What is Shared Insurance Coverage?
Through a combination of $250,000 of primary insurance from American Share Insurance (ASI) and $250,000 of excess insurance from Excess Share Insurance (ESI), your deposit accounts are insured up to $500,000.
The best part of this private insurance coverage, as opposed to federal insurance coverage, is that each individual account you have at Staley Credit Union is covered up to $500,000! No need to spread out your deposits over multiple financial institutions when you can be confident that all of your deposits are safely insured at one financial institution.
For instance, you may have a savings (regular share) account, a checking (share draft) account, a money market account and multiple certificates of deposit (share certificates) here at Staley Credit Union and each individual account would be insured up to $500,000!
There is no limit to the number of accounts you can have to maintain this level of coverage!
| Savings (shares) | $500,000 | $500,000 |
| Checking (share drafts) | $500,000 | $500,000 |
| Money Market | $500,000 | $500,000 |
| Share Certificate #1 | $500,000 | $500,000 |
| Share Certificate #2 | $500,000 | $500,000 |
About American Share Insurance (ASI)
Headquartered in Dublin, Ohio, American Share Insurance is a credit union-owned private organization whose only business is to provide deposit insurance to credit unions. American Share has operated successfully since it was founded in 1974 by credit unions, and throughout its corporate history no credit union member has ever lost money in an American Share-insured account! American Share Insurance is licensed and dual regulated by the Ohio Department of Commerce and the Ohio Department of Insurance and is authorized to issue this coverage in the state of Illinois. Regulators of credit unions in each state in which American Share operates also review the company's performance. Furthermore, the company's financial statements are audited annually by an independent CPA firm and are available upon request.
About Excess Share Insurance (ESI)
Also headquartered in Dublin, Ohio, Excess Share Insurance is a wholly owned subsidiary of American Share Insurance, a credit union-owned private deposit insurer founded in 1974 by credit unions, for credit unions. As a property and casualty insurer, ESI is subject to licensing and regulation by the Illinois Department of Insurance. Furthermore, the company's financial statements are audited annually by an independent CPA firm and are available upon request.
For More Information Go To:
- AmericanShare.com
- ExcessShare.com
- Or call: 800.521.6342