Over the past few days, we have been hearing about the financial collapse of the Silicon Valley Bank (SVB). I want to ensure all our customers, with personal and/or business accounts that ALL your money on deposit at The Cooperative Bank (TCB) is safe. When I say all, I mean all – not just the first $250,000.

The Cooperative Bank has been a long-time member of the Depositor Insurance Fund (DIF). As a member of both the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF), TCB provides full insurance for its customers' deposits without limit or exception.

DIF insurance is available only on deposits in Massachusetts-chartered savings and co-operative banks. By combining FDIC primary insurance and DIF excess deposit insurance, TCB provides all depositors with full insurance.

It’s important to note that not all banks have excess insurance. I encourage you to ask your other financial institutions if they carry excess insurance. No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF. 

Here are some frequently asked questions about Depositor Insurance Fund (DIF):

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

A: 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.

Q: Are there any forms, applications, or special account titles required to receive full deposit insurance?

A: No. There are no forms, applications, or special account title requirements. Full deposit insurance protection works simply. You automatically receive this added insurance benefit when you make any deposit at a DIF member bank at no cost to you. 

To learn more about DIF Insurance, please visit:www.difxs.com

If you have any questions about your accounts please contact any of our branches or our Management Team and we will be happy to discuss. 

Thank you for being a valued customer of The Cooperative Bank.

John Battaglia

President & CEO

The Cooperative Bank


Tom Coots, AVP

Branch Manager



Janet Galloway

Branch Manager

Jamaica Plain


Khepra Moscillo, AVP

Branch Manager



Brunna Cunha

Branch Manger

West Roxbury


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