You bet they do but they are not underwritten by the govt. like Royal, Cibc, Bns an Bank Of Montreal...the larger banks...they gaurantee you up to 100k...the credit unions are underwritten by private say like manulife...and are guarnteed up to 100 percent.....so incase the banks failed I diversified to two diff. creditunions and 2 diff banks.....now privates that insure Credit Unions can go under but at least the risk was spread