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What is Deposit Insurance?


FDIC Insurance

The FDIC - short for the Federal Deposit Insurance Corporation - is an independent agency of the United States government. The FDIC protects depositors of insured banks located in the United States against the loss of their deposits if an insured bank fails.
FDIC insurance is backed by the full faith and credit of the United States government. Since the FDIC began operation in 1934, no depositor has ever lost a penny of FDIC-insured deposits.

FDIC insurance covers all types of deposits received at an insured bank, including deposits in a checking account, negotiable order of withdrawal (NOW) account, savings account, money market deposit account (MMDA) or time deposit such as a certificate of deposit (CD). FDIC insurance covers depositors' accounts at each insured bank, dollar-for-dollar, including principal and any accrued interest through the date of the insured bank's closing, up to the insurance limit.

The FDIC does not insure money invested in stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities, even if these investments are purchased at an insured bank. The FDIC does not insure safe deposit boxes or their contents. The FDIC does not insure U.S. Treasury bills, bonds or notes, but these investments are backed by the full faith and credit of the United States government.

The standard deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. Learn more at

DIF: Additional Deposit Insurance

Customers of Massachusetts co-operative banks like Mansfield Bank enjoy peace of mind knowing that their deposits are insured in full. The Federal Deposit Insurance Corporation (FDIC) insures the first $250,000 of "self-directed" retirement accounts and the first $100,000 of deposits in each other ownership category; the (DIF), i.e. the Depositors Insurance Fund insures all deposits above that amount. In March 2020, the Share Insurance Fund (SIF), merged with the Depositors Insurance Fund (DIF). 

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