Your deposits at Canton Co-operative Bank are 100% insured by the FDIC and the DIF.
In the Frequently Asked Questions section of the FDIC web site, it says: “The FDIC – Federal Deposit Insurance Corporation – is an independent agency of the United State Government that protects you against the loss of your insured deposits if an FDIC-insured bank fails. FDIC insurance is backed by the full faith & credit of the United States government.”
At Canton Co-operative Bank, each depositor is insured by the FDIC to at least $250,000.
In addition, all deposits at Canton Co-operative above the FDIC insurance amount are insured by the DIF – the Depositors Insurance Fund – an historically-strong private insurance fund available only to Massachusetts savings and co-operative banks. The combination of FDIC and DIF insurance provides customers with full deposit insurance on all their deposit accounts. No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF.
So you have three lines of protection at Canton Co-operative Bank.
First, Canton Co-operative is consistently rated 5-Star Superior as “one of the strongest banks in the country – demonstrating the epitome of safety & soundness,” according to independent bank rating firm BauerFinancial. Canton Co-operative has been a stable, safe, conservatively-managed, local independent bank since 1891.
And your deposits here are also protected by deposit insurance from the FDIC and the DIF.
If you have questions or concerns in these most difficult and confusing days, please call us at 781-828-8811. We will be happy to answer all your questions and hopefully help set your mind at ease. We are truly all in this together.
Canton Co-operative Bank has been Canton’s hometown bank since 1891 and is rated “5-Star for Strength & Stability” as “one of the strongest banks in the country,” according to bank-rating service BauerFinancial of Coral Gables, Florida. All deposits are insured by the FDIC and the Depositors Insurance Fund (DIF). The phone number is 781-828-8811. Canton Co-operative Bank is an Equal Housing Lender. NMLS #721437