Want to protect 100% of your money?
Book a Call with Deb
Talk directly with a branch manager to answer any questions you may have regarding the DIF and the security of your funds.
Bank with confidence at a DIF member bank where your deposits are insured in full.
So do we.
WTH is DIF?
Depositors Insurance Fund (DIF) is a private insurance fund that insures all deposits above the $250,000 Federal Deposit Insurance Corporation (FDIC) limits.
The combination of FDIC and DIF insurance provides customers with 100% 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.
The RCB DIFference
Reading Cooperative Bank offers 100% deposit insurance to all customers through both FDIC and DIF. That means we don't take chances with your hard-earned money.
At RCB, you have a voice—and you matter. Our bank isn't owned by stockholders. It's owned by customers who have their money here. So you, our employees, and the community always have a say in how things are run. We don't have to answer to outsiders who don't understand what the people and business owners of Massachusetts need. We only answer to you.
The bank's focus on inclusivity is evident in its support for underbanked and unbanked individuals, small businesses, and entrepreneurs, offering low-cost checking and savings accounts and financial education programs.
Still have questions?
We have answers.
Are all banks covered by DIF?
No, DIF insurance is only available to a select number of Massachusetts banks that meet specific criteria, such as maintaining financial stability and adhering to strict regulatory requirements. See the full list of members here.
Who qualifies for DIF insurance?
Any deposit owner is eligible for DIF insurance.
Which accounts are covered by DIF insurance?
DIF insures all types of deposit accounts held in member banks, including checking, savings, CDs, money market accounts, and certain retirement accounts in Massachusetts.
How does DIF insurance differ from FDIC insurance?
DIF insurance provides coverage for the full amount of deposits, offering greater peace of mind to depositors and promoting stability in the Massachusetts banking system.
Making the switch is as easy as...
Open a New Account
Transitioning from one bank to another is easy and only takes a few minutes to set up. Start by opening a new secure account with RCB by clicking the button below.
Transfer Funds & Payments
Transfer any funds from your old account into the new RCB account. Don't forget to review any automatic payments or direct deposits set up with your old account and transfer those as well.
Close the Old Account
Once everything has been set up in the new RCB account, close out your old account to avoid any unnecessary fees.
Need help? We're happy to assist you each step of the way.
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