Because of the recent events within the marketplace, from local to global, we understand the concern that many of our members and potential members may have in regard to the security of their monies and the stability of us as a financial institution. May we say your concerns are justified!
"…ASI has no business relationship with AIG, nor does it insure any of the types of risks that created the problems affecting AIG. A portion of AIG’s difficulties stems from insuring mortgage-backed securities. ASI doesn’t hold or insure any mortgage-backed securities! Furthermore, ASI is proud of its strong equity position of 1.48% as compared to that being reported by the FDIC. It is important to remind your members that their accounts are safe and sound and insured up to $250,000 per account, not $100,000 per member."
As you can see the company behind the insurance on your funds is strong and will remain so. In fact your funds have stronger coverage than following the media’s advice of “making sure your funds are federally insured”. Below is an example of the extent of your coverage with Plus Credit Union:
| Account Type | Federal Insurance | ASI / ESI Insurance |
|---|---|---|
| Regular Shares (Savings) | $100,000 | $500,000 |
| Certificate of Deposit #1 | $500,000 | |
| Certificate of Deposit #2 | $500,000 | |
| Checking Account | $500,000 | |
| Total Insurance | $100,000 | $2,000,000 |
So with all this we would like to insure you understand the care and concern we place in make sure your money is safe with Plus Credit Union. If you have further questions in regard to the insurance please feel free to contact us at 702.871.4746 or the insurance company, at 1.800.521.6342 or via our website at www.americanshare.com. We appreciate your business and concern.