What is an insurance agency merger?
An insurance agency merger refers to the combining of two or more insurance agencies into a single entity.
Why do insurance agencies merge?
Insurance agencies may merge for various reasons, including increasing operational efficiency, expanding their client base, or creating a market advantage.
Why are Cannella and Achieva Insurance Agencies merging?
The merger allows a broader range of insurance product options and increased development for agency resources.
When will the partnership become official?
The date of the merger will be July 5, 2023.
Who is Achieva Credit Union?
Achieva Insurance Agency LLC is a subsidiary of Achieva Credit Union (ACU). Founded in 1937, ACU has 25 branches along Florida’s Gulf Coast and continues to grow. ACU provides checking and savings accounts, loans, credit cards, and other exceptional financial products and services.
Will Cannella Insurance change offices or move?
No, the agency has no plans to move offices after the merger.
Will my policy cost more?
No, carriers set the rate.
Will my cover change?
No, your policy terms will not change during the effective dates of your coverage.
Will Joe Cannella and his team still work at the agency?
Yes, Joe Cannella and his team will remain with the agency, and there are plans to hire additional team members.
What will happen to my assigned agent or representative after the merger?
Your agent or representative may choose to transition to the newly merged agency. If they do not, you will be assigned a new point of contact, which the agency will communicate.
Will this cause service interruptions?
No. You will continue to receive the same high-quality insurance services without interruption.
Where do I mail my payments?
Please continue making payments to the same address as you have previously.
Can I conduct insurance business within an Achieva Credit Union branch?
Not at this time, but soon. The agency plans to instill team members into the branches to assist both new and existing customers.
As an existing Cannella customer, will the membership fee be waived if I want to join Achieva Credit Union?
Yes. We will waive the fee to join Achieva Credit Union for all new and existing agency customers.