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Insights Into Massachusetts Deposit Insurance Fund

Friday, November 5, 2010 - 7:05 AM
Massachusetts banks have additional deposit insurance that's on top of the FDIC insurance which allows your entire bank balance to be insured. This extra insurance is through a private insurance fund for MA banks called Deposit Insurance Fund or DIF.

Chris at Jumbo CD Investments has done some research on the history of DIF. He noted that many MA banks lacked FDIC insurance until the 80's and had relied completely on DIF.

Note, there are a few MA banks that have DIF and accept deposits nationwide. However, some readers have noted that one should not consider the protection from DIF as equal to the FDIC protection.
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
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