American Share Insurance (ASI)

Member savings in this credit union are insured up to $250,000 per account.  This unparalleled level of protection is possible because of our affiliation with American Share Insurance (ASI), the nation’s largest private deposit insurer.

Your board of directors and membership have elected to have their accounts protected by ASI for several reasons.  First, ASI is a non-federal insurer, owned by credit unions.  It maintains 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 its 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, we are required to meet strict underwriting standards and submit full financial statements and other relevant information monthly.  Additionally, we are subjects 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 policies and its operations.

ASI Logo

ASI is a multi-state insurer, regulated by each state in which it operates.  The corporation has been headquartered in Dublin, Ohio for 20 years and both the Ohio Departments of insurance and Commerce oversee its operations. Annually, it subjects itself to an audit by accounting firms and regulatory agencies of states in which it operates.   ASI has consistently satisfied the demands of these agencies.

ASI’s outstanding historical performance is illustrated by its exceptionally high ratio of insurance fund equity to member savings, and its track record with respect for insuring losses.  No member has ever lost a cent in an ASI-insured credit union and its annual average losses are the lowest of any deposit insurance fund. 

Because of monitoring systems, geographical diversification and the quality of institutions it insures, member accounts are protected up to $250,000.  ASI insures accounts, not individuals.  Each account you have with OHecu is insured to this exceptional level of coverage.