Home > Consumer Overview > Excess Share Insurance FAQs
Credit unions that offer ASI’s excess share insurance are the best choice for those who need additional coverage, protection and convenience. Managing large deposits is a serious matter, and we know you have questions. If you can’t find the answer you need here, we encourage you to contact your credit union or ASI for more information.
Do I receive a policy for my excess share insurance?
Policies are not provided to individuals. Our policy is a contract between ASI and your credit union.
What do I have to do to activate coverage?
Nothing. Your credit union completes the necessary paperwork. Once in place, your credit union will inform you of the nature and extent of the excess share insurance provided.
Is there a charge to me for coverage?
Normally there is no direct charge to the credit union member.
How do I know if coverage is changed or terminated?
Should your credit union no longer participate in ASI's excess share insurance program, or should the amount of coverage change, your credit union is required by contract with ASI to notify you in writing.
How secure is ASI?
The company is reviewed and monitored regularly by the appropriate agencies in the states in which we operate.
ASI insures only financially sound credit unions that meet our high standards and rigid underwriting requirements. Not all credit unions applying for this coverage are accepted.
We monitor all of our insured credit unions quarterly, and conduct periodic on-site examinations to confirm their continued insurability.
The company retains independent CPAs and actuaries to annually confirm our financial integrity and the sufficiency of our reserves.
How do I know my account is covered with excess share insurance?
Your credit union forwards a quarterly report to us of covered accounts. You may Email Us or Contact Us at 1.800.521.6342 to confirm that your account has been reported.