Double Coverage with ESI

We are pleased to inform you that your deposit accounts in this credit union are insured up to $500,000.00. This exceptional level of coverage is attained through a combination of federal insurance provided through the National Credit Union Administration (NCUA) and private insurance from Excess Share Insurance.

First, NCUA’s basic federal coverage insures credit union member’s deposits up to $250,000.00, but accounts may be structured in different ways- such as joint, payable-on-death or IRA accounts- to achieve federal coverage of more than $250,000.00. For details about federal deposit insurance, or how to structure your accounts to qualify for greater federal coverage, please check with an ARECU representative or contact the NCUA.

Second, accounts exceeding the maximum level of coverage provided by NCUA are also insured up to an additional $250,000.00 by ESI. For example, if you have a regular savings (share) account, checking (share draft) account and certificate of deposit that together add up to $500,000.00, then $250,000.00 is insured by NCUA and the remaining $250,000.00 is insured by ESI.

Alabama Rural Electric Credit Union is proud to be one of only eleven credit unions in Alabama to have this additional coverage through ESI and a combined 19 credit unions in Alabama, Florida, and Georgia. For more information on this coverage, please contact an ARECU representative or ESI. You can also read more on ESI's website,