Latest topics
Check out your local CU for extra insurance on you Interest Bearing accounts
3 posters
Check out your local CU for extra insurance on you Interest Bearing accounts
Excess Share Insurance
Visit ESI at Click Here
My local CU now provides members with the highest combination of federal/private share savings deposit insurance available: $500,000 for regular savings accounts and $500,000 for Individual Retirement Accounts. This exceptional level of protection is made possible through our affiliation with the Excess Share Insurance Corporation (ESI), a subsidiary of American Share Insurance, the nation's largest private deposit insurer. The Excess Share Insurance is FREE and covers both member share accounts and business share accounts.
ESI provides members up to $250,000 in coverage, in addition to $250,000 standard share deposit insurance protection from the National Credit Union Administration (NCUA), an agency of the federal government. A total of $500,000 in protection for your regular savings accounts. Joint, retirement and certain other account relationships are insured separately and are subject to other federal guidelines, and also qualify for this supplemental coverage.
For example, if you have a savings account, checking account, and certificate of deposit at My CU that totals $300,000, $250,000 is insured by NCUA and the remaining$50,000 is insured by ESI.
Because Individual Retirement Accounts (IRAs) are insured separately, they are now protected up to $500,000 as well. By maintaining your non-retirement savings and your IRA at the credit union, you may now have a combined savings insurance of $1,000,000.
Facts About Excess Share Insurance
Excess Share Insurance Corporation (ESI) provides share savings accounts an additional $250,000 of insurance per member beyond the federal coverage limit of $250,000. But who is ESI?
ESI is:
- A licensed property and casualty insurer
- A wholly owned subsidiary of American Share Insurance (ASI), the nation's largest private deposit insurer
- An insurer solely of credit unions, with policyholders from coast to coast
- A corporation committed to safety and soundness, evidenced by an outstanding historical performance - no member of an ESI-insured credit union has ever lost a cent of their savings
Trac- Active Member
- Posts : 66
Join date : 2011-06-27
MntnLady- Active Member
- Posts : 40
Join date : 2011-06-18
Re: Check out your local CU for extra insurance on you Interest Bearing accounts
Yes! Thank you so much from me too! I'll be checking out the local CU in my area now!!
Herb Lady- Elite Member
- Posts : 362
Join date : 2011-07-24
Permissions in this forum:
You cannot reply to topics in this forum
Fri Apr 26, 2024 11:16 am by kenlej
» Phony Tony sez: Full Steam Ahead!
Sat Apr 13, 2024 11:51 am by Mission1st
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Sat Apr 13, 2024 11:45 am by Mission1st
» Russia aren't taking any prisoners
Fri Apr 05, 2024 6:48 pm by kenlej
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Wed Mar 27, 2024 6:02 am by Ditartyn
» ZIGPLACE
Wed Mar 20, 2024 6:29 am by Zig
» CBD Vape Cartridges
Thu Mar 07, 2024 2:10 pm by Arendac
» Classic Tony is back
Tue Mar 05, 2024 2:53 pm by Mission1st
» THE MUSINGS OF A MADMAN
Mon Mar 04, 2024 11:40 am by Arendac
» Minister of Transport: We do not have authority over any airport in Iraq
Mon Mar 04, 2024 11:40 am by Verina
» Did Okie Die?
Mon Mar 04, 2024 11:34 am by Arendac
» Hello all, I’m new
Wed Jan 31, 2024 8:46 pm by Jonny_5
» The Renfrows: Prophets for Profits, Happy Anniversary!
Wed Jan 31, 2024 6:46 pm by Mission1st
» What Happens when Cancer is treated with Cannabis? VIDEO
Wed Jan 31, 2024 8:58 am by MadisonParrish
» An Awesome talk between Tucker and Russell Brand
Wed Jan 31, 2024 12:16 am by kenlej
» Trafficking in children
Mon Jan 29, 2024 7:43 pm by kenlej
» The second American Revolution has begun, God Bless Texas
Mon Jan 29, 2024 6:13 pm by kenlej
» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Sun Jan 28, 2024 3:28 pm by Mission1st
» Tucker talking Canada
Wed Jan 24, 2024 6:50 pm by kenlej
» Almost to the end The goodguys are winning
Mon Jan 22, 2024 9:03 pm by kenlej