The $851 million Arrowhead Credit Union has sold it insurancesubsidiary, Sawyer Cook Insurance, several publications recentlyreported.

Terms of the transaction, completed on Feb. 26, were notdisclosed. Arrowhead CU President/CEO Larry Sharp was not availableto respond to questions at press time. The San Bernardino,Calif.-based Sawyer Cook was sold to another unnamed insurancefirm, according to a March 1, 2010 article in The Sun.Darrel Olson, president/CEO of Sawyer Cook, was unavailable tocomment on the deal.

According to Sawyer Cook's Web site, the firm was founded in1924 in Redlands, Calif. under the name of Dexter, Sawyer RealEstate & Insurance. In 1960, it merged with Richard Cook, thecompany under the new nameplate Sawyer Cook Insurance. Arrowheadbrought the firm under its family of CUSOs in 2002 through theArrowhead Financial Group. In addition to business, personal andmarine insurance, the insurance firm also offered investment andfinancial planning services through the Arrowhead InvestmentCenter.