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FDIC and DIF Protection

WSB is a Member FDIC and Member DIF

Benefit from FDIC and DIF Protection

Watertown Savings Bank is proud to be a member of the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). Both organizations insure depositors’ funds against loss. The first $250,000 per depositor is insured by the FDIC. All deposits above the FDIC insurance amount are insured by the DIF.

All types and classes of deposit accounts are covered, including savings accounts, checking accounts, certificates of deposit (CDs), money market deposit accounts, and retirement deposit accounts. Note however that the FDIC and the DIF insure only bank deposits, and do not insure bank mutual funds or annuity products.

The DIF receives financial reports from its member banks on a quarterly basis. In addition, formal examinations are conducted regularly by the FDIC and the Massachusetts Division of Banks. The DIF meets regularly with officials of both agencies to review and evaluate the condition of its member banks.

Learn more about FDIC:

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Sources:

Depositors Insurance Fund (DIF) http://www.difxs.com/   
Federal Deposit Insurance Corporation (FDIC): https://www.fdic.gov/deposit/insurance/

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