Excess Share and Deposit Insurance from MSIC provides credit unions an extra layer of deposit insurance coverage. Balances above the federal limit, currently $250,000, carry additional deposit insurance through MSIC, up to certain thresholds. With Excess Share and Deposit insurance, credit union members can deposit large balances without needing to worry about diversification.
A home sale, an inheritance, the sale of a business – any of these events could quickly increase a depositor's balance well above the $250,000 mark. Excess Deposit Insurance provides safety, simplicity and convenience to depositors, at no direct cost to the individual credit union member.