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Fully Insured Deposits

One of the key benefits customers receive when banking with Dedham Savings is full deposit insurance coverage, through our combined FDIC and DIF insurance. This combined coverage means deposits are insured in full up to any amount.

So how does it work and what’s the DIF?

Dedham Savings is insured by both the FDIC (Federal Deposit Insurance Corporation) and by the DIF (Depositors Insurance Fund). By combining the FDIC primary insurance with the DIF excess deposit insurance, we provide full insurance on all deposits, no matter the balance.

The DIF is a private insurance fund that insures all deposits above FDIC limits at member banks like Dedham Savings. Each deposit is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amounts are insured by the DIF. The combination of FDIC and DIF insurance provides customers of member banks with full deposit insurance on all their deposit accounts.

What does this mean for customers?

  • Deposits Insured in Full: Because Dedham Savings is a member of both FDIC and DIF, 100% of deposits are insured in full regardless of balance for personal, business, non-profit, and government accounts.
  • All Deposits Covered: Whether you have checking accounts, savings accounts, CDs, money market deposit accounts, or IRA deposit accounts, your accounts are insured in full.

If you or someone you know has been banking at an institution that doesn’t offer this full deposit insurance coverage, now is the time to switch your accounts to Dedham Savings, where you’ll have peace of mind knowing your deposits are safely insured up to any amount.

Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount.

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