Insuritas, a provider of outsourced insurance agencies, said it has reached an agreement with Norfolk Municipal Employees Federal Credit Union to open an insurance agency.
The 2,500 member, $26 million cooperative in Norfolk, Va., said it researched the various options for providing insurance products to its members including building a new agency complex from scratch, purchasing an existing agency, or partnering with a third party.
“It was clear that we needed to provide an insurance solution to our member base in order to remain competitive as we realized that 100% of our members purchase insurance from someone every year,” said Duke Strosser, CEO of Norfolk Municipal Employees FCU.
Jeff Chesky, president/CEO of Insuritas in East Windsor, Conn., said providing insurance products to the credit union's members “is a natural extension of their core business and leverages the already powerful brand equity they've created in the market.”
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
