FDIC Insurance

Keeping your funds safe and secure

As a member of the Federal Deposit Insurance Corporation (FDIC), Brookline Bank provides deposit insurance for all of our depositors. 

All depositors receive FDIC coverage for interest-bearing deposits of up to $250,000. Separately, with the passage of the Dodd-Frank Act, depositors receive unlimited FDIC coverage for deposits in noninterest-bearing accounts, through December 31, 2012. 

If you have more than $250,000 deposited with us in interest-bearing accounts, you may still qualify for FDIC coverage in excess of $250,000, based on the ownership category and the type of accounts you own.

For example, a customer who owns interest-bearing checking accounts, savings accounts, money market deposit accounts or CDs titled in his or her own name as single owner (the single account category) will receive a maximum FDIC coverage of $250,000 for all of these account balances added together. But if that same customer also has interest-bearing checking accounts, savings accounts, money market deposit accounts or CDs jointly owned and titled with one or more other individuals (the joint account category), each joint owner could receive an additional $250,000 of insurance for the funds held in the joint accounts.

Also, certain retirement accounts such as Individual Retirement Accounts (IRAs), are insured separately from other account categories up to $250,000 per depositor per insured bank, under the FDIC's normal coverage limits.

If you are interested in finding out more about how your funds are insured, our branch staff is trained to assist you in receiving the maximum FDIC insurance coverage. In addition, the FDIC has an easy-to-use online calculator -- EDIE -- that can help you maximize your FDIC insurance. This site also includes much more information about FDIC insurance, including any recent changes to deposit insurance regulations.