Excess Share Insurance
DHCU 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 DHCU 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
Safe & Sound
The strength and security of DHCU has been reaffirmed with the addition of excess insurance coverage from the Excess Share Insurance Corporation (ESI), a wholly owned subsidiary of American Share Insurance (ASI), the nation's largest private deposit insurer.
Our approval for the program is a testament to our safety and soundness, as ESI selects only top-performing credit unions for its program. ESI promotes our continued strength and security through comprehensive monitoring and on-site examinations of all its insured credit unions.
For more information about the protection on your accounts, please contact us. You can also visit ESI at www.excessshare.com.
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