Aggieland Credit Union
NOTICE - Effective March 31, 2015 ACU will no longer offer Excess Share Insurance (ESI)
This private insurance insures the next $250,000 in deposits per member over and above the basic $250,000 insured by the National Credit Union Share Insurance Fund (NCUSIF). Please note that IRA accounts have a separate and additional $250,000 limit by themselves that are covered under the NCUSIF. We are discontinuing ESI coverage because we have experienced difficulty in explaining the value in relation to the expense since the insurance is private and not federal. You can rest assured that ACU, ESI and NCUSIF are all financially sound organizations.
Over the next few months our staff is here to help you restructure your account, if necessary, to gain more federal insurance from the NCUSIF. The NCUA provides a very helpful share insurance coverage estimator and FAQ page.
There will be no penalties assessed for the withdrawal or transfer of any funds should you make any changes as a result of our decision to eliminate Excess Share Insurance (ESI) coverage.
Please feel free to contact your local Branch Manager to discuss any changes you would like to make to your account.