Credit unions in three more states can now offer members up to $10 million in additional deposit coverage above federal limits.
DUBLIN, Ohio, Oct. 14, 2026 /PRNewswire/ — Excess Share Insurance Corporation (ESI), a wholly owned subsidiary of American Share Insurance (ASI), has received approval to offer supplemental deposit insurance in South Dakota, Alaska, and New Mexico, giving qualifying credit unions up to $10 million in additional coverage per account above federal limits.
ESI protects larger balances held by members, businesses, and municipalities, while 100% of deposits stay at the credit union for local member lending.
“We are excited to establish a presence in South Dakota, Alaska and New Mexico and deepen our commitment to the credit union movement,” said Theresa Mason, President and CEO of ASI and ESI. “We look forward to building lasting relationships and helping these credit unions thrive for years to come.”
“We’re happy that South Dakota credit unions now have access to Excess Share Insurance. ESI gives credit unions another tool to attract and protect larger deposits while providing members with added confidence that their savings are safe and secure,” said Joe Keller, President and CEO, Dakota Credit Union Association.
“We appreciate the opportunity to work collaboratively with ASI and ESI to bring additional deposit insurance options to New Mexico. Making Excess Share Insurance available gives credit unions greater flexibility and another way to protect their members while continuing to serve their communities,” said Melia Heimbuck, President, The New Mexico Credit Union League.
With this expansion, ESI has a growing national footprint across forty-one (41) states and the District of Columbia, serving more than three hundred fifty (350) credit unions.
About American Share Insurance (ASI) and Excess Share Insurance (ESI)
American Share Insurance (ASI) is a member-owned share guaranty corporation licensed by the Ohio Department of Insurance that provides up to $250,000 of primary share insurance per member account. Its wholly owned subsidiary, Excess Share Insurance Corporation (ESI), has operated since 1993 and lets qualifying credit unions, both federally and privately insured, give members coverage above $250,000. Learn more at AmericanShare.com and ExcessShare.com.
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SOURCE Excess Share Insurance
