The Credit Union Deposit Insurance Corporation (CUDIC),

a government corporation, was established in 1958 to protect credit union members against the loss of deposits held by British Columbia credit unions. CUDIC's responsibility is to administer and operate a deposit insurance fund. The Financial Institutions Commission (FICOM), an agency of the Government of British Columbia, is responsible for administering CUDIC and for administering the regulation of financial institutions operating in the province.

http://www.fic.gov.bc.ca/responsibilities.cudic/consumerinformation.htm