Insurer Gets CU Charter

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NCUA said it approved a charter for Cornerstone National Insurance FCU, the first new federal credit union chartered in Missouri in 14 years.

The new credit union will serve employees of Columbia, Mo.-based Cornerstone Management Partners, Inc., its wholly-owned subsidiaries and insurance agents under contract with Cornerstone Management Partners, Inc. and its wholly-owned subsidiaries. Cornerstone Management Partners is supporting the credit union with low-cost office space, staff support and a substantial grant to offset start-up costs, while Rolla FCU, in nearby Rolla, will act as a mentor for the fledgling institution.

It is just the seventh federal credit union, and 10th overall, chartered so far this year.

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