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AMERICAN SHARE INSURANCE

Your Insured Funds

ASI insures each and every account of an individual member up to $250,000 without limitation as to the number of accounts held.

Member's Accounts

ASI Deposit Insurance

Savings/Regular Share

$250,000

Checking/Share Draft

$250,000

Money Market

$250,000

CD/Share Certificate #1

$250,000

CD/Share Certificate #2

$250,000

Holiday Account

$250,000

IRA

$250,000

   

Total Insured

$1,750,000

For example, 20 account types = $5,000,000 of coverage to one member.

 

  • No credit union member has ever lost money in any ASI-insured credit union account.
  • ASI is a private deposit insurer founded in 1974 and is owned by its insured credit unions. Currently, over 1.2 million members belong to credit unions insured by ASI.
  • ASI’s insured credit unions generally have little or no investments in mortgage-backed securities, nor do credit unions buy the types of exotic investments that have been associated with the failures of some of the nation’s largest investment firms, banks and thrifts during recent years. ASI’s insured credit unions hold little or no sub-prime mortgages, as confirmed by our numerous on-site field examinations.
  • ASI’s equity ratio is greater than that reported by federal deposit insurance funds.
  • A majority of ASI’s assets are held in cash and US government-guaranteed bonds and US Treasuries. ASI does not hold the types of investments that plagued many financial institutions and investment firms in recent years.
  • ASI’s only business is to provide deposit insurance to credit unions... and only credit unions. ASI is selective as to who it insures. Not all credit unions that apply for coverage are accepted due to ASI’s strict underwriting standards. ASI-insured credit unions are examined regularly.
  • ASI is licensed and dual regulated by the Ohio Department of Insurance and the Ohio Department of Commerce.
  • ASI has always been and continues to be in good standing with the various insurance departments and regulators in all states of operation.
  • ASI’s financial statements are audited annually by an independent CPA firm.
  • ASI is not assigned an insurance industry rating by A.M. Best due to ASI’s structure as a mutual share guaranty corporation as opposed to a traditional insurance company. Financial data and other information are supplied to rating services for their review and analysis.

 

Landmark Credit

Primary & Excess Deposit Insurance

ASI & ESI

 

Landmark Credit Union is pleased to provide each of your depository accounts with $250,000 of protection through American Share Insurance (ASI), the nation's largest private insurer of credit union savings.

 

Also the Board of Director's of Landmark has chosen to acquire additional coverage from Excess Share Insurance Corporation (ESI) for account balances exceeding $250,000.This extended level of protection provides an additional $250,000, meaning that each reported account in this credit union is protected up to $500,000 the highest limit of savings protection available to credit union members.

 

$250,000 Additional Coverage

 

There is no limit to the number of accounts you may have with Landmark and still maintain this extra measure of protection.Excess coverage is specifically designed to free you from concern about the nature and extent of insurance on your savings account balances.

 

About ASI-ESI

 

ASI is a credit union-owned, mutual share guaranty corporation and has insured savings of credit union members since 1974.ASI is the largest non-federal insurer of deposits.

 

ASI operates as a business partner with your credit union to assure that member needs are met in a safe and sound manner.It routinely monitors and examines your credit union and, as a licensed share guaranty corporation, is subject to an annual statutory examination by the Ohio Division of Financial Institutions.

 

ASI's primary share insurance program is available only to state-chartered credit unions, whereas both federally and state-chartered credit unions may apply for excess share insurance.

 

Excess Share Insurance Corporation is a property and casualty insurance company solely owned by American Share Insurance, licensed by the Ohio Department of Insurance, and is approved to operate in Alabama by the department of insurance.

 

Excess coverage is particularly unique to the credit union industry.Only credit unions meeting the highest standards are eligible for this extended protection.This insurance can be terminated by either the credit union or by ESI; however, you must be notified in writing of any change in the insured status of your accounts.

 

More Information

 

If you are uncertain about either the nature or the amount of your savings insurance protection, please contact us.You are also welcome to contact either ASI or ESI directly.

 

 

5656 Frantz Road, Dublin, Ohio 43017

614.764.1900 Fax 614.764.1493

800.521.6342

www.americanshare.com

www.excessshare.com

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American Share Insurance is

not a federal or state government agency.

Members' accounts are not insured or guaranteed by any

government or government sponsored agency.

 

This institution is not federally insured.