CDIC begins online awareness campaign
The Ottawa-based Canada Deposit Insurance Corporation has begun an online campaign intended to raise awareness of the deposit protection offered by the Crown corporation. The campaign takes the form of a series of videos featuring television personality and financial author Gail Vaz-Oxlade. The videos, aimed primarily at seniors, describe which kinds of accounts are covered by deposit insurance and which are not, such as foreign currency accounts that may be used by Canadians spending the winter in other countries. The videos have been posted to YouTube and to the corporation's website at <http://www.cdic.ca>.
"Understanding deposit insurance is an important aspect of financial literacy, particularly for people like retirees who would have little opportunity to make up losses in the event their bank failed," said Michele Bourque, president and CEO of the CDIC.