Old Hickory Credit Union hires Insuritas to launch insurance agency
Turnkey Insurance Agency will be Generating Fee Income in 90 Days
EAST WINDSOR, CT (November 6, 2013) — Insuritas, the nation’s top ranked provider of turnkey insurance agencies, announced it has been hired by Old Hickory Credit Union ($208 million in assets) located in Old Hickory, TN to open a turnkey insurance agency for the benefit of its over 28,000 members.
Jeff Chesky, President and CEO of Insuritas, noted: “Old Hickory management wanted to own a turn-key insurance agency solution that could serve as a natural extension of their core business and leverage the powerful brand equity and trusted relationships they’ve created in the market.” Chesky added “Old Hickory has a very successful CUSO, Member Advantage Corporation, LLC (MAC) that is currently operational. Our deployment team will have Old Hickory’s new full service insurance agency up and operational inside MAC within 90 days. Rather than building a new agency from scratch or purchasing an existing agency Old Hickory’s leadership team concluded that Insuritas, with itsLoanINSURE® and SmartCART Technology℠, was the best solution .”
Bonnette Dawson, President & CEO of Old Hickory Credit Union stated: “We are excited to partner with Insuritas. We wanted to offer an insurance agency solution that would provide all the insurance products our members might need for their financial security, all in a one-stop shopping experience. Through this partnership we own the agency, control the entire member experience, and eliminate the confusion of connecting our members to multiple third party vendors.”
Martin Lombardini, Old Hickory’s CUSO Manager has plans to take the Agency downstream to smaller CU’s that are currently connected to the CUSO; “Our CUSO, Member Advantage Corporation (MAC) is perfectly positioned to deliver our agency solution to smaller Credit Union’s in our market that might not have the member base or balance sheet to embark on this kind of solution directly.”
CEO Dawson added: “The Insuritas solution allows us to deliver on our promise; …
Making a positive difference in our neighbors lives.”
Insuritas enables financial institutions to own an insurance agency solution without the significant capital investments or operational risks of building or buying an agency. Through its award winning solutions, financial institutions leverage Insuritas’ proven, end-to-end insurance agency solution. Additional information is available at www.insuritas.com.
About Old Hickory Credit Union
Old Hickory Credit Union serves more than 28,000 members and has over $208 million in assets. Additional information is available at www.ohcu.org.