DIF

100% insured deposits.

Your Money is Safe at BankProv

Since 1934, we have 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 DIF insures the rest – down to the last penny!


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What is DIF Insurance?

The DIF is a private, industry-sponsored insurance fund that insures all deposits above FDIC limits at Massachusetts-chartered savings banks. The DIF has been insuring deposits since 1934. All DIF member banks are also members of the FDIC. 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 provides customers of Massachusetts-chartered savings banks with full deposit insurance on all their deposit accounts. No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF.

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