News & Alerts

Current events in the financial industry

In reference to current events in the financial industry, I would like to briefly mention a few items of importance about your relationship with Coastal Heritage Bank.

Please understand that 100% of your deposits with Coastal Heritage are fully insured, above and beyond the FDIC limit of $250,000. This is accomplished through our partnership with the DIF (Depositors Insurance Fund) which covers all deposits in the Bank above the FDIC limit. Since its inception in 1934, no depositor has ever lost a penny in a bank insured by both the FDIC and the DIF.
We are a stable and sound Bank that is well managed with high capital levels, a growing deposit base and solid loan demand.
We have a very rich history of managing the ups and downs of a variety of economic cycles – that’s one of the reasons we have been able to thrive on the South Shore for over 140 years.

For additional information and resources please visit the FDIC and DIF websites.

If you have any questions about the Bank or FDIC/DIF insurance, please feel free to contact us at 800-695-1300. I thank you once again for choosing to bank local with Coastal Heritage Bank.

Coastal Cares

In 2022 Coastal Heritage Bank contributed $125,000 to one-hundred-ten schools, non-profits, community groups, special events and local institutions.

Your Bank, Your Community – Growing Together

Abington Middle School
ARC of the South Shore
Atlantic Symphony Orchestra
Boston Higashi School
Boys & Girls Club of Marshfield
Brant Rock Village Association
BSA – Mayflower Council
Cardinal Cushing Centers
Central Middle School
Choral Arts Society of the South Shore
Church Hill Snowflake Festival
COD Tournament
Cohasset Ctr. Student Coastal Research
Duke Saccardo Scholarship Fund
EB Police & Fire Departments
Evan Henry Foundation
Fontbonne Academy
Friends of MHS Hockey
Friends of Norwell Public Library
Habitat for Humanity Grtr. Plymouth
Hamilton Playground Project
Heading Home
Hingham Nursery School
Hingham Recreation 4th of July Road Race
Holbrook Little League
Interfaith Social Services Backpack Program
Jackson Square Holiday Stroll
James Library & Center for the Arts
Jessica Thurston Memorial Fund
Joshua Glynn Memorial Foundation
Kids Helping Kids With Type 1
Kingston Lions Club
Kingston Boy Scouts #199
Kiwanis Club of Marshfield
Lincoln Hancock Elementary School
Little League of East Bridgewater
MA Audubon Society
Makayla Fund
Manet Community Health Center
Manomet
Marshfield Community Christmas
Marshfield Fair
Marshfield High Grad Nite Live!
Marshfield HS DECA
Marshfield Police Dept.
Marshfield Youth Football
Massasoit Community College Foundation
May Institute
MB Bankers Charitable Foundation
MCRCO
Me Tanner B.
Molly Fitzgerald Memorial Fund
North River Arts Society
Norwell Community Garden
Norwell Cub Scouts
Norwell High Robotics Team
Norwell Little League
Norwell Recreation
Norwell Summerfest 2022
NSRWA
NVNA & Hospice Charitable Fund
Old Colony YMCA
Pan-Mass Challenge
Piccarini Scholarship Fund
Pingree Elementary School
Punch 4 Parkinsons
Quincy Public School Community Partnership
Quincy Youth Baseball & Softball
Rotary Club of Plymouth
Rotary Club of Quincy
Rotary Club of Weymouth
Scituate Animal Shelter
Scituate Arts Association
Scituate FACTS
Scituate Heritage Days
Scituate High School
Scituate High School Ice Hockey
Scituate Little League
Scituate PHRF
Scituate Police Dept.
Scituate Rotary Club
Scituate St. Patrick’s Day Parade
South Shore Charter School
South Shore Children’s Chorus
South Shore Children’s Museum
South Shore Habitat for Humanity
South Shore Health Foundation
South Shore Peer Recovery
South Shore Support Services
St. Mary of the Nativity
St. Mary’s Gala
Trustees of Reservations
Weymouth 4th of July Celebration
Weymouth American Legion #79
Weymouth Cal Ripken Baseball League
Weymouth Food Pantry
Weymouth High Class of 2022
Weymouth High Hall of Fame
Weymouth High Theater Company
Weymouth Holiday Fund
Weymouth HS Varsity Cheer
Weymouth Jr. Basketball League
Weymouth Libraries Foundation
Weymouth Rotary Club
Weymouth Rotary Club
Weymouth Street Hockey
Weymouth Winter Classic
Weymouth Youth Soccer
Wildlands Trust

