DALLAS–The CUSO BenefisCU said Oregon Community Credit union (OCCU) has selected it to provide innovative executive benefits and business protection solutions.
BenefisCU was formed in 2021 in partnership with Goldenwest Credit Union, DollarAssociates, LLC., and seven other credit unions throughout the United States.
“Credit unions are one of the fastest growing marketplaces for non-profit executive benefits but have not typically had the opportunity to participate in, or realize revenue from, executive benefits and business protection sales,” the CUSO said. “In fact, over the past decade credit unions have provided for-profit, publicly traded brokerage firms with more than $1 billion in commissions, primarily because the resources necessary to provide advanced insurance solutions such as executivebenefits and business protection insurance were largely held captive by these for-profit organizations.”
Profit-Sharing Opportunity
BenefisCU said it provides participating credit unions a profit-sharing opportunity to market advanced insurance solutions to their credit union executives, commercial account holders and peers.
“BenefisCU offers a comprehensive suite of products and services as well as the analytical and technical know-how to effectively deliver them,” said Oregon Community Credit Union President and CEO Ron Neumann. “We are truly excited to be in partnership withTriscendNP and the other leading credit unions to help create awareness and deliver these solutions to our industry.”
BenefisCU offers executive benefits, business protection insurance, split dollar retirement plans, 457f deferred compensation, Credit Union Owned Life Insurance (CUOLI), “Section 162” bonus plans, executive disability, long-termcare, and advanced insurance protection packages for business owners.
‘Honored & Delighted’
"We are honored and delighted to partner with OCCU on this initiative,” said Dale Edwards, principal at TriscendNP. “Ron’s strategic vision and innovative spirit combined with the credit union’s industry-leading performance makes OCCU an outstanding partner for BenefisCU.”