At Charles River Bank, every deposit is insured in full.
Each depositor is insured by the Federal Deposit Insurance Corporation (FDIC) to at least $250,000. All deposits above this amount are covered by the Depositors Insurance Fund (DIF). There are no maximum account limitations or amount limitations.
Since the DIF began insuring deposits in 1934, no depositor has ever lost a penny in a bank insured by both the FDIC and DIF.
In March 2020, the Share Insurance Fund which insured deposits in Massachusetts-chartered co-operative Banks merged into the Depositors Insurance Fund which insures deposits in Massachusetts-chartered savings banks. The combined Depositors Insurance Fund now insures all deposits over the amounts covered by the FDIC in Massachusetts-chartered savings and co-operative banks.