Member FDIC | Member DIF Deposit Insurance Information

deposits are safe and fully insured
 

Your deposits with Cape Cod 5 are safe and fully insured. 

All deposits at Cape Cod 5 are insured through both the Federal Deposit Insurance Corporation (FDIC), which covers up to $250,000 per depositor, and the Depositors Insurance Fund (DIF), which covers anything in excess of the FDIC-insured amount. This combination of deposit insurance means that all funds that are kept with Cape Cod 5 in deposit accounts are 100% fully insured, regardless of the number of accounts you hold or how your accounts are opened and managed. Simply put, no depositor has ever lost a penny in a bank insured by both the FDIC and the DIF.
Here are some frequently asked questions about FDIC & DIF 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. 

What is DIF Insurance?
DIF is a private, industry-sponsored insurance fund that insures all deposits above Federal Deposit Insurance Corporation (FDIC) limits at our member banks. DIF has been insuring deposits since 1934 and like the FDIC, no depositor has ever lost a single penny of insured funds. 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 fully insured by the Depositors Insurance Fund (DIF).

Which accounts do the FDIC and DIF protect?
FDIC and DIF insurances 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 & DIF insurances do 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 and DIF insurances:
FDIC:   https://www.fdic.gov/deposit/deposits/ 
            https://edie.fdic.gov/

DIF:     https://www.difxs.com/DIF/Home.aspx

For FDIC answers to other frequently asked questions:
https://www.fdic.gov/coronavirus/faq-customer.pdf
 

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