Watertown Savings Bank is proud to be a member of the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). This means that all WSB customers' deposits are insured in full. Regardless of the number of accounts or the total funds, Watertown Savings Bank's deposits are safe and secure. Enjoy an extra layer of security peace of mind knowing that all of your deposits are insured thanks to WSB's membership in DIF.
Not many banks qualify for DIF Insurance. In fact, many local banks recently acquired by larger banks are no longer eligible to offer DIF Insurance.
All types of bank deposit accounts are covered, including savings accounts, checking accounts, certificates of deposit (CDs), money market deposit accounts, and retirement deposit accounts. The first $250,000 per depositor is insured by FDIC. All deposits above the FDIC insurance limits are insured by DIF.
"No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF." source: Depositors Insurance Fund
Both FDIC and DIF take precaution in monitoring their Bank Members' financial health. Formal examinations are conducted by the FDIC and the Massachusetts Division of Banks and the DIF evaluates its members' financial reports regularly.
As a customer of Watertown Savings Bank, you can feel confident banking with us and we thank you for trusting us with your hard-earned funds.
Sources:
Depositors Insurance Fund (DIF)
Federal Deposit Insurance Corporation (FDIC)
The Bank does not endorse or guarantee the products, information, or recommendations provided by linked sites and the Bank is not liable for any products or services advertised on these sites.
Each third party may have a privacy policy that differs from the Bank.
Any linked site may provide less security than the Bank's website.