Your Insured Funds
ASI insures each and every account of an individual member to $250,000 without limitation as to the number or nature of the accounts held. (See example of coverage below.)
| Member's Holdings | ASI Primary Insurance |
|---|---|
| Savings | $ 250,000 |
| Checking | $ 250,000 |
| Money Market | $ 250,000 |
| IRA or Other Account | $ 250,000 |
| CD 1 | $ 250,000 |
| CD 2 | $ 250,000 |
| Total Insured | $1,500,000 |
- No credit union member has ever lost money in any ASI-insured credit union.
- ASI is owned by credit unions and only insures credit unions. Currently, over 1.5 million individual consumers belong to credit unions insured by ASI.
- Like the credit unions it insures, ASI is safe and sound. The company’s equity ratio of 1.49% is greater than that reported by federal deposit insurance funds.
- ASI does not hold any collatarized mortgage obligations (CMOs) or any of the types of exotic investments that created the need for the $700 billion bailout of AIG, Goldman Sachs and other investment firms currently under consideration by the US Congress, nor does it insure or guarantee the performance of such securities to any parties.
- ASI’s balance sheet exhibits solid characteristics with 25% invested in cash and cash equivalents, 70% in U.S. government-guaranteed agency bonds and US Treasuries, and 5% in other assets (certificates of deposit, accounts receivable, building and other fixed assets).
- ASI’s insured credit unions generally have little or no investments in CMOs, nor do credit unions buy the types of exotic investments associated with the recent and well-publicized failures of some of the nation’s largest investment firms, banks and thrifts.
- ASI’s insured credit unions hold little or no sub-prime mortgages, as confirmed by our numerous on-site field examinations.
- ASI is not assigned a traditional insurance industry rating by companies like A.M. Best or Standard and Poor’s due to the limited number of companies in our industry. Financial data and other information are supplied to the key rating services annually for their review and analysis.
- ASI is selective as to who it insures. Not all credit unions that apply for coverage are accepted due to ASI’s strict underwriting standards.
- The ASI insurance fund provides your credit union with a strong, high-quality program that can sustain regardless of changes in economic conditions - a program that members can trust and rely upon!
