MIDDLETOWN, Pa. — Mid-Atlantic Corporate Federal Credit Union announced today the formation of a new CUSO, Sollievo Group LLC, to offer benefits and insurance services to credit unions.
Sollievo Group will offer a range of retirement programs including 401(k), executive and defined benefit pension plans and will work with credit unions looking to divest their those plans, according to the corporate. On the insurance side, Sollievo Group plans to offer credit union bond coverage, directors and officers, commercial and professional liability coverage as well as property and casualty insurance.
Ed Fox, retiring CEO of Mid-Atlantic Corporate, will head the new CUSO.
"I feel very strongly that there is a need for credit unions to have access to fairly priced, structured packages that focus on their specific concerns and challenges," Fox said. "With my retirement from Mid-Atlantic, I now have time to focus on developing this CUSO."
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