American Share Insurance

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American Share Insurance (ASI) is a privately held deposit guaranty corporation that insures shares (deposits) in some state chartered credit unions.[1] ASI was established in 1974 as the National Guaranty Insurance Fund, changing its name to American Share Insurance in the early 1990s. ASI is the largest privately owned insurance corporation for credit unions.

Credit unions carrying ASI’s private insurance must state that funds deposited in the credit union are insured by a private organization, and that the United States Government does not guarantee accounts in that particular credit union.

ASI also offers Excess Share Insurance to subscribing state and Federal credit unions which protects member share accounts from $100,000 to $250,000. This product is used by credit unions which have National Credit Union Share Insurance Fund (NCUSIF) insurance on the base $250,000 guaranteed by that fund.

ASI is headquartered in Dublin, Ohio.

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References[edit]

  1. ^ Some large Nevada credit unions depend on private insurance. Las Vegas Review-Journal. 22 Aug. 2004.