ALBANY, N.Y. – SEFCU said it has acquired The Colonial Insurance Agency LLC, expanding its fledgling insurance business. Under the deal, Colonial will be folded into SEFCU Insurance Group, the credit union giant’s wholly owned CUSO, which offers long-term care, disability and term life insurance products. Colonial Insurance offers a variety of commercial and personal lines through several major carriers. SEFCU, formerly State Employees FCU, has over $1.5 billion in assets and is one of the largest credit unions in New York.
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