Home > Consumer Overview > Excess Share Insurance
Additional coverage and convenience.
ASI excess share insurance provides coverage for credit union members’ accounts when their balances exceed the maximum level of coverage provided by the credit union's primary share insurer; that is, either ASI, or the NCUA fund - the administrator of the federal credit union share insurance program.
Up to an additional $250,000 of coverage.
NCUA’s coverage is generally $250,000* for the sum of all savings, certificates of deposit and checking accounts, as well as $250,000 for individual retirement accounts (IRA's). Members exceeding the maximum level of insurance coverage provided by the NCUA are then insured up to an additional $250,000 with ASI’s excess share insurance. This provides credit union members with coverage up to $500,000 for the sum of all savings type accounts as well as $500,000 for an individual retirement account.
For state-chartered credit unions with ASI’s primary share insurance, which provides coverage of $250,000 per account, ASI’s excess share insurance adds an additional $250,000 in coverage. This makes each account insured up to $500,000.
Only when needed.
A member’s balance must exceed the primary coverage as provided by either NCUA or ASI to be insured by ASI’s excess share insurance. If your credit union's primary share insurance is provided by the NCUA, please visit their website to understand their coverage limits. View NCUA Website >>
Added protection and convenience.
Save time and effort by keeping large deposits in one place. Avoid having to distribute funds between financial institutions to keep all of your funds insured.
Recognized industry leadership.
ASI has demonstrated financial stability and support of the credit union industry for more than 30 years. The company provides share insurance solely to credit unions.
*IMPORTANT NOTICE:
Under the Helping Families Save Their Homes Act of 2009, federal share insurance for select deposit accounts was temporarily increased from $100,000 to $250,000 per member. This temporary increase in coverage is to expire December 31, 2013. Federal insurance coverage for IRA accounts is permanently set at $250,000 per member.
