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Your Deposits are Insured in Full
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Dear Reading Co-operative Bank Depositors,
Did you know your Deposits at Reading Co-operative Bank are Insured in Full?
In
these tough economic times, I want to take a moment and reassure you
that all customer deposits, whether your account balance is $10.00 or
greater than $500,000.00, with Reading Co-operative Bank are safe,
secure and fully insured at all times.
First and
foremost, the FDIC insures at least $100,000 per account holder and up
to $250,000 in self directed retirement accounts. The
Savings Insurance Fund insures all deposits at Reading Co-operative
Bank above the FDIC insured limit.
As a state chartered
co-operative bank in Massachusetts Reading Co-operative Bank provides
deposit insurance on every dollar that exceeds the FDIC insured limit
through the Share Insurance Fund (SIF) of the Co-operative Central
Bank. This includes both the principal balance of the account and
any accumulated interest in your accounts.
The Share Insurance
Funds was created in 1934 and since its inception has preserved the
deposits of all its Co-operative Bank customers. For more
information about the Co-operative Central Bank go to www.cooperativecentralbank.com or click here to obtain a copy of Reading Co-operative Bank’s certificate of good standing issued by the Co-operative Central Bank.
Reading
Co-operative Bank, incorporated in 1886 continues to receive the Bauer
5 Star rating for 67 consecutive quarter running. We continue to
operate a safe, sound and conservative financial institution meeting
the needs of Reading and its surrounding communities.
Very truly yours, 
Julieann M. Thurlow
President
& CEO
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