Mind Your Own Business
What does it mean to mind your own business?
It means being able to operate without the regulatory redundancy and burden that the federal share insurer brings to bear upon state-chartered credit unions.
According to the February 2016 CUNA Advocacy Briefing, the cost of regulatory burden to credit unions topped $7.2 billion in 2014. As a state-chartered, privately insured credit union, your organization can assure your members of broader coverage while reducing the cost associated with the unnecessary regulatory burden federal share insurance brings to the table.
As the nation’s only nonfederal share insurer, American Share doesn’t blur the lines between state regulation and share insurance.
It means having a voice in the operations of your deposit insurer.
American Share’s board of directors is elected by its member-owner credit unions, not appointed. They are empowered to set company policy, develop business strategies and deploy sound action plans for the benefit of all members. Our Advisory Council, comprised of chief executives from over 20 insured member credit unions, provides insight to American Share’s board and management team—again, for the benefit of all members.
It means being able to run your credit union in ways that best meet the needs of your members.
As state-chartered credit unions look for ways to enhance the product offerings, grow their businesses and provide greater coverage for their members’ accounts, they should look to American Share. American Share’s $250,000 in coverage on every account of an individual member helps protect current members and generations to come.
Mind Your Own Business with American Share
American Share gives state-chartered credit unions a choice in the depth and breadth of the share insurance they provide for their members, without the cost of excessive regulatory burden. Interested federally chartered credit unions can also enjoy American Share’s broader coverage and relief from unnecessary regulatory burden by switching to a state charter and private share insurance simultaneously.