Why American Share Insurance?

Each Account Insured to $250,000

At South Bay Credit Union your funds are insured for up to $250,000 per account through American Share Insurance (ASI).

Not a state or federal organization, ASI upholds the highest standards of financial accountability – both for their company, and the credit unions that they insure. Only the most financially responsible institutions qualify to offer ASI. South Bay Credit Union is proud that we consistently meet these higher standards, and are able to offer the higher coverage limit to our members.

To prove fiscal responsibility, we provides monthly financial information to ASI, and our thoroughly audited annually. Located in Dublin, Ohio, ASI is closely monitored and duly regulated by the Ohio Department of Commerce and the Ohio Department of Insurance. Additionally, California’s own Department of Business Oversight annually reviews SBCU and ASI for its performance and financial condition.

ASI is the nation’s largest provider of private deposit insurance for credit unions. They have been insuring credit unions since 1974, and serving SBCU members since 1979 when the credit union members approved selection of the private insurer by vote.

Protecting Credit Union Deposits Since 1974

  • No credit union member has ever lost money in any American Share-insured credit union account.
  • American Share’s insured credit unions generally have little or no investments in mortgage-backed securities. American Share’s insured credit unions hold few or no sub-prime mortgages, as confirmed by our numerous on-site field examinations.
  • American Share’s equity ratio is greater than that reported by both federal deposit insurance funds.
  • The majority of American Share’s assets are held in cash and US government-guaranteed bonds and US Treasury securities. American Share does not hold the types of investments that plagued many financial institutions and investment firms in recent years.
  • A “big four” accounting firm annually audits the company’s financial statements; and an independent actuary attests each year to the sufficiency of the company’s loss reserves.
  • American Share’s only business is to provide deposit insurance to credit unions… and only credit unions. American Share is selective about the credit unions it insures. Not all credit unions that apply for coverage are accepted due to American Share’s strict underwriting standards. American Share-insured credit unions are examined regularly.
  • American Share is licensed by the Ohio Department of Insurance and dual-regulated by the Ohio Departments of Insurance and Commerce.
  • American Share has always been and continues to be in good standing with the various insurance departments and regulators in all of its states of operation.
  • American Share is not assigned an insurance industry rating by A.M. Best due to American Share’s unique structure as a mutual share guaranty corporation as opposed to a traditional insurance company. Financial data and other information are supplied to rating services for their review and analysis.
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American Share insures each and every account of an individual member up to $250,000, without limits as to the number of accounts held. If you have 20 separate accounts with your credit union, up to $5,000,000 of your deposits are covered!


American Share is a member-owned, private share insurer founded in 1974 and is owned by its insured credit unions. Currently, the corporation insures the accounts of over 1.2 million credit union members. If you have questions about the coverage provided by American Share, ask your credit union or contact us at 800.521.6342.