Protecting Your Savings Beyond the Limit
At EFCU Financial, we are committed to providing our members with comprehensive protection for their hard-earned savings. In addition to the standard federal insurance provided by the National Credit Union Administration (NCUA), we offer Excess Share Insurance (ESI). This exclusive benefit ensures your Share Certificate and Money Market deposits are securely safeguarded well beyond conventional limits.
Excess Share Insurance
Excess Share Insurance (ESI) is an additional layer of protection for your savings. While the NCUA insures individual member accounts up to $250,000, ESI covers deposits up to $750,000, providing you with increased security and peace of mind.
Coverage Per Member with Excess Insurance*
| Certificate or Money Market Type |
NCUA Coverage |
ESI Coverage |
Total Insured |
|---|---|---|---|
|
Individual |
$250,000 |
$750,000 |
$1,000,000 |
|
Joint |
$250,000 |
$750,000 |
$1,000,000 |
|
IRA** |
$250,000 |
$750,000 |
$1,000,000 |
|
Business |
$250,000 |
$750,000 |
$1,000,000 |
*Example Only
**IRA Money Market not currently offered
ESI’s Policy
To be eligible for excess coverage, EFCU Financial must comply with ESI's strict underwriting standards. Individual policies are not provided to members, and there is no direct cost to you for this coverage. EFCU Financial or ESI may terminate or modify this coverage; however, you will be notified in writing of any such changes.
About ESI
Headquartered in Dublin, Ohio, ESI is a wholly owned subsidiary of American Share Insurance, a credit union-owned private deposit insurer founded in 1974 by credit unions, for credit unions. As a property and casualty insurer, ESI is subject to licensing and regulation by your state’s insurance department. The company's financial statements are audited annually by an independent CPA firm and are available upon request.
ESI is not a federal or state government agency.