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Depositors Insurance Fund - Wikipedia The Depositors Insurance Fund is a deposit insurance scheme that protects depositors at member savings banks in Massachusetts It was created in 1934 [1] by the state government of Massachusetts in response to the large number of Massachusetts bank failures during the Great Depression of the 1930s
What Is DIF Insurance (Massachusetts Depositors Insurance Fund) - How . . . A Massachusetts Depositors Insurance Fund bank is any savings bank chartered in Massachusetts DIF protects all Massachusetts-chartered savings bank deposits that aren’t protected by FDIC insurance, which is any amount deposited in excess of the FDIC’s $250,000 per account limit
What Is The Depositors Insurance Fund (DIF)? The Depositors Insurance Fund was one of the first precursors to the FDIC It was established in 1932 to protect depositors in Massachusetts in the event of a bank run Today, DIF is a type of deposit insurance that protects balances above $250,000
Resources Depositors Insurance Fund - South Shore Bank All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF) The DIF is a private, industry-sponsored excess deposit insurance company Created by a special act of the Massachusetts legislature in 1932, the DIF began operations as a primary insurer in 1934
How Your Deposits Are 100% Protected - Florence Bank We do this by obtaining and extending deposit insurance to our customers through the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF) DIF is Massachusetts-based deposit insurance and strictly for Massachusetts Savings Banks
Deposit Insurance All deposits above the FDIC limit are insured in full by the Depositor's Insurance Fund The combination of FDIC and DIF insurance provides customers of Massachusetts-chartered savings banks with full deposit insurance on all their deposit accounts