Effective January 1, 2010, Mechanics Cooperative Bank will no longer participate in the Transaction Account Guarantee (TAG) Program. Therefore any funds held in non-interest-bearing transaction accounts will no longer be guaranteed in full by this program. These funds will continue to be insured up to $250,000 under the FDIC’s general deposit insurance rules.

Mechanics Cooperative Bank is a proud member of the Share Insurance Fund. The Share Insurance Fund insures all deposits in Massachusetts co-operative banks above the Federal Deposit Insurance Corporation (FDIC) limit of $250,000.