Depositors Insurance Fund
fully insured deposits down to the last penny.
Your Money's Safe at BankProv
Since 1934, we’ve provided 100% fully insured deposits at no additional cost or complexity to our clients. We’re a member of both the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). The FDIC insures each depositor to at least $250,000, and the DIF insures the rest – down to the last penny!
What is DIF Insurance?
The DIF is a private, industry-sponsored excess insurance fund that insures all deposits above FDIC limits at Massachusetts-chartered savings and co-operative banks. The DIF has been insuring deposits since 1934. All DIF member banks are also members of the FDIC but not all FDIC member banks are DIF banks. Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the DIF.
The combination of FDIC and DIF insurance allows us to provide our customers with full deposit insurance on all their deposit accounts at no additional cost. No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF.