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Consumer Information

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Protecting Credit Union Deposits Since 1974

American Share is a private share insurer owned by the credit unions it insures. Currently, the corporation protects the accounts of over 1 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. They do not hold the types of investments that plagued many financial institutions and investment firms in prior years.
  • A “big four” accounting firm annually audits the company’s financial statements, and an independent actuary attests each year 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 Commerce and Insurance.
  • ASI’s equity ratio – a key indicator of an insurance company’s financial health – is greater than that reported by both federal deposit insurance funds.
  • 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.

If you have questions about the coverage provided by American Share, ask your credit union or contact us at 800.521.6342.

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!