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Western Financial acquires CCIS

A memorandum of understanding between Coast Capital Credit Union and the Desjardins Group to share expertise in product and services has been strengthened by the sale of Coast Capital’s insurance subsidiary, Coast Capital Insurance Services, to Western Financial Group.

Western Financial, owned by Desjardins, will help CCIS grow further, says Coast Capital CEO Tracy Redies. “When we decided to concentrate our resources on our core banking business, our goal was to find a partner who would help CCIS grow further and reach its full potential.” Redies says, “Coast Capital and Western have similar values and a commitment to our people, our customers and our communities.”

Under the terms of the agreement, CCIS branches will continue to operate under the CCIS name and branding for at least two years. ◊