Your Plus Credit Union deposits are insured by American Share Insurance (ASI) is the nation's largest private insurers of credit union deposits.
ASI insures accounts, not individuals. Each account that you have with Plus Credit Union is insured for up to $250,000 each insurer. For example, if you have $250,000 in a Regular Share Account and $250,000 in a Term Share Certificate, your total insurance coverage is $500,000.
Your board of directors and membership have elected to have their accounts protected by ASI for several reasons. First, ASI is a non-federal insurers, owned by credit unions. They maintain a unique perspective by working as a partner with the credit union to assure that the best interests of you, the member, are protected.
Through their monthly monitoring system, annual review process and business approach, we are able to structure the proper programs to meet the needs of our membership while operating within the confines of safety and soundness.
To qualify as an ASI insured member, Plus Credit Union is required to meet strict underwriting standards and submit full financial statements and other relevant information monthly.
Additionally, we are subjected to regular, extensive field audits by ASI, state regulators, independent accountants and others. Any variation in required standards becomes the focus of ASI's efforts to restore sound policies and operations.
ASI is multi-state insurer, regulated by each state in which it operates. The corporation has been headquartered in Dublin, Ohio, for over 20 years, and both the Ohio Departments of Insurance and Commerce oversee its operations.
If you need additional information or have questions about your coverage, please contact Plus Credit Union, American Share Insurance.