The membership of Rocky Mountain Credit Union voted to approve conversion to private share insurance. As a result of our membership’s approval and approval by the National Credit Union Administration (NCUA), effective October 1, 2018, each of your separate accounts in Rocky Mountain Credit Union will be insured up to $250,000 by American Mutual Share Insurance Corporation (American Share), a private corporation chartered by the State of Ohio.
What is American Share Insurance?
- No credit union member has ever lost money in an American Share-insured deposit.
- American Share is owned by the credit unions it insures and has been exclusively insuring credit union members’ accounts for over 43 years.
- Currently, over 1.3 million members belong to credit unions insured by American Share.
- A majority of American Share’s assets are held in cash and US Treasury and US Government agency bonds.
- Credit unions must qualify for American Share deposit insurance, and American Share routinely examines the credit unions it insures.
- There is no increased cost for American Share’s unique program to you.
Proven Performance Since 1974
Founded as an alternative to federal share insurance for state-chartered credit unions, American Share is a credit union-owned share guaranty corporation and the nation’s largest provider of private share insurance for credit unions.
Financially Sound and Regulated
American Share is authorized to issue credit union share insurance in Montana and is licensed and dual regulated by the Ohio Department of Insurance and the Ohio Department of Commerce in its home state. The company’s financial statements are audited annually by an internationally recognized independent CPA firm and are available upon request at the credit union.