Credit Unions Merge Insurance Agencies

Nelson, BC - Three Kootenay based credit unions, East Kootenay Community, Kootenay Savings and Nelson & District recently joined forces to form a new insurance company.

Effective February 1, 2007 each of the three credit union owned insurance companies,
East Kootenay Community Insurance Services, Kootenay Savings Insurance Services, and Allard Insurance Agencies, will officially become Kootenay Insurance Services Ltd. All three will share equal ownership.

Brian Turlock, Senior Manager of Operations at Nelson & District, has been appointed CEO of the new company.

“The joining together of three Kootenay credit unions to create one insurance organization, will assist the credit union movement in the Kootenays to better serve its members”, said Doug Stoddart, CEO of Nelson & District Credit Union.

The partnership brings together the expertise and knowledge of three successful and well-established agencies. The synergy created by the merger positions the credit unions well to deliver auto, property and travel insurance in an increasingly competitive environment. The new insurance company will have offices in Trail, Nelson, Crawford Bay, and Cranbrook and will focus on product enhancement and expansion opportunities.

Collectively, the three credit unions, employing 366 staff, serve over 61,000 members, operate 19 branches, 10 financial planning offices and 4 insurance agencies throughout the East and West Kootenays.

For more information contact:

Doug Stoddart
CEO, Nelson & District Credit Union
250-352-7207

Added on March 14th, 2007

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