The Coop becomes member of DIF

The Cooperative Bank of Cape Cod is pleased to announce it is apart of the Depositors Insurance Fund, also known as DIF.

On March 17, 2020, The Co-operative Central Bank (CCB) and its Share Insurance Fund (SIF) were merged into the Depositors Insurance Fund (DIF).  As a result of this merger, all co-operative banks became members of the DIF.  The deposit insurance coverage for amounts above the FDIC limit will now be provided by the DIF.

Importantly, 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 will now be insured by the DIF.  This merger will benefit depositors by creating a deposit insurance fund with greater resources to protect deposits in member banks.

Like the CCB, the DIF has 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, please visit the DIF’s website at or call the DIF at 781-938-1984.

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