Member FDIC and Member DIF

How your Deposits are Insured?

Thanks to a combination of deposit insurance safeguards, each depositor at Salem Five Cents Savings Bank, whether using a physical branch office, or, is fully insured, regardless of the number of accounts or the total funds on deposit.

It works like this: The Federal Deposit Insurance Corporation (FDIC) now insures each depositor, for each ownership category, up to $250,000.

Deposits at Salem Five in excess of the standard insurance amounts provided by the FDIC are covered by the Depositors Insurance Fund (DIF). The DIF is a private, industry-sponsored insurance fund that insures all deposits above FDIC limits at Massachusetts-chartered savings banks. The DIF was established by the Massachusetts legislature in 1932 and has been insuring deposits since 1934. No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF.

The result? Your deposits at Salem Five are completely protected – without limitation.

To learn more about the Federal Deposit Insurance Corporation or understand if your specific accounts are covered, use the FDIC Electronic Deposit Insurance Estimator tool (EDIE) at


Deposit Insurance Coverage (FDIC)

The FDIC insures all deposits.

Watch the video to learn more about how the FDIC insures all deposits, including checking, NOW and savings accounts, money market deposit accounts, and certificates of deposit (CDs), up to the insurance limit.

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