SYOSSET, N.Y.—A new independent financial services company that will offer credit unions and other non-profits “cost effective benefits plans to attract and retain talent” has been formed.
Called PARC Street Partners—the PARC stands for Plan, Attract, Retain, Compensate, which it sai are its guiding principles when implementing SERPs, the company was formed by Christopher J. Jones and Bruce D. Smith, along with Tim Strandquist, Tammy O’Hara, and Kirk Kordeleski.
Support staff include a client services team made up of Nicole LaCorte, Emily Barrows and Lori Caracappa; design analysts Andrew Smith and Matthew Smith, a marketing team of Joseph Byers and Lori Rodriguez, and new business coordinator, Dawn Smith.
“This team has been operating independently as part of OM Financial Group for the last 10 years and, as PARC Street Partners, will continue to provide the same products and sterling service that has made their reputation in the industry,” the company said in a statement.
Added Smith, “PARC Street Partners is a new company founded on a very old idea,” says Smith. “Solving problems for customers is good business. Our team will carry on providing great Supplemental Executive Retirement Plan (SERP) solutions for credit unions as well as the same, if not more exceptional, service that our clients have come to expect.”
The company noted Jones and Smith have more than five decades of financial services experience, most recently as senior partners with OM Financial Group, where they put together the team that is forming the new venture.
‘What We Envisioned’
"What they have been able to do is what we envisioned when we founded OM Financial," Joe Malouf, co-founder of OM Financial Group, said in a statement. "They have increased their reputation and ours for years and now have their own company. They can service their clients using their own unique methods."
PARC Street Partners said it offers both types of SERP options available to the non-profit world, Collateral Assignment Split Dollar plans as well as 457(f) plans.
In addition, it will continue to provide educational webinars to the credit union industry.
Multiple Offices
PARC Street Partners is based in Syosset, NY with offices in South Carolina, Texas, Florida and Massachusetts and said it has the capability to serve credit unions and non-profits nationally.