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Maine, Delaware newest states to allow excess share insurance

DUBLIN, Ohio - Maine and Delaware have joined the list of states that authorize Excess Share Insurance to offer credit unions in the state with excess share deposit insurance. ESI is a licensed property and casualty insurer that operates as a subsidiary of American Share Insurance (ASI). The authorization means...

By Staff Writer | Updated on October 23, 2001

DUBLIN, Ohio – Maine and Delaware have joined the list of states that authorize Excess Share Insurance to offer credit unions in the state with excess share deposit insurance. ESI is a licensed property and casualty insurer that operates as a subsidiary of American Share Insurance (ASI). The authorization means both state and federally chartered CUs in Maine and Delaware can apply to add an additional $250,000 to their current member deposit insurance coverage, thus increasing their coverage from $100,000 of federal protection, to $350,000 of combined federal and private coverage. That brings to eight the total number of states allowed to apply for excess share deposit insurance through ESI. The other six states are: Alabama, Arizona, California, New Hampshire, North Dakota and Oklahoma.

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