Insured Up to $500,000 per Account
One of the great features CAHPCU Members receive is financial security. Check out other financial institutions, and then look at our program. C.A.H.P. Credit Union insures EACH of your share accounts up to $500,000. Yes, each share suffix, (i.e., savings, checking, money market, etc) is individually insured. That’s five times the norm and per account. In today’s economic environment CAHPCU provides you maximum security for your hard earned savings.
American Share Insurance (ASI) provides primary and excess share (deposit) insurance exclusively to credit unions. It is a member-owned, share guaranty corporation, and is the nation's largest non-federal insurer of consumer deposits. American Share Insurance is not a government agency. Members' accounts are not insured or guaranteed by any government or government-sponsored agency. The company draws its strength from the geographical and occupational diversification of its member credit unions, as well as its deployment of sound underwriting and risk management principles. Regard for state sovereignty and a mission to meet changing member needs without undue interference in the day-to-day operations of its insured credit unions are just two reasons state-chartered credit unions have selected ASI as their primary share insurer.
ASI is an Ohio-based share guaranty corporation that insures consumer savings (share accounts) on deposit with state-chartered credit unions in selected states. Currently, more than one million credit union members across America rely on ASI to protect their life savings. ASI insures credit unions…and only credit unions!
Founded in 1974 by credit union activists, ASI is the nation‘s largest private deposit insurer for credit unions and has operated in a safe and sound manner since its incorporation. In its 34 years of operation no member of an ASI-insured credit union has ever lost money in an ASI-insured account.
The corporation is licensed by the Ohio Department of Insurance and dual regulated by the Ohio Department of Insurance and Ohio Department of Commerce. Further, regulatory examiners from each state in which ASI operates are invited to participate in Ohio’s annual examination of the corporation. ASI has always been, and continues to be, in good standing with regulators in all states of operation. Annually, ASI’s financial statements are audited by a nationally recognized “Big 4” CPA firm and its loss reserves are certified by internationally recognized actuaries.