Will my deposits continue to be protected by deposit insurance following the migration to National Bank?

If you hold eligible deposits at Laurentian Bank and at National Bank at the time of migration, they will be insured separately up to $100,000 per depositor and per category, as if the migration had not taken place. The amount of separate coverage for those deposits will apply for a period of two years from the date of the migration less withdrawals from those deposits or until term deposits mature or are redeemed.

As such, eligible deposits at Laurentian Bank before the migration continue to be protected separately, up to $100,000 per category for a period of two years post-migration, or in the case of term deposits, until maturity or redemption. However, the amount of separate coverage is reduced by any withdrawals made from those separate deposits, or as term deposits mature or are redeemed.

Visit our deposit insurance page for more information.