Connex CU Buys CPM Insurance
Connex Insurance Services, a division of Connex Credit Union, announced it recently purchased CPM Insurance Services.
“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. “CPM will continue to serve their customers seamlessly with the highest level of service supported by the strong financial backing of Connex.”
Based in Cheshire, Conn., CPM is a full-service, independent insurance agency providing a complete range of personal and business insurance coverage. CPM’s founders Frank Pellegrino and Dave Qerim will continue as agency principals. All current CPM employees will continue and clients will continue to be served without changes in service.
Connex Insurance Services was founded in 2010 to offer credit union members an array of insurance products and services. Connex Credit Union, based in North Haven, Conn., serves 40,000 members and has assets of $373 million.