Glastonbury risk broker Smith Brothers Insurance has purchased the insurance agency operations of Charter Oak Federal Credit Union in Groton.
Smith Bros. paid an undisclosed sum for the assets of Charter Oak – The Insurance Professionals, Smith Bros. said Wednesday.
Smith Bros. will continue providing personal and business insurance and risk management services to Charter Oak insurance agency’s 50,000 customers, said Smith Bros. CEO Joe Smith.
The acquired agency will keep its offices at two Charter Oak branches on Chicago Avenue and Long Hill Road in Groton.
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Charter Oak Federal has more than $600 million in assets and 75,000 members in eastern Connecticut.
