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Article: United States : ACU Acquires Stake In Insurance Brokerage.
- Article from:
- TendersInfo
- Article date:
- August 24, 2009
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Byline: pinto03
Assiniboine Credit Union has purchased 50% of insurance brokerage firm, Winnipeg Insurance Brokers (WIB) reported Winnipeg Free Press.
Tony and Cathy Rollo, who have owned the 40-year-old firm since 1994, will retain a 50% stake in WIB and will continue to run the day-to-day operations. The company has two locations and 11 employees.
Credit unions, like banks, are not allowed to sell insurance in their branches, but they are allowed to own insurance brokerage firms. Several other Manitoba credit unions own or have interests in the insurance business.
Winnipeg Insurance Brokers has had a long-standing ...