Michigan CUSO Acquires Insurance Agency
Lake Michigan Insurance Agency, a division of Lake Michigan Credit Union, has acquired Alpha Agency Inc.
The $3.1 billion credit union in Grand Rapids, Mich., said the merger deal represents a number of positive developments for the clients of both LMIA and Alpha Agency, also based in Grand Rapids.
Carlo Vanin, Alpha Agency’s president and owner, opened his shop in 1972 and specialized in restaurants, manufacturing and contracting during most of that time while maintaining a book of personal line and life and health clients, according to Lake Michigan.
The partnership will allow Alpha Agency’s clients to take advantage of a deeper product portfolio and expanded services through LMIA, according to the credit union.
“Alpha, as an agency, brings many years of industry expertise along with new markets that will enhance LMIA’s ability to offer quality products and services to its existing client base, as well as attract new clientele,” said Kenneth Jansen, LMIA vice president of insurance.
Vanin will remain on as an account executive and will continue to work with his existing clients, the credit union said.
The price of Alpha Agency was not disclosed.
In 2011, Lake Michigan’s LMIA bought VML Insurance Agency, a firm that offered a line of personal and business insurance plans and benefit packages.