Charter Oak FCU CUSO Sells Its Insurance Operation
The $635 million Charter Oak Federal Credit Union has sold the assets of an insurance firm operating through its CUSO.
On Sept. 1, Charter Oak in Groton, Conn., sold the assets of Charter Oak-The Insurance Professionals to Smith Brothers Insurance Inc., a Glatonsbury, Conn.-based insurance adviser and agent firm with more than 100 employees. The sale price was not disclosed. Charter Oak-The Insurance Professionals was previously owned by SCCT LLC, a CUSO of COFCU.