Insuritas Agency Solution Leveraged To 16 New Credit Unions Through Central Star Financial Solutions - A CU Owned CUSO
EAST WINDSOR, Conn., Feb. 14, 2013 /PRNewswire via COMTEX/ --
Central Star Financial Solutions (CSFS) located in Wichita, Kansas partnered with Insuritas in 2011 to provide its turnkey insurance agency solution to the members of Central Star Credit Union. After that early success, Insuritas worked with CSFS to deliver its turnkey insurance agency solution through CSFS to 16 additional credit unions to provide these partner credit unions with a full line of insurance products for their members use through the CSFS Agency complex. The newest credit union to partner with CSFS is Medical Community Credit Union in Wichita. "We want to serve our members well. This partnership will help us do that," says MCCU president Larry Schmitz.
"Our focus on growth during 2013 includes offering a revenue stream to our partner credit unions for auto and home policies we issue on behalf of their members," says Matthew Hamm, Central Star Financial Solutions, CEO. "It's another value credit unions can offer their members." CSFS staff offers insurance products and free quotes to every member who closes a mortgage. "Because CSFS serves credit union members throughout the state of Kansas, the cross-selling opportunity is unique," says Hamm. "We will be assisting partner credit unions in marketing our insurance products, and providing valuable tools for members, such as an online Quick Quote function that was pioneered by Insuritas."
According to Jeffrey Chesky, CEO at Insuritas, "In the credit union community, larger credit unions are using their CUSO's to extend product and service capabilities to some of the smaller credit unions in their market, allowing credit unions like Medical Community Credit Union, at $17 million in assets, to offer the products and services of a larger financial institution without the investment of capital these solutions often require." Chesky continued, "Matt Hamm and the team at Central Star Financial Solutions have been incredible to work with, allowing us to extend our turnkey insurance agency solution through their CUSO to 16 credit unions that we would not have been able to service directly."
Central Star Financial Solutions is a CUSO (Credit Union Service Organization) located in Wichita, Kansas, that provides mortgage and insurance products to credit unions and their members. The credit unions currently partnering with CSFS are: Ark Valley CU, Bell CU, Bluestem Community CU, Catholic Family Federal CU, Campus CU, Central Star CU, Crossroads CU, Hutchinson Postal & Community CU, Kansas Air Guard CU, Kansas Blue Cross Blue Shield CU, Medical Community CU, New Century CU, Parsons Pittsburg CU, Topeka City Employees CU, Topeka Police CU, and Veterans Administration CU. The products include mortgage originations and a full service, independent insurance agency.
Insuritas enables banks and credit unions to own a complete insurance agency solution without the significant capital investments required to build or buy an agency, or the inherent operational risks. Through a cost-effective outsourcing service, financial institutions leverage Insuritas' proven, end-to-end insurance agency solution. Insuritas is located in East Windsor, CT. Additional information is available at www.insuritas.com.
SOURCE Insuritas, Inc.
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