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Nearly eight years after the $851 million Arrowhead Credit Union bought a firm to bring a plethora of insurance services to its membership, it recently announced that losses and lackluster profits led to the cooperative selling the subsidiary.

The San Bernardino, Calif.-based Arrowhead sold Sawyer Cook Insurance for an undisclosed price on Feb. 26, the CU’s CEO, Larry Sharp, confirmed with Credit Union Times. The firm was acquired by First Line Insurance Services, which has offices in southern California and Colorado and clients nationwide. FLIS negotiates with large and small insurance providers to bring services to its clients and is a direct managing general agent for Lloyds of London, according to Arrowhead.

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