Your credit union is pleased to provide each of your depository accounts with $250,000 of protection through American Share Insurance (ASI), the nation's largest private insurer of credit union savings.
Also, the board of directors of your credit union has chosen to acquire additional coverage from Excess Share Insurance Corporation (ESI) for account balances exceeding $250,000. This extended level of protection provides an additional $250,000, meaning that each reported account in the credit union is protected up to $500,000...the highest limit of savings protection available to credit union members.
There is no limit to the number of accounts you may have with your credit union and still maintain this extra measure of protection. Excess coverage is specifically designed to free you from concern about the nature and extent of insurance on your savings account balances.
ASI is a credit union-owned, mutual share guaranty corporation, and has insured savings of credit union members since 1974. ASI is the largest non-federal insurer of deposits.
ASI operates as a business partner with your credit union to assure that member needs are met in a safe and sound manner. It routinely monitors and examines your credit union and, as a licensed share guaranty corporation, is subject to an annual statutory examination by the Ohio Division of Financial Institutions.
ASI's primary share insurance program is available only to state-chartered credit unions, whereas both federally and state-chartered credit unions may apply for excess share insurance.
Excess Share Insurance Corporation is a property and casualty insurance company solely owned by American Share Insurance, licensed by the Ohio Department of Insurance, and is approved to operate in this state by the department of insurance.
Excess coverage is particularly unique to the credit union industry. Only credit unions meeting the highest standards are eligible for this extended protection. This insurance can be terminated by either the credit union or by ESI; however, you must be notified in writing of any change in the insured status of your accounts.
5656 Frantz Road, Dublin, Ohio 43017 800-521-6342
American Share Insurance is not a federal or state government agency. Members' accounts are not insured or guaranteed by any government or government sponsored agency.
This institution is not federally insured.
If you are uncertain about either the nature or the amount of your savings insurance protection, please contact us. You are also welcome to contact either ASI or ESI directly.
