Annual Report 2024

Deposit Safety FDIC&DIF Insurance Your deposits at Greenfield Cooperative Bank benefit from a two-tiered insurance system, ensuring full protection for your hard-earned money. In addition to the standard Federal Deposit Insurance Corporation (FDIC) coverage, deposits in excess of the FDIC coverage limit are insured by the Depositors Insurance Fund (DIF). Federal Deposit Insurance Corporation (FDIC) This independent U.S. government agency protects your deposits up to $250,000 in the event of a bank failure. The FDIC plays a vital role in maintaining public confidence and stability in the banking system by insuring deposits and supervising banks. You can find additional information by visiting the FDIC website. Depositors Insurance Fund (DIF) In addition to FDIC coverage, depositor balances in excess of $250,000 at Greenfield Co-op are insured in full by the DIF. Established in 1932 by the Massachusetts legislature, the DIF is a private, industry-sponsored excess deposit insurance company. The DIF provides an extra layer of security by insuring deposits exceeding the FDIC limits for its member banks. This combined FDIC and DIF insurance offers superior protection for your funds, exceeding the standard safety net provided by the FDIC alone. “At Greenfield Co-op, your financial security is our top priority. That’s why your deposits are insured by both the FDIC and the DIF. This two-tiered system offers an extra layer of protection for your hard-earned money, exceeding the standard coverage and providing you with ultimate peace of mind.” - Tony Worden, President & CEO