Andrew Agencies Ltd. of Virden will add five more locations to its burgeoning multi-line brokerage empire this fall.
As of Nov. 1, Andrew Agencies will acquire Four Corners Associates and Hatfield Financial and Insurance Services Inc. from VCU Financial Inc., a subsidiary of Sunrise Credit Union Limited.
The acquisition adds the Hatfield Financial and Insurance offices in Hamiota and Brandon and the Four Corners offices in Reston, Oak Lake and Virden to the existing Andrew Agencies office network.
With this purchase and the June 1 acquisition of Clark and Son Agency in Boissevain, Andrew Agencies now has 18 locations in southeastern Saskatchewan and southwestern Manitoba.
Due to recent regulatory changes affecting credit unions, it became necessary for Sunrise Credit Union to divest these two holdings.
“It was unfortunate that regulation changes forced us to divest these two businesses as they were well managed, going concerns for our organization,” said Sunrise CEO Harry Bowler.
“Once the decision to divest was made, our objectives were to maintain local ownership and ensure the clients were well looked after.
“After meeting with the ownership group of Andrew Agencies, it became apparent that we found a purchaser that not only met our local objectives but they would also continue to offer excellent service and choice our clients deserve.”
Andrew Agencies is excited to be adding the locations, president and CEO Scott Andrew said in predicting a seamless merger.
“In working through this sale with the Sunrise management team, we soon realized both sides shared the same goals in this transaction when it came to the clients and staff. That being said, we anticipate a smooth transition for both as we merge the operations.”
Andrew Agencies Ltd. was established by the Andrew family in 1913 as a general insurance and travel agency in Virden. Today, it is a multi-line brokerage selling insurance, financial services, travel and real estate.
Sunrise Credit Union Limited is the result of the membership of five legacy credit unions voting to amalgamate Tiger Hills, Cypress River, Hartney, Turtle Mountain and Virden Credit Unions in 2008.
Sunrise offers financial services in 13 communities throughout southwestern Manitoba.
Republished from the Brandon Sun print edition September 19, 2013