Do all banks offer FDIC and DIF insurance coverage?
No. While there are other insuring entities, only Massachusetts chartered savings banks offer the additional protection of DIF insurance. Has any depositor ever lost money in an FDIC/DIF bank? No. The FDIC has always paid deposits in full up to its insurance limit. The DIF has always paid all deposits in excess of the FDIC’s limit. No depositor has ever lost a penny in an FDIC/DIF member bank since either fund was established. Does the FDIC or the DIF insure investments in bank mutual funds? No. Both FDIC and DIF insurance only cover deposits, and do not extend to bank mutual fund investments. For additional information, please call FDIC at (781) 794-5500 or DIF at (781) 938-1984.
