CU Times Senior Staff Reporter
NAPA, Calif. — Addison Avenue Financial Partners was considered among the trailblazers within the credit union industry after it acquired Essex National Securities Inc., an investment services broker-dealer, in March 2006.
A subsidiary of $2 billion Addison Avenue Federal Credit Union, AAFP bought Essex from New York-based Essex Corp. Financial Partners. Essex now manages $5.1 billion in assets for serves 28 credit unions and banks. Nearly 50,000 member accounts were converted following the acquisition.
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