Home > Primary Share Insurance > How to Apply
Applying for primary share insurance from ASI is simple and easy.
First, you need to contact the ASI marketing department to better understand the process. Once a meeting has been held between your management team or board and ASI representatives, the credit union completes an application. The information requested in the application is standard financial and operational data that is readily available at most credit unions.
After applying, our underwriting department will review the application and communicate with the credit union regarding any questions they may have. Following this, an on-site examination is conducted to determine insurability.
After an underwriting approval is provided, the credit union must solicit the vote of its membership as to the proposition to convert from federal to private share insurance provided by ASI. This process is governed by NCUA's Rules Part 708b. ASI provides converting credit unions with assistance needed in satisfying the requirements for converting insurance. A comprehensive guidebook, staff training and education are provided to the credit union.