Rest easy knowing your deposits are safe, secure and fully insured at BankGloucester
Given the news this past weekend regarding Silicon Valley Bank, we understand that there may be some heightened anxiety regarding the banking industry. We want to assure you that as a BankGloucester customer, you have nothing to worry about.
What You Need to Know
- Your deposits are insured in full regardless of the balance amount. Balances up to $250k are insured by the FDIC, and any amount exceeding that limit is fully covered by the Massachusetts Depositors Insurance Fund (DIF). Click here to learn more about deposit insurance.
- Since 1887, BankGloucester has been serving the financial needs of our customers and our community, and we have weathered countless business cycles.
- Our assets and deposits are well diversified, as we do not have concentrations in any industry, or investment type.
Do I Need to Do Anything?
No. Deposit Insurance is automatically applied to all BankGloucester deposits when you open the account. As long as your funds are in your account, they are fully secure. No depositor has ever lost a penny while insured by both the FDIC and the DIF.
What if I Have Questions?
The safety of your deposits is our highest priority. If you have any questions, please reach out to us at by email at info@bankgloucester.com, by phone 978-283-8200, or by stopping at any BankGloucester branch.
Thank you for choosing BankGloucester and for your continued loyalty.
