The Independent Insurance Agents of America (IIAA) announced the launch of InsurBanc, a unique federal savings bank that consumers can access through their hometown-based independent insurance agents. As approved by the Office of Thrift Supervision (OTS), InsurBanc is authorized to operate in three states—New Jersey, Connecticut and Massachusetts. Headquartered in Farmington, Conn., InsurBanc offers consumers banking products such as auto loans, credit cards, home equity loans, mortgages, certificates of deposit and money market funds. For business clients, the Bank offers working capital lines of credit, commercial real estate loans and cash management services. Customers can transact business with InsurBanc whenever and wherever they wish—on the web, fax or phone. InsurBanc is a wholly owned subsidiary of Peyton Street Independent Financial Services Corporation, a thrift holding company jointly owned by IIAA and W. R. Berkley Corporation and its subsidiaries.
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