At Canton Co-operative Bank, your deposits are 100% insured – here’s how that works

Your deposits at Canton Co-operative Bank are 100% insured by the FDIC and the DIF.

In the Frequently Asked Questions section of the FDIC web site, it says: “The FDIC – Federal Deposit Insurance Corporation – is an independent agency of the United State Government that protects you against the loss of your insured deposits if an FDIC-insured bank fails. FDIC insurance is backed by the full faith & credit of the United States government.”

Coronavirus update: Massachusetts Attorney General urges citizens to be extra-vigilant to avoid Coronavirus-related scams

Attorneys General across the country are issuing warnings to their state residents to be on high-alert for a surge in scams and frauds related to the unprecedented fear and confusion that has been brought about by the Coronavirus.

Smart About Money: Gift cards are “real money”

It’s all too easy to lose track of the reality that gift cards are cash equivalents. A skeptical consumer might wonder if the companies like it that way. After all, every gift card that’s not fully redeemed is “free money” for them. Gift cards that aren’t redeemed at all are obviously even better.

Smart About Money: “But I haven’t really thought about it …”

A personal finance blogger recently wrote a post encouraging his readers to beware of financial “experts” offering “contrarian advice.”

His point was that there are a lot of people out there trying to make a name for themselves – and, hopefully, get rich – by becoming financial gurus.

Some Home Equity Line of Credit borrowers are surprised by this question …

According to Canton Co-operative VP/Senior Loan Officer Anabela Vargas, “We obviously always ask borrowers a lot of questions, including how much they think they’ll need. Some are surprised by one particular follow-up question.”

Smart About Money: Should you make yourself balance your checking account every month?

A lot of people never balance their checking accounts. They have various reasons that mostly all boil down to the fact that they think it’s a chore it’s okay to ignore.

Online banking has made it easier to feel that way. People will say they keep an eye on their account online and that’s fine for them.

If you don’t balance your checking account, please at least do this

With so many online & mobile payments and debit card/ATM transactions, it has gotten more complicated to keep track of what’s going through your checking account. But keeping an eye on your account is very important.

And we have the tools available to help you manage your account. Text alerts, Online Banking and Mobile Banking, telephone banking and even secure emails are all great options. If none of those work for you, you can always call or come see us during business hours at Canton Co-operative and speak directly to one of our Customer Service people.