Excess Share Insurance
Excess Share Insurance is now available to Oxford Federal Credit Union members, insuring share accounts up to $500,000.00 – the highest combination of federal/private share insurance available to consumers.
This coverage is a combination of $250,000.00 per member provided by the National Credit Union Administration, an agency of the federal government, and $250,000.00 per member provided by the Excess Share Insurance Corporation (ESI), a licensed property and casualty insurer. And because Individual Retirement Accounts (IRAs) are insured separately, your share and retirement accounts at the credit union could have combined federal/private coverage of $1,000,000.00.
ESI coverage is available to credit unions meeting strict underwriting criteria, which reflects the credit union’s commitment to safety and security.
This increased level of deposit insurance is available at no cost to our members.
