Norfolk Municipal Employees FCU to Open Insurance Agency
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.”