From left to right, Scott Shults, Randall Vaughan center and his agent Charleen Turner to the far right. From left to right:, Scott Shults, Randall Vaughan and Charleen Turner. (Source: Riverways FCU).

Last month, the Rolla, Mo.-based Riverways Federal Credit Union expanded its field of membership area from four to 27 counties. This month, credit union officials announced a new kind of expansion: The acquisition of an insurance company.

In a statement, Riverways ($79.2 million in assets, 8,653 members) said it had successfully acquired Vaughan Insurance, LLC for an undisclosed amount. The new company, Riverways Insurance Services, LLC, will allow the credit union to offer its members a full line of insurance services. The new insurance company will be run by Randal Vaughan, according to the credit union.

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Michael Ogden

Editor-in-Chief for CU Times. To connect, email at [email protected].

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