December 31st, 2022

What the Public Needs to Know About FDIC Deposit Insurance and Crypto Companies

To address certain misrepresentations about FDIC deposit insurance by some crypto companies, the FDIC is issuing an Advisory to FDIC-insured institutions Regarding Deposit Insurance and Dealings with Crypto Companies (FDIC Crypto Advisory).

Additionally, a Fact Sheet on What the Public Needs to Know About FDIC Deposit Insurance and Crypto Companies (Deposit Insurance Fact Sheet) has been posted to FDIC’s website to provide additional information about deposit insurance coverage.

Download Fact Sheet

Beware of Covid-19 Related Scams

Unfortunately, some people may take advantage of COVID-19 by using fraudulent websites, phone calls, emails, and text messages. While claiming to offer “help,” they may be trying to trick people into providing social security numbers, bank account numbers, and other valuable personal information. Do not divulge your bank or credit card numbers or any other personal information over the phone unless you initiated the conversation with the other party and you know that it is a reputable organization.

In addition, you should be cautious about online solicitations. Be on guard against imposters who contact you claiming to be government employees or volunteers and who ask for personal financial information or money. Learn more about how to protect yourself from these scams in the March 2020 edition of Consumer News.

Reject offers to cash a check for someone in exchange for a fee, even if the bank makes the funds available to you right away, as it may later turn out that the check was fraudulent. Read more about fake checks in the August 2019 edition of Consumer News. The Federal Trade Commission (FTC) has additional information at Avoid Coronavirus Scams.

https://www.consumer.ftc.gov/blog/2020/04/new-funding-coronavirus-sba-loans-attracts-scammers

Scams in the name of charity

Scammers are creative, cunning and cruel — and they often mix in a little truth to spice up their big lies. This scheme shows just how low they can go.

Government imposters claiming to be with the FTC, or another agency like the fictitious “Consumer Protection Agency,” are calling to inform people they have won a huge sweepstakes from the Make-a-Wish Foundation, a well-known charity for very sick children. To get the money, the callers say, the “winner” must first pay thousands of dollars to cover taxes or insurance on the prize. The call may even come from a 202 (Washington, DC) area code to appear credible — since the headquarters for the FTC and most federal agencies are in DC.

This is just a scheme using the well-known names of Make-a-Wish and the FTC to rob thousands of dollars from people. Once you wire money or send banking information, you will never see your money again.

Here are a few facts and tips to protect yourself and others:

If someone asks you to wire money or provide your bank account information over the telephone, it’s a scam.
Anytime you have to pay to get a prize, it’s a scam.
The FTC doesn’t oversee sweepstakes and no FTC staff is involved in giving out sweepstakes prizes. We do, however, go after sweepstakes scams.
If an FTC case results in refunds, you can find the details at ftc.gov/redress.
The Make-a-Wish Foundation has information about this specific scam on its fraud alerts page.
If you encounter this or other scams, report it to the FTC at 1-877-FTC-HELP or ftc.gov/complaint.
Talk to your friends and family about scams. Visit FTC.gov/PassItOn to find out how.

Lisa Lake
Consumer Education Specialist
Federal Trade Commission

Grand opening of the newly constructed community playground

Coastal Heritage Bank, along with students, parents, staff, and other local business sponsors, gathered together on Monday morning for the grand opening of the newly constructed community playground at the Governor Winslow School in Marshfield.

The Bank, the lead sponsor of the campaign to build the playground, was happy to support this wonderful grassroots effort.