Excess Share Insurance

Your Money is Safe

Your deposits at Heartland are insured to at least $100,000 by the NCUA, (National Credit Union Administration), a U.S. government agency. IRA accounts are insured by the NCUA up to $250,000.

With up to $250,000 in excess coverage provided by the Excess Share Insurance Corporation (ESI), your deposits at Heartland Credit Union are insured up to $350,000. IRA accounts are insured up to $500,000.

Need even more coverage?
Just ask us how!

ESI is a wholly owned subsidiary of American Share Insurance (ASI), the nation's largest private deposit insurer, and only insures credit unions meeting its high standards.
 

The credit union pays ESI for the additional coverage. There is no direct cost to you.
 

Policies are not provided to the individual consumer. ESI coverage is actually provided to the credit union, who, in turn, reallocates it up to a maximum of $250,000 by reporting your uninsured amount to us.
 

Should your credit union no longer participate in the excess share insurance program, or should the amount of coverage change, you are required to be notified. 
 

Several factors you should feel comfortable in knowing about the security of ESI:

• ESI is reviewed and monitored regularly by the appropriate agency in each state in which we operate. 

• ESI retains extensive reinsurance with unrelated third party U.S. re-insurers. 

• ESI maintains lines of credit for supplemental liquidity.

• ESI monitors all of our insured institutions monthly.

• ESI conducts periodic on-site examinations of our insured credit unions. 

• ESI insures only financially sound institutions meeting our criteria. Not all credit unions applying for this coverage are accepted. 

Nothing. Your credit union completes the necessary paperwork.

What is the Excess Share Insurance Corporation (ESI)?

ESI is a wholly owned subsidiary of Ohio-based American Share Insurance (ASI), the nation's largest private deposit insurer. ESI is a licensed property and casualty insurance company.

ESI coverage increases deposit insurance levels for credit union members. Excess insurance can provide each member up to an additional $250,000 above your current level of protection. For instance, accounts insured to $100,000 by NCUA can actually be protected up to $350,000 by adding excess coverage.
 

Excess share insurance has been provided by either ESI or its sole shareholder, American Share Insurance, since 1982. Over this period, no credit union member has ever lost a cent due to failure to pay a claim by either company. Many factors contribute to the corporation's safety and soundness; for example, ESI:

• retains extensive reinsurance policies with unrelated third party U.S.-based reinsurers. 
• maintains lines of credit for supplemental liquidity.
• monitors all of its insured institutions monthly.
• conducts periodic on-site exams of its insured credit unions.
• insures only financially sound credit unions
  

ESI has filed for a rating from A.M. Best and Standard & Poor…two typical insurance-rating systems.
 

ESI is licensed and examined by the Ohio Department of Insurance, and by the insurance departments of each state in which it operates.
 

Credit unions receiving excess share insurance are required to meet above average standards for insurability. In fact, ESI's monitoring and oversight of its insured credit unions is the most comprehensive in the industry. Credit unions are monitored monthly and routinely examined on-site. As a result of this due diligence, ESI's insured credit unions are among the healthiest in the industry.
 

ESI provides an annual report prepared by a nationally recognized accounting firm. This report is provided to the state insurance department of each state in which ESI operates, each ESI-insured credit union and, by law, is made available to each insured depositor, upon request. Additional information can be obtained from the company's Web site at www.excessshare.com.
 

ESI is licensed and operating in some 20 states plus the District of Columbia, and currently insures more than 150 credit unions. In addition, the corporation has applications to conduct business pending in 7 states. Only credit unions that meet ESI's underwriting requirements and risk eligibility standards are considered for the program. The majority of the credit unions in the program today are among America's elite.