace of mind that comes from saving at their credit union. The Credit Union Deposit Insurance Corporation of British Columbia, a statutory corporation, protects all British Columbia credit union depositors. Security, dependability, and trustï¿½thatï¿½s the unbeatable combination you will find at (NAME) Credit Union.
1. All credit unions in the province have member deposit insurance coverage with the Credit Union Deposit. Insurance Corporation (CUDIC) of British Columbia. All money deposited with a B.C. credit union is guaranteed by CUDIC.

Internet/Home Page Advertising

The Credit Union Deposit Insurance Corporation (CUDIC) of British Columbia brochure, ï¿½Your Guide to B.C. Credit Union Deposit Insuranceï¿½, is available on CUDICï¿½s website.

Credit unions may provide a ï¿½hot linkï¿½ to CUDICï¿½s website. The internet address is: https://www.cudicbc.ca.

Any advertising of the deposit insurance guarantee on the internet must comply with the standards for Print Advertising as contained in this webpage.

Television, Radio and Telephone System Advertising

The following supplied wording can be used in television and radio commercials and on telephone systems:

Depositors are 100% protected.
Depositors are 100% guaranteed.
(NAME) Credit Union, where deposits are 100% protected.
(NAME) Credit Union, where deposits are 100% guaranteed.
The Credit Union Deposit Insurance Corporation of British Columbia, a statutory corporation, protects all British Columbia credit union deposits. Peace of mind through securityï¿½youï¿½ll find at (NAME OF CREDIT UNION).
Deposits are 100% insured by the Credit Union Deposit Insurance Corporation of British Columbia. Ask for details.
(NAME) Credit Union deposits are guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia. Ask for details.
Credit union deposits are eligible for deposit insurance provided by the Credit Union Deposit Insurance Corporation of British Columbia. Ask for details.

Signage

No signage relating to the Deposit Guarantee (other than the CUDIC decals) is permitted on the exterior of the credit union building.

CUDIC Logo

Download a logo file by clicking on the appropriate thumbnail below, then right clicking and selecting Save Target As.

Advertising Decals

To obtain advertising decals please contact BCFSA