YOUR DEPOSITS ARE INSURED IN FULL WITH US

All of your deposits are insured in full at Wakefield Co-operative Bank.  With all of the recent news about troubled banks and the national mortgage crisis, I want to assure you that all of your deposits are safe with us.

The first $250,000 of your deposits per customer is insured by the Federal Deposit Insurance Corporation (FDIC).  All of your deposits beyond the FDIC coverage are covered in full by the Share Insurance Fund of the Co-operative Central Bank.  This fund was created by the Massachusetts Legislature in 1934 solely to protect all deposits held by bank customers of co-operative banks like ours.  The fund is directly supervised by the Massachusetts Divison of Banks.  Click here for more information about deposit insurance.

Wakefield Co-operative Bank is healthy and well capitalized.  We are an independent mutually-owned Community Bank and our commitment is to our customers and our communities.

In fact, we would like to earn more of your hard-earned deposit dollars.  Your deposits are reinvested in your community when we make residential mortgage loans in our local lending area centered in Wakefield and Lynnfield. 

Ralph W. Dunham
President & CEO
Wakefield Co-operative Bank