Deposits at The Coop are 100% insured
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Deposits at The Cooperative Bank of Cape Cod are 100% insured in full.

FDIC DIF decal

Safety and Security. By combining FDIC primary insurance and DIF excess deposit insurance, we are able to provide our depositors full insurance on all deposits, no matter the balance.

The Coop is a member of both the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF), which means 100% of your deposit balances are insured in full.

The DIF is a Massachusetts-based fund that covers savings and co-operative banks in Massachusetts, including The Cooperative Bank of Cape Cod. And, if you summer here, are a year-rounder, or live out of the area but enjoy The Coop’s friendly service, rest easy knowing your deposits are fully covered!

The Coop is a member of both the FDIC and DIF. What does that mean for me?

  • Deposits Insured in Full – By being a member of both the FDIC and DIF, 100% of deposits are insured in full regardless of balance for personal, business, non-profit, and government accounts at The Cooperative Bank of Cape Cod.
  • All Deposit Accounts Are Covered – Whether you have checking accounts, savings accounts, certificates of deposit (CDs), money market deposit accounts, or retirement deposit accounts (IRAs), your accounts are insured in full.
  • No Enrollment Necessary – As a depositor at The Coop, your coverage begins as soon as you open a deposit account and there are no applications, forms, or any paperwork involved.
  • No Cost or Fees – This is a perk for depositors with us, and we’ve got every one of your pennies covered.
  • Peace of Mind – No depositor has ever lost a penny in a bank insured by both the FDIC and DIF.

Our Customer Assistance Center is here for you at 508.568.3400, and to answer any questions about deposit coverage.

Learn More about FDIC  Learn More about DIF


Frequently Asked Questions about DIF

    • My bank displays both the FDIC and DIF logos. What does membership in these organizations mean?

As a member of both the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF), The Coop provides full insurance for our clients’ deposits and accrued interest without limit or exception. Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).

    • Are all types of deposit accounts fully insured in a bank providing both FDIC and DIF insurance?

Yes. All types and classes of deposit accounts, both personal and business, are covered including savings accounts, checking and NOW accounts, certificates of deposit (CDs), money market deposit accounts, and retirement deposit accounts.

    • Does the DIF insure investments in bank mutual funds or annuities?

No. Both the FDIC and the DIF insure only bank deposits, and do not insure bank mutual funds or annuity products.

    • How financially strong is the DIF?

No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF. The DIF has approximately $500 million in assets. During the recession of the early 1990s, the worst financial period in the history of the Massachusetts savings bank industry, the DIF paid out more than $50 million to protect over 6,500 depositors in 19 failed member banks. Yet the DIF emerged from this period financially stronger than before the recession began.

    • Is the DIF a federal or state agency?

No. The DIF is a private, industry-sponsored insurance company and is not backed by the federal government or the Commonwealth of Massachusetts.

    • How are the assets of the DIF invested?

Massachusetts law and the DIF’s investment policies restrict the DIF to investments suitable for an organization that insures the public’s deposits, primarily U.S. Treasury and federal agency obligations, and obligations fully guaranteed by the U.S. government. DIF investments are regularly reviewed by its Board of Directors to assure conformity with both the law and DIF investment policies. As a depositor with The Coop, all your deposits and accrued interest are insured in full, without limit or exception.

    • Does the DIF monitor the financial condition of its member banks?

The DIF receives financial reports from its member banks on a quarterly basis. In addition, formal examinations are
conducted regularly by the FDIC and the Massachusetts Division of Banks. The DIF meets regularly with officials of
both agencies to review and evaluate the condition of its member banks.

    • Is the DIF subject to any form of regulatory scrutiny?

Yes. The DIF is examined annually by the Massachusetts Division of Banks and audited by an independent auditor.