How can you help your credit union stand out in the marketplace? Will better rates do it? Perhaps more locations? Maybe even longer hours? Is that enough to win over new and existing members? The competition can be fierce, so show your strength by offering protection that no banks and few credit unions can offer – excess share insurance from Excess Share Insurance Corporation (ESI).
Your peers understand how important offering excess share insurance can be. Please see below for some of the many benefits that offering excess share insurance brings to their credit unions and their members.Contact ESI
“Excess Share Insurance provides our members the peace-of-mind that their deposits over $250,000 are insured. It’s an affordable solution for us, and added protection for those valuable members with large deposit balances.”
Bill Allender, President / CEO, BMI Federal Credit Union
“For almost twenty years, Arkansas Federal Credit Union has been providing Excess Share Insurance for our members. Having access to additional deposit insurance provides us with a competitive advantage. This has led to continued growth in deposits at Arkansas Federal. Recently, we expanded our relationship with ESI to cover Business Accounts that demand a higher level of deposit insurance. We have found ESI to be both flexible and responsive to our specific needs.”
Eric Mangham, CFO, Arkansas Federal Credit Union
“We’re always looking for more ways to better serve our members, and partnering with ESI allowed us to offer an option for members to safely place more money into a single institution. Our members have appreciated having the higher insured amount, and we’re grateful to be the first and only financial institution in Hawaii to provide this extended coverage protection for our members’ deposits.”
Bruce M. Rosen, EVP, Hawaii Central Federal Credit Union
“One of the first new services we offered when I came to Alabama Credit Union was additional deposit coverage through ESI. We were in extremely competitive markets in TUSCALOOSA and HUNTSVILLE – our only two branches at the time – and we felt this extended coverage would provide an advantage over banks and other credit unions. We also had many loyal members who were at the NCUSIF limit that we knew would bring more deposits to us with the higher insured limits.
“Over 20 years later, we still count ESI as a very valuable partner. Beyond the higher limits, the mere fact that Alabama Credit Union can secure this coverage provides members with a sense of confidence that the credit union is well run and financially strong. We plan on ESI being a key component of our operation for many years to come.”
Stephen Swofford, President / CEO, Alabama Credit Union
“We were looking for a way to provide additional security to larger depositors as they considered putting their money to work with the credit union. ESI’s product met our needs, their staff was helpful, and their process was transparent. Working with ESI has allowed us to enhance coverage for larger deposits and provide that extra assurance to our partners.”
Alison Beck Yonas, SVP, Development and Strategic Investments, Latino Community Credit Union
“Since connecting with the ESI Team, we now have an easy-to-implement added advantage attached to our deposit products. And thanks to ESI’s marketing kit, our members know all about it and they love it!
“Giving members a no-cost-to-them benefit brings peace of mind that translates into consistent deposit growth for the credit union. Not only is ESI covering our members, but they are also covering us with superior service in the reporting process. I would definitely recommend Excess Share Insurance to any credit union who believes in value-added service!”
Felicia Pope, CSME, VP Marketing and Business Development, ArrowPointe Federal Credit Union
“ESI has been a wonderful complement to our private insurance coverage. We are proud to be the only financial institution in our area to offer our members Excess Share Insurance. While most of our members do not require the excess coverage, it gives them the confidence that their credit union can handle all of their financial needs, now and in the future. I recommend ESI as both a practical insurance provider as well as a powerful marketing tool.”
Matt Grannon, President / CEO, Alliance Credit Union