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ESI's Game-Changing Deposit Insurance Shields Military Finances Overseas


Lauren Miller

April 3, 2024 - 15:22 pm


ESI Bolsters Financial Security for Military Personnel with Private Deposit Insurance for MBFs

DUBLIN, Ohio, April 3, 2024 /PRNewswire/ -- Excess Share Insurance (ESI), a prized entity of American Share Insurance (ASI), made a pivotal announcement today emphasizing its commitment to supporting the United States military personnel. The company proudly reveals its latest undertaking to provide private deposit insurance for Military Banking Facilities (MBF) operating under the banner of "Community Bank" across Europe and the Pacific. The initiative is part of the Department of Defense (DoD) Overseas Military Banking Program, aimed at catering to the fiscal needs of service members far from their homeland.

For many years, MBFs have stood as a financial pillar for military members and their families, ensuring uninterrupted access to financial tools and amenities. The presence of these institutions serves as a beacon, providing financial comfort and accessibility to those stationed in distant and often challenging environs. Featuring a robust network of services, the 60 branches and 272 ATMs located on bases are critical in fulfilling the banking requirements of military affiliates and upholding their financial well-being.

Theresa Mason, the esteemed president and CEO of ASI and ESI, expressed her thoughts on the profound influence this new venture would have on the Overseas Military Banking Program's success. Mason further highlighted ESI's wealth of experience and formidable reputation for providing top-tier private deposit insurance. This strategic move not only amplifies the program’s capability to achieve its noble mission but exhibits ESI's unwavering commitment to safeguarding service members' deposits. Mason elucidated, "Our efforts reiterate the very tenet of our mission—equipping financial establishments with the adaptability to accomplish their own objectives. We take immense pride in being a crux of support to the military community's banking needs, especially as they perform their duties overseas."

Since its inception in 1993, ESI has risen as a trusted partner for numerous financial institutions, instilling tranquility in customers who rest easy knowing their deposits are shielded by a secure, credible, and intelligent alternative to federal insurance. At present, ESI extends its protective umbrella over approximately 300 financial entities of varying magnitudes, overseeing insured deposits that surpass the $6 billion mark. An impressive and unblemished track record accompanies ESI’s storied past, one where no depositors have ever suffered losses in ESI-insured accounts—a testament to the organization's staunch reliability and integrity.

Highlighted further by Mason was ESI's conscientious monitoring and review process—a foundation that enables the construction of tailored insurance programs that align with the bespoke needs of clients. Mason assures that with ESI's support, those depending on the Community Bank can be certain that their hard-earned deposits remain secure and intact. ESI distinguishes itself by offering enhanced protection measures, insuring up to $250,000 per account holder—a noteworthy step up from the industry's conventional safeguard of $250,000 per individual.

Earning its licensing credentials from the Ohio Department of Insurance, ESI stands authorized to insure deposit accounts with sterling professionalism. The insurance coverage will extend to the MBFs managed by Navy Federal as of April 1, 2024, providing unwavering deposit protection. In contrast, the deposits within Navy Federal Credit Union will maintain their insurance coverage under the National Credit Union Administration.

In a world where financial security can be as fluctuating as the tides, ESI's recent expansion into providing private deposit insurance for Community Bank reflects a dedicated effort to anchor the financial stability of those who serve. It sends a powerful message of commitment to the safety and assurance of the men and women in the military, who frequently find themselves in uncertain and remote locations in service of their country. By ensuring that their financial security is well managed, ESI empowers them to focus on their critical duties with one less worry on their minds.

By stepping into this new role, ESI reaffirms its stature as a leader in the domain of deposit insurance, one that does not merely provide a service but embodies the spirit of support and protection for those who most need it. The impact of this strategic move will be both immediate and far-reaching, sending ripples through the military communities across Europe and the Pacific, reinforcing the trust and confidence our service members place in their financial establishments.

For those seeking further information regarding Excess Share Insurance and their extensive services, please visit the official source provided below to learn more about how they make a difference in the financial assurance of military personnel and institutions worldwide.

Excess Share Insurance Logo

SOURCE Excess Share Insurance (ESI)

In closing, the expansion of ESI’s services is not only a boon for service members who will benefit directly from enhanced financial security, but it also continues to fortify the structure of private deposit insurance. It signals a move towards innovative solutions in financial safety nets, tailor-made to meet the challenges faced by the modern-day warrior. With this step, ESI not only solidifies its position in the financial services industry but also joins the ranks of those organizations that are making tangible contributions to the lives of American heroes who serve across the globe. Through this endeavor, ESI is poised to serve as a vital cog in the wheel that turns towards the future of secure, accessible banking for every American soldier on foreign soil.

The provision of private deposit insurance for Military Banking Facilities signifies a leap forward in the way financial services are extended to our military personnel, setting the gold standard for financial peace of mind. This collaboration between ESI and the Department of Defense illustrates a dedicated pathway to achieving a noble mission—one that is truly about serving those who serve us all.

ESI’s visionary approach to the financial well-being of Community Bank's clientele underscores a crucial narrative: financial security is not just about protecting assets, it's about providing a stable and reliable environment for those who defend our freedoms. As ESI continues to innovate and expand its horizons, it will undoubtedly remain an integral part of countless military lives, securing their financial front so they can bravely secure our nation's borders.

In a broader context, the advent of private insurance coverage such as that offered by ESI, transcends the mere action of securing deposits—it cultivates a culture of trust and support between financial organizations and the communities they serve. For military families, this trust is paramount, especially when they are posted to far-flung bases away from the comfort of domestic shores. The assurance that their financial interests are being looked after by a reputable and dependable insurer can make all the difference in maintaining morale and focus on the job at hand.

In this important moment, the strategic partnership between ESI and the Department of Defense sets a new benchmark for the financial services industry. It shines a light on the significance of adaptable, responsive, and ultimately secure financial services, tailored to meet the exclusive needs of those who live in the service of their country.

As the legacy of Excess Share Insurance continues to grow, anchored on decades of unwavering commitment, the organization will no doubt innovate and uphold the banner of financial security for America's military personnel, today and into the future.


The announcement today from Excess Share Insurance not only signals a monumental stride in military financial support but also marks a new chapter in the legacy of personalized banking services. ESI's service extension reaffirms a steadfast dedication to those who dedicate themselves to serving our nation. It is through initiatives like these that the financial instruments of our society evolve to meet the ever-changing needs of the brave individuals in our armed forces, ensuring a solid foundation from which they can confidently serve.

Under the vigilant oversight of Theresa Mason and the expert team at ESI, the provision of private deposit insurance to Military Banking Facilities is poised to enhance the lives of our service members overseas. The future appears more secure, and with it, the morale of our military stands lifted by the knowledge that their financial needs are not just met but protected by an institution that respects and honors their service.

With this protective assurance in place, our servicemen and servicewomen can continue their vigilant protection of our nation, supported by the financial safety and certainty provided by ESI's insurance coverage.

For More Information:

To obtain further details about the services and insurance solutions offered by Excess Share Insurance (ESI), or for inquiries about how this initiative will affect service members and their families, visit the ESI Newsroom.

Readers interested in more information can access the full details through the provided link, ensuring a comprehensive understanding of this historic expansion in services tailored for our country's military prowess, safeguarding their financial interests as they protect our freedoms.