METAIRIE, LA (November 27, 2024) |
OnPath Federal Credit Union (OnPath) proudly announces the availability of Excess Share Insurance (ESI), providing deposit coverage of up to $1 million per account. This enhanced coverage is made possible through recent changes to Louisiana insurance law, marking a major advancement in financial security for OnPath members.
OnPath is among the first in the state to seize this opportunity, ensuring financial peace of mind for its members with larger balances.
The introduction of ESI comes as part of OnPath's commitment to safeguarding its members’ hard-earned savings. With traditional deposit insurance from the National Credit Union Administration (NCUA) capped at $250,000, many individuals, families, and businesses have struggled to find ways to protect their savings fully. ESI changes that by providing an additional $750,000 in coverage, giving OnPath members up to $1 million in total insured deposits.
"We know our members work hard to build their savings, and protecting that is our top priority," said Jared Freeman, CEO of OnPath Federal Credit Union. "We’re not just raising the bar for deposit protection — we’re setting a new standard for financial peace of mind in the regions we serve."
In today’s uncertain economic climate, financial security is more important than ever. The added coverage ensures members can focus on their financial goals without worrying about the safety of their deposits.
To explore how OnPath Credit Union is protecting its members’ financial futures with Excess Share Insurance, visit www.beonpath.org/excess-share-