CAPE COD COOPERATIVE BANK is a member of the Federal Deposit Insurance Corporation (FDIC) and the Share Insurance Fund (SIF). The FDIC insures each depositor to at least $250,000 and SIF insures all additional deposits.
Because your deposits are fully insured as outlined above, Cape Cod Cooperative Bank has opted out of the FDIC Transaction Account Guarantee Program (TAGP) effective January 1, 2010. All noninterest-bearing transaction accounts will no longer be guaranteed in full under that program.
Coverage under the TAGP is separate from the coverage available under the FDIC’s general deposit insurance rules and offered to those banks that do not have the SIF coverage option.