Protecting Credit Union Deposits Since 1974
- American Share is a member-owned, private share insurer founded in 1974 and is owned by its insured credit unions. Currently, the corporation insures the accounts of over 1.3 million credit union members. No credit union member has ever lost money in any American Share-insured credit union account in its history.
- The majority of ASI’s assets are held in cash and US government-guaranteed bonds and US Treasury securities.
- Annually, a “big four” accounting firm audits the company’s financial statements, and an independent actuary attests to the sufficiency of the ASI’s loss reserves.
- ASI’s only business is to provide deposit insurance to credit unions, and they are selective about the credit unions they insure. Not all credit unions that apply for coverage are accepted due to their strict underwriting standards.
- ASI is licensed by the Ohio Department of Insurance and dual-regulated by the Ohio Departments of Insurance and Commerce.
- ASI has always been and continues to be in good standing with the various insurance departments and regulators in all of its states of operation.
- Because of their unique structure as a mutual share guaranty corporation (as opposed to a traditional insurance company), American Share is not assigned an insurance industry rating by A.M. Best. However, financial data and other information are supplied to rating services for their review and analysis.
American Share insures each and every account of an individual member up to $250,000, without limits as to the number of accounts held. If you have 20 separate accounts with your credit union, up to $5,000,000 of your deposits are covered!
| Account Type | Amount Insured |
|---|---|
| Checking/Share Draft | Up to $250,000 |
| Savings/Shares | Up to $250,000 |
| Money Market | Up to $250,000 |
| IRA | Up to $250,000 |
| CD/Share Certificate | Up to $250,000 |
| Holiday Savings | Up to $250,000 |
If you have questions about the coverage provided by American Share, ask your credit union or contact us at 800.521.6342.
BY MEMBERS’ CHOICE, THIS INSTITUTION IS NOT FEDERALLY INSURED. MEMBERS’ ACCOUNTS ARE NOT INSURED OR GUARANTEED BY ANY GOVERNMENT OR GOVERNMENT-SPONSORED AGENCY.
