Deposit insurance from the CDIC

Cidc sadc
Laurentian Bank of Canada is a Canada Deposit Insurance Corporation (CDIC) member institution. LBC Trust and Laurentian Trust of Canada Inc. are subsidiaries of Laurentian Bank of Canada and CDIC members in their own right.

The CDIC is a federal Crown corporation that protects eligible deposits payable in Canada at each CDIC member institutions up to a maximum of $100,000 (principal and interest combined, calculated in Canadian dollars) per insured category.

As of April 30, 2022, the CDIC will initiate the following changes to your eligible deposits:
  1. Separate coverage for up to $100,000 in eligible deposits held under Registered Education Savings Plans (RESPs);
  2. Removal of separate coverage for deposits in mortgage tax accounts (these deposits will be combined with eligible deposits in other categories, such as savings in one name).
For eligible deposits held in trust, changes also introduce new categories with unique disclosure requirements, including:
  • Professional trustee account*; and
  • Deposit held in trust other than a professional trustee account or nominee broker deposit.

For more information regarding the protection of your deposits by CDIC, you may contact the CDIC by calling 1-800-461-2342 or visiting cdic.ca, or read the Canadian Deposit Insurance Corporation (CDIC) abbreviated brochure.

A detailed list of CDIC eligible deposits held at Laurentian Bank of Canada, LBC Trust and Laurentian Trust of Canada Inc.

LAURENTIAN BANK OF CANADA

List of trade names:

  • Private Banking

Deposit accounts

+ Interest accounts

  • À la carte1
  • Cash Account2,3,4,5
  • Investment Excellence1
  • Mortgage Tax Account8
  • Trust Account for Professionals
  • LBC Digital Chequing Account6
  • LBC Digital and branch High-Interest Savings Account (HISA)6
  • Day By Day Interest Plus US Account

+ Non-interest accounts

  • Chequing Account (2015)1
  • Chequing Savings1
  • Current Account (commercial clients)
  • Day by Day1
  • Chequing Account
  • Senior Citizen Account1
  • Foreign Currency Account (commercial clients)

+ Periodic Savings and Investment Plan – The Goal Getter

  • Budget Plan
  • Project Plan1
  • Security Plan

+ Registered plans

  • Guaranteed investment product and cash in a Registered Retirement Savings Plan (RRSP)
  • Guaranteed investment product and cash in a Tax-Free Savings Account (TFSA)
  • Guaranteed investment product and cash in a Registered Retirement Income Fund (RRIF)
  • Cash in a Registered Education Savings Plans (RESPs)

+ Investments

  • Guaranteed investment certificate (GIC)2,3,4,5,7
  • Blue Chip ActionGIC2,3,4,5
  • Canadian ActionGIC1,2,3,4,5
  • Canadian Growth ActionGIC1,2,3,4,5
  • Canadian Sustainability ActionGIC3,4,5
  • Quebec Performance ActionGIC3,4,5
  • GIC Xtra1,3,5,6
  • Multi-Rater GIC1,2,3,4,5
  • Multi-Rater Xtra GIC1,3,4,5
  • Term deposit (TD)2,3,4,5

+ Other

  • Certified cheque
  • Bank draft


LBC TRUST

List of trade names:

  • Nil

+ Investments

  • Guaranteed investment certificate (GIC)3,4,5
  • Blue Chip ActionGIC3,4,5
  • Canadian ActionGIC1,3,4,5
  • Canadian Growth ActionGIC1,3,4,5
  • Canadian Sustainability ActionGIC3,4,5
  • Quebec Performance ActionGIC3,4,5
  • GIC Xtra1,3,4,5
  • Multi-Rater GIC1,3,4,5
  • Multi-Rater Xtra GIC1,3,4,5
  • Term deposit (TD)3,4,5


LAURENTIAN TRUST OF CANADA INC.

List of trade names:

  • Nil

+ Investments

  • Guaranteed investment certificate (GIC)3,4,5
  • Blue Chip ActionGIC3,4,5
  • Canadian ActionGIC1,3,4,5
  • Canadian Growth ActionGIC1,3,4,5
  • Canadian Sustainability ActionGIC3,4,5
  • Quebec Performance ActionGIC3,4,5
  • GIC Xtra1,3,4,5
  • Multi-Rater GIC1,3,4,5
  • Multi-Rater Xtra GIC1,3,4,5
  • Term deposit (TD)3,4,5

 

 

Legal notice

*Professional trustee means any of the following who is not a nominee broker:
  1. the public trustee of a province or a similar public official whose duties involve holding moneys in trust for others;
  2. a federal, provincial or municipal government, or a department or agency of such a government;
  3. a lawyer or partnership of lawyers, a law corporation, or a notary or partnership of notaries in the province of Quebec, when they act in that capacity as a trustee of moneys for others;
  4. a person who is acting as a trustee of moneys for others in the course of business and is required by or under a statute to hold the deposit in trust;
  5. a person who is acting as a trustee of moneys for others in the course of business and is subject to the rules of a securities commission, stock exchange or other regulatory or self-regulating organization that audits compliance with those rules; or
  6. a regulated federal or provincial trust company acting in the capacity of a depositor.
  1. Although still active, this type of account is no longer offered by Laurentian Bank.
  2. Conventional Retirement Savings Plan.
  3. Conventional Retirement Savings Plan, Locked-In Retirement Account, Group Retirement Savings Plan and Fixed-Term Annuity Savings Plan.
  4. Tactical Retirement Savings Plan, Tactical Group Retirement Savings Plan, Tactical Retirement Income Fund, Tactical Life Income Fund and Tactical Locked-In Retirement Account.
  5. Self-Directed Retirement Savings Plan, Self-Directed Locked-In Retirement Account, Self-Directed Fixed-Term Annuity Registered Savings Plan and Self-Directed Retirement Income Fund.
  6. Available only through an online application on LBC Digital. For more details, see: https://www.lbcdigital.ca/en/index.
  7. GIC offered through online applications on LBC Digital are non-registered and non-redeemable. For more details, see: https://www.lbcdigital.ca/en/index.
  8. Mortgage tax accounts will be combined with eligible deposits in other categories, such as savings in one name, and will no longer be eligible for separate coverage.