Bensenville Community CU Members Now Served by Credit Union 1
American Share Insurance (ASI) President/CEO Dennis Adams announced that as of July 31, 2014, ASI has accepted appointment as liquidating agent of Bensenville Community Credit Union in Bensenville, IL. Credit Union 1 of Rantoul, IL purchased all of Bensenville Community CU's loans and other assets and assumed all of its share account liabilities, enabling Bensenville Community CU's members to receive uninterrupted service.
to read more detail from ASI's news release.
ASI Proves Capital Assistance Works
American Share Insurance (ASI) announces that its capital assistance plan to aid the Silver State Schools Credit Union (Las Vegas), has proven to be the "best practice" for preserving a state charter while also being the least-cost solution to the insurance fund. The credit union has reported its ninth consecutive quarter of positive net earnings for the period ending June 30, 2014, and a regulatory net worth ratio of 7.25%. As a result of this progress, Silver State Schools CU made its initial $2.2 million payment (plus interest) to ASI in late July 2014 against the secondary capital plan that was first implemented in 2010 by ASI to help save the credit union during the recent economic recession.
to read more.
Directors & CEOs Leadership Convention
American Share Insurance (ASI) is exhibiting at the 37th Directors & CEOs Leadership Convention,
, at the Palazzo, Las Vegas, NV. Attendees are invited to visit with company representatives at the ASI booth (#111) throughout the event.
ASI Adds to Audit/Examination Staff
Kurt Loose, Vice President of ASI's Examination & Insurance Department, has announced the hiring of a new employee to his audit staff.
has joined American Share Insurance as a Staff Auditor, effective June 30, 2014. Lauren is a recent graduate of Bowling Green State University where she earned a Bachelor of Science degree in Business Administration (specialization in Accounting and Finance), as well as a Masters of Accountancy degree.
ASI Fact Sheet Revised and Available Online
"Strength & Trust - Your Insured Funds,"
an ASI fact sheet, presents a summary of pertinent information about the corporation and its primary deposit insurance program available to credit unions. The document has been updated recently and you and your credit union members can download the current version from the lower left of this ASI web page, or