Security Service Federal Credit Union closed on the acquisition of Utah First Title Insurance Agency this week.
Founded in 1956, Security Service is a national credit union with 67 locations in Texas, Colorado, and Utah. In addition to providing a wealth of financial products and services, including insurance and investments, the Credit Union owns the full-service subsidiary Security Service Title Company.
“When looking to expand our Title Services, it only made sense to do so in the areas we currently serve,” said Charles Goss, Executive Vice President, and Chief Lending Officer for Security Service Federal Credit Union. “The acquisition of Utah First Title Insurance Agency will allow us to provide title insurance and settlement services for both homeowners and businesses in the Utah market.”
An independently owned and operated title agency located just south of Salt Lake City, Utah, First Title Insurance Agency wanted to find the right fit for its employees and customers. “Security Service not only shares our same core values, but their leadership is also making sure our employees and their families are taken care of during the transition, which is important to us,” said Mark Schroeppel from Utah First.
As a full-service title agency in Utah County, the company will maintain operations under the Utah First Title Insurance Agency name. Turk & Company, a mergers and acquisitions firm, was the exclusive investment banker representing Security Service in the transaction.
“This is another milestone achievement for our team and highlights our growing practice as financial advisors to institutions who seek title expertise as part of Investment Banking,” said Howard Turk, Founder and Managing Director of Turk & Company.