BURLINGTON, ON, Nov. 7, 2013 /CNW/ - A new pilot project could soon help
credit unions widen their lead over banks when it comes to serving
small- and medium-sized businesses in Canada. The OnePlace For BusinessTM program was designed to help small business owners save time and effort
while getting helpful advice about essential insurance products and
financial services. Synergy Credit Union, providing 11 branches in
northwest Saskatchewan, recently partnered with The CUMIS Group Limited
(CUMIS) to launch the first pilot of the program, which will help
entrepreneurs protect themselves, their business, employees and loved
ones with comprehensive, affordable solutions.
"As one of Synergy Credit Union's key initiatives of 2013 is to increase
awareness of the products, services and benefits offered through the
Wealth Management team, we were excited earlier this year when CUMIS -
a valued and trusted partner - presented us with an opportunity to
pilot the OnePlace For Business program," said Brent Bergen, Chief
Operating Officer of Synergy Credit Union. "We want to provide our
members with an exceptional experience and to ensure our members are
well-informed of the advisory services and solutions offered through
our Wealth Management team in conjunction with our Business Banking
Centre and Small Business Relationship Managers. Through this new
program, we are excited for the opportunity to enrich our members'
experiences - today and into the future."
Building upon the initial pilot at Synergy Credit Union, CUMIS will
launch the OnePlace For Business program at additional credit unions in
the months ahead. The program will help credit unions further cement
their reputation as the best banking option and advisor for small- and
medium-sized businesses in Canada. A research report issued by the
Canadian Federation of Independent Business in May 2013 showed that
credit unions significantly outperformed the big banks when it comes to
serving the financial needs of small- and medium-sized businesses.
"Business owners are busy people, and they need to have a solid plan in
place that will make them resilient during different phases of the
company's growth and development," said Bob Hague, President, Credit
Union Distribution at CUMIS. "The OnePlace For Business program is a
convenient, comprehensive program that helps them better understand how
to protect what they've worked so hard to achieve."
The OnePlace For Business program starts with building a profile and
understanding of the small business, followed by a review of product
offerings and solutions that could help the enterprise and its owner
achieve their goals. Working in conjunction with credit unions and
their Wealth Management teams, CUMIS offers a full suite of insurance
products to protect the business, including creditor insurance and key
person insurance, which provides the financial means to allow the
business to carry on in the event of an owner's or important employee's
death. It offers employee-focused products including Group Benefits,
and Group RRSPs and Pension Plans - employee benefits that are
important to attract and retain top employees. And for the business
owner, individual life insurance solutions can support the business in
the areas of succession, tax management and estate planning.
About The CUMIS Group Limited
The CUMIS Group Limited is a trusted partner to credit unions and their
members for protection - personal, financial and business. CUMIS'
principal companies are CUMIS Life Insurance Company and CUMIS General
Insurance Company, and it has a 50 per cent interest in Credential
Financial Inc. CUMIS is jointly owned by Co-operators Life Insurance
Company and Central 1 Credit Union.
About Synergy Credit Union
Synergy Credit Union is a member-owned financial institution serving
more than 27,000 members from 10 communities within north-western
Saskatchewan. Synergy Credit Union is the fourth largest credit union
in the province of Saskatchewan and is one of the leading credit unions
in Canada, with more than $1 billion in assets. Synergy Credit Union
provides core banking services through the traditional branch network,
the Canada-wide AccuLink ATM network, online banking, automated
telephone banking, mobile web banking, as well as through the Member
Contact Centre and by SMS texting. More complex and advanced services,
such as financial advice and analysis, are delivered by specialists who
may be located in select branches or available to meet in a location of
the member's choice, by request.
TM OnePlace For Business is a trademark of The Co-operators Group Limited
and is used under license.
SOURCE: The Co-operators
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