This merger does not change the amount of deposit insurance coverage provided to depositors of co-operative banks. All deposits in co-operative banks continue to be insured in full. Each depositor is insured to at least $250,000 by the FDIC. Effective March 17, 2020, all deposits above the FDIC limit are now insured by the DIF. This merger will benefit depositors by creating a deposit insurance fund with greater resources to protect deposits in member banks.

The CCB and DIF have a long history of protecting deposits in member Massachusetts chartered banks. Since 1934, when the CCB and DIF insurance funds were created, no depositor has lost a cent in a member bank. To learn more about the DIF’s history, operations, and deposit insurance coverage, please click on the FAQ link at the top of this page or call the DIF at 781-938-1984.