HUMBLE, Texas–InvesTex Credit Union here is converting to deposit insurance from American Share Insurance (ASI) from the National Credit Union Share Insurance Fund (NCUSIF).
“We appreciate the terrific support and guidance provided by the folks at ASI while working with our team both on‐site and remotely to complete this process,” said President and CEO Keith Kearney. “It was successful by every measure, and we are excited about the greater resources now afforded our members.”
Dublin, Ohio-based ASI, which said in a statement announcing the move that it is owned by credit unions, said it provides “Coverage Without Limits,” and insures more than 1.3 million members and $22 billion in shares in 10 states.
American Share is a share guaranty corporation, licensed by the Ohio Department of Insurance, and dual‐regulated by the Ohio Departments of Insurance and Commerce. The corporation insures up to $250,000 on each and every account of an individual member.
InvesTex CU was funded in 1952 as Aldine Teachers Credit Union. It has more than $260 million in assets.
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