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Deposit Insurance

Please visit the FDIC and the DIF for more information on deposit insurance.

The DIF is a private, industry-sponsored insurance company. The DIF is not backed by the federal government or the Commonwealth of Massachusetts.

No. All of your deposits at Country Bank are insured automatically.

Country Bank is a state-chartered mutual savings bank incorporated in 1850. Our primary regulator is the Massachusetts Division of Banks.

No depositor has ever lost any money in a bank insured by both the FDIC and the DIF. The DIF has more than $300 million dollars in assets, plus an additional $100 million of reinsurance.

No. While there are other “excess” deposit insuring entities, only Massachusetts chartered savings banks (and one federal savings bank) provide the additional protection of DIF insurance. For additional information visit the DIF website.

Yes. Along with other Massachusetts-chartered Savings Banks, Country Bank is a member of the DIF (Depositor’s Insurance Fund). All deposit amounts above the FDIC limits are fully insured by the DIF.

Deposits at Country Bank are insured by the FDIC (Federal Deposit Insurance Corporation). FDIC is an agency of the federal government.

All types of deposit accounts are insured. This includes personal checking and savings accounts, certificates of deposit, business checking, money market deposit accounts and savings accounts, and retirement certificates of deposit.

Under the FDIC, each depositor is insured to at least $250,000.

For a personalized estimate of your FDIC insurance coverage, please use the FDIC’s Electronic Deposit Insurance Estimator.

Here is a breakdown of the coverage limits:

  • Single Accounts (owned by one person) $250,000 per owner
  • Joint Accounts (two or more persons) $250,000 per co-owner
  • IRAs and certain other retirement accounts $250,000 per owner
  • Trust Accounts $250,000 per owner per beneficiary
  • Subject to specific limitations and requirements

These deposit insurance coverage limits refer to the total of all deposits that an accountholder (or accountholders) has at each FDIC-insured bank. The listing above shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met.

If you have questions about FDIC coverage limits and requirements, please visit my FDIC insurance.
The FDIC also provides a comprehensive description regarding insurance coverage in a section called Understanding Deposit Insurance.

All deposits are insured through the combined coverage of the FDIC (Federal Deposit Insurance Corporation) and the DIF (Depositor’s Insurance Fund). Under the FDIC, each depositor is insured to at least $250,000. As a depositor in this bank, all of your deposits and accrued interest are insured in full without limit or exception. All deposits above the FDIC limit are insured in full by the Depositors Insurance Fund.

There has been a lot in the news lately about deposit insurance and bank safety. This question and answer section is to provide you with useful information about the safety and security of your funds at Country Bank. You can be confident that Country Bank is in a strong financial position and your interests are safe. In fact, the deposits of Country Bank customers are backed by the Federal Deposit Insurance Corporation (FDIC) to the maximum extent allowed by law. Additionally, the Depositors Insurance Fund insures all deposit amounts above FDIC limits in full.

The combination of FDIC and DIF insurance provides Country Bank customers with full deposit insurance on all their deposit accounts. If you need more information or would like to discuss your accounts, please visit any of our branches or contact our Customer Care Center at 800-322-8233.