deposits are safe and fully insured

Your deposits with Cape Cod 5 are insured and backed by the financial stability of an institution that has been around
for over 167 years.

All deposits at Cape Cod 5 are insured through the Federal Deposit Insurance Corporation (FDIC), which covers up to $250,000 per depositor.
Learn more about FDIC Insurance:

What is FDIC Insurance?
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects depositors against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, no depositor has ever lost a single penny of FDIC insured funds. 

Which accounts does FDIC insurance cover?
FDIC insurance cover funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit (CDs). Coverage is automatically applied to all accounts; depositors do not need to apply for these insurances.

What is not covered by deposit insurance? 
FDIC insurance does not cover other financial products and services that banks may offer, such as stocks, bonds, mutual funds, life insurance policies, annuities or securities.

For additional information on FDIC insurance:



Given our continued growth and strong financial position, Cape Cod 5 is required to exit the Depositors Insurance Fund (DIF). Effective December 15, 2022, Cape Cod 5 will no longer be a DIF member.

Read below to learn more about this and what it means for you.

What is DIF?
DIF is a private, industry-sponsored insurance fund that insures all deposits above Federal Deposit Insurance Corporation (FDIC) limits at its member banks, all of which are based in Massachusetts. DIF has been insuring deposits since 1934. All DIF member banks are also members of the FDIC. Each depositor is insured by the FDIC up to at least $250,000, all deposits above the FDIC insurance amount are covered by DIF for member banks. 
Why is Cape Cod 5 exiting DIF?
Cape Cod 5’s substantial deposit growth has caused the Bank to reach and exceed the maximum deposit level allowed by DIF for member banks. This is the result of sustained growth, thanks to the trust that our customers have placed in us. 
When will the DIF coverage on my account(s) end?
  • Cape Cod 5 will officially be exiting DIF on December 15, 2022. Accounts opened on or after this date will not be covered by DIF insurance.
  • All money in checking, savings and money market accounts at Cape Cod 5 as of December 15, 2022 will remain covered by DIF insurance for one full year, until December 15, 2023 (the "grace period"). If additional funds are added to existing checking, savings or money market accounts during the grace period, they will not be insured by DIF.
  • Certificates of Deposit (CDs) opened on or before December 15, 2022 will continue to be insured by DIF until maturity.
Which accounts does DIF cover?
DIF insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit (CDs). For customers of member banks, coverage is automatically applied to all accounts; depositors do not need to apply for the insurance. 
Does this mean my deposits with Cape Cod 5 are no longer insured?
Deposits held with Cape Cod 5 in a checking, savings, money market account or CD will continue to be covered by the FDIC up to $250,000 per depositor.  


I have deposits that exceed $250,000 with Cape Cod 5. Is there anything I can do to obtain insurance coverage for them?
There may be options available to restructure your deposits into different ownership groups (such as joint, individual or retirement) to qualify for additional insurance. If you have any questions, please call 508-247-2100 (Monday through Friday from 9:00 a.m. to 5:00 p.m.) or visit a Cape Cod 5 Banking Center to discuss how to maximize your FDIC insurance coverage. 
Should I be concerned about the financial strength and stability of the Bank?
No. In fact, it is because of our financial strength that we are required to exit DIF. All Massachusetts banks that have reached the same asset threshold as Cape Cod 5 are not DIF insured. Further, Cape Cod 5 has been around since 1855 and our commitment to our mission of serving our customers and communities has remained the same since then. 
Cape Cod 5 has also received the “Superior” 5-star rating by Bauer Financial for over 30 years. Bauer rates and recommends financial institutions based on their financial data and performance. For more information, visit the Bauer Financial website. 
Does this change anything else about my relationship with Cape Cod 5?
No. Nothing else will change as a result of this. 
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