Consumer Overview

About Share Insurance

Unlike banks and thrifts, credit union member deposits are insured up to $250,000 by the National Credit Union Administration (NCUA), an agency of the federal government, or by American Mutual Share Insurance Corporation (ASI), a private deposit insurance fund that operates in nine states. To learn more about American Share, click here. In the information that follows, credit unions insured by the NCUA are referred to as “federally insured” and credit unions insured by American Share are referred to as “privately insured.”

In general, the coverage provided members of federally insured credit unions is $250,000 per member, irrespective of how many accounts each member holds with a specific credit union; whereas, each account of a member at a privately insured credit union is insured to $250,000 -- irrespective of the number of accounts each member has with that privately insured credit union. This is one advantage of a credit union being privately insured.

The following example explains the amount of additional share insurance protection ESI can provide members of federally insured credit unions. 

  • All individual share, share draft and share certificates of deposit accounts held by the same member are added together and insured up to the $250,000 by the NCUA and an additional $250,000 by ESI, for a total of $500,000. An individual share account is an account owned by one individual without the right of withdrawal by others. Individual accounts are insured separately from IRA and joint accounts.
  • All joint accounts held by the same member are added together and insured up to the $250,000 by the NCUA and an additional $250,000 by ESI, for a total of $500,000. Joint accounts are insured separately from individual and IRA accounts.
  • All IRA accounts held by the same member are added together and insured up to the $250,000 by the NCUA and an additional $250,000 by ESI, for a total of $500,000. IRA accounts are insured separately from individual and joint accounts.

* ESI’s coverage may be less than $250,000 and be limited to certain account types. Please contact your credit union to determine the exact nature and extent of the coverage available from your credit union’s primary insurer and ESI.

Proven performance and policy specifics

Our success can be attributed to thorough underwriting and risk management policies. We are selective as to who we insure, and not all credit unions that apply for coverage are accepted due to ESI’s strict underwriting standards. Furthermore, we examine our credit unions regularly to ensure continued safety and soundness. Also, ESI’s insurance policy requires that every quarter the credit union submit financial statements and a listing of accounts eligible for excess coverage in order to continue coverage. Please feel free to contact us to confirm that your account has been reported.

Individual policies are not provided to members and there is no direct cost to you for this coverage. The credit union or ESI may terminate or modify this coverage, but in either case you would be notified in writing of any change in the excess coverage. It is important to note that excess deposit insurance is payable only upon the failure and liquidation of the credit union.

Financially sound and regulated
  • The majority of ESI’s assets are held in cash and US Government-guaranteed bonds and US Treasury securities. ESI does not hold the types of investments that plagued many financial institutions and investment firms in recent years.
  • ESI is licensed and regulated by the Ohio Department of Insurance. ESI has licensures in 32 other state jurisdictions.
  • The Ohio Department of Insurance conducts a cyclical statutory examination of ESI; a "big four" accounting firm annually certifies the company's financial statements; and, an independent actuary opines each year as to the sufficiency of the company's reserves.
  • ESI has always been, and continues to be, in good standing with the various insurance departments in all of our states of operation.

ESI's rating

ESI is not assigned an insurance industry rating by A.M. Best. Financial data and other information are supplied to rating services annually for their review and analysis. Our audited financial statements are available upon request from your credit union or ESI.


Contact Us for more information.



Security When You Need It

Don’t believe you’ll ever need the benefit of excess share insurance? You might be surprised. Your deposits can go up very suddenly — in the case of inheritance, for example, or the sale of a home or business.