All deposits at Needham Bank are insured in full through the combined coverage provided by the Federal Deposit Insurance Fund (FDIC) and the Depositors Insurance Fund (DIF). Deposits are covered by the FDIC up to $250,000 per depositor, while amounts over $250,000 are covered by the Depositors Insurance Fund.
DIF is an added benefit we provide to all customers at no cost on all of their deposit accounts. No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF.
We’ve been made aware of fraudsters impersonating Needham Bank asking customers to verify fake transactions. The fraudsters will ask if you’ve made purchases at major retailers, withdrawn money from an ATM, or if you are traveling. Needham Bank will NEVER ask for your banking credentials or full debit card number via a phone call, email, or text message.
If you’ve received an inquiry of this nature and provided information, please contact our Customer Care Center at 781-444-2100.