How to Apply

Securing and Maintaining Coverage

Applying for ESI's excess share insurance is a simple straightforward process. Interested credit unions should first contact the company's Sales and Marketing Department to better understand the underwriting requirements to qualify for coverage.

Various eligibility standards must be met to secure excess coverage and to sustain insurability. Further, limitations exist that are set by regulation and policy with regard to the amount of coverage available to an individual credit union.

Application Requirements

To request Excess Share Insurance, an interested credit union must submit a written application signed by its chief executive officer or board chairman that provides a broad spectrum of information as to the financial and operating condition of the credit union. Current financial statements, as well as those spanning the past three year-ends; delinquent loan listings; copies of core policies; investment reports, etc. are required. Other information may also be requested during the underwriting process.

After conducting a thorough underwriting review of an applicant credit union’s request for Excess Share Insurance, the company’s Vice President of Examination and Insurance will notify the applicant credit union of the company’s decision, as well as the types of accounts subject to the coverage and the amount of coverage afforded each class of covered account and the maximum limits of liability ESI will assume under the subject policy once effectuated.


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Why Offer Excess Share Insurance

  • Accommodate larger deposits
  • Generate liquidity
  • Help grow your share base
  • Credit union exclusive product
  • Give your members extra peace of mind