Insurer Gets CU Charter

Register now

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.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER