A pilot program designed to help small business owners save timeand effort while getting helpful advice about essential insuranceproducts and financial services has been created by Synergy CreditUnion and The CUMIS Group Limited.

The OnePlace For Business program starts with building a profileand understanding of the small business, followed by a review ofproduct offerings and solutions that could help the enterprise andits owner achieve their goals, according to the $1 billion Synergy CU in Burlington, Ontario in Canada.

Working in conjunction with credit unions and their wealthmanagement teams, CUMIS will offer a full suite of insuranceproducts to protect the business, including creditor insurance andkey person insurance, which provides the financial means to allowthe business to carry on in the event of an owner's or importantemployee's death.

CUMIS is a partner to credit unions and their members forpersonal, financial and business protection, according to thecompany. Its principal companies are CUMIS Life Insurance Co., andCUMIS General Insurance Co., and it has a 50% interest inCredential Financial Inc. CUMIS is jointly owned by Co-operatorsLife Insurance Co. and the $88.7 billion Central 1 Credit Union in Victoria British Columbia,Canada.

In 2009, the Co-operators, along with Central 1 CU, boughtCUMIS. The insurance firm was once majority-owned by CUNA Mutual Group.

Building upon the initial pilot at Synergy CU, CUMIS will launchthe OnePlace For Business program at additional credit unions inthe months ahead, according to both entities. The program will helpcredit unions further cement their reputation as the best bankingoption and adviser for small- and medium-sized businesses in Canada, both noted.

Synergy CU and CUMIS said a research report issued by theCanadian Federation of Independent Business in May 2013 showed thatcredit unions significantly outperformed the big banks when itcomes to serving the financial needs of small- and medium-sizedbusinesses.

“We want to provide our members with an exceptional experienceand to ensure our members are well-informed of the advisoryservices and solutions offered through our Wealth Management teamin conjunction with our Business Banking Centre and Small BusinessRelationship Managers,” said Brent Bergen, chief operating officerof Synergy CU.