Non-depository institutions are financial institutions that provide various financial services, but their deposits are not CDIC insured.

Question

Quizplus · Accepted Answer

Non-depository institutions include investment banks, credit unions, insurance companies, and brokerage firms. While they offer financial services such as loans, insurance, and investment options, their deposits are not insured by CDIC, which is a federal Crown corporation that insures eligible Canadian deposits.

Non-Depository Institutions Are Financial Institutions That Provide Various Financial Services