Leading insurer The Co-operators has formed a strategic alliance with Aldergrove Credit Union, demonstrating the values of of principle six – co-operation among co-operatives.
The strategic alliance will see The Co-operators’ products and services offered to the credit union’s clients in Aldergrove, Abbotsford, Langley and Mission, in British Columbia’s Fraser Valley.
The Co-operators, based in Guelph, Ontario, will be the exclusive provider for the credit union’s insurance subsidiary, Aldergrove Insurance Services.
Clients’ existing insurance coverage will remain in effect with no changes to their premiums or coverage for the current term of their policies. As current policies expire, clients will be offered comparable policies from The Co-operators.
“We’re very pleased to be able to embark on this new chapter with The Co-operators,” said Aldergrove chief executive Gus K. Hartl. “This strategic alliance ensures that our insurance operations will be at the forefront of delivering insurance services in Canada through the integration of The Co-operators omni-channel systems. This will benefit our members, clients, our communities and our employees.”
The deal follows a history of co-operation between the two organisations, which has seen The Co-operators provide Aldergrove with creditor and individual life products via its credit union-focused subsidiary, The CUMIS Group Ltd.
“Aldergrove Credit Union is a natural fit for us as we share common values, and are both committed to supporting the communities in which we do business,” said The Co-operators chief executive Rob Wesseling.
“We look forward to a successful alliance, which showcases how co-operative organisations can work together to better serve their members.”