The $377 million Connex Credit Union in North Haven, Conn., said its Connex Insurance Services has purchased CPM Insurance Services in Cheshire, Conn.
CPM is a full-service independent insurance agency providing personal and business coverage and its current employees will remain in place with no changes in service to its existing customers, Connex said.
“This new partnership is a part of the Connex’s strategic process of expanding services into property and casualty insurance,” said Connex President/CEO John Edwards. “We have a proud history of being a leader in the local financial services industry for more than 70 years and we look forward to expanding that to our new insurance group.”
Connex Insurance Services was opened in 2010. Its parent credit union now has about 45,000 members and six branches in the New Haven area. Membership is open to anyone who lives, works, attends school or worships in New Haven, Hartford or Middlesex counties.