Skyla Insurance Services Acquires Policyline Insurance

Expands cost-efficient insurance product portfolio and employee benefits consulting for Skyla Credit Union members and corporate accounts.

CHARLOTTE, February 4, 2025 – Skyla Insurance Services, LLC, a subsidiary of Skyla Credit Union, today announced the acquisition of Policyline Insurance, a leading provider of cost-efficient insurance products and employee benefits consulting services. This strategic acquisition enhances Skyla Insurance Services’ product portfolio and deepens its commitment to delivering comprehensive insurance solutions to Skyla Credit Union’s corporate accounts and sponsor companies.

Geoff Ricks, owner of Policyline Insurance, has been appointed President of Skyla Insurance Services, effective immediately. As part of this acquisition, Policyline’s experienced team will join Skyla Insurance Services, ensuring seamless service continuity and an expanded product portfolio for Skyla Credit Union’s members and sponsor companies. Their expertise in designing employee benefit plans that attract and retain top talent while aligning with budget targets complements Skyla’s offerings. The Policyline Insurance name will continue to be used in the marketplace for the integrated organization’s group benefit services.

“I am excited to join Skyla Insurance Services and contribute to the continued growth and success of our organization,” said Geoff Ricks, President of Skyla Insurance Services. “Policyline Insurance has always been committed to providing top-tier service and customized insurance solutions, and now, as part of Skyla Insurance Services, we are able to offer even more value to our clients. This acquisition allows us to broaden our reach and serve the needs of Skyla Credit Union’s members, corporate accounts, and sponsor companies with enhanced offerings that align with their unique needs.”

"We are thrilled to welcome Policyline to the Skyla Insurance Services family,” said Ray Crouse, President of Skyla Financial Solutions. “This acquisition marks a significant step in our ongoing efforts to expand the services we provide to our members and corporate partners. By integrating Policyline’s expertise and resources, we are better positioned to offer comprehensive insurance solutions that meet the diverse needs of our clients, all while enhancing the value we deliver to Skyla Credit Union’s members."

Skyla Financial Solutions was assisted in the transaction by Capstone Strategic, Inc. “Capstone provided valuable support throughout the acquisition process, helping to navigate any complexities and ensure a smooth transaction,” added Crouse. “Their expertise in credit union service organization M&A and understanding of our strategic goals were instrumental in completing this deal. We’re very pleased with the outcome and look forward to the opportunities this acquisition will bring to Skyla and its members."

The transaction closed on January 2, 2025, and is now effective.

about policyline insurance

Based in Cornelius, N.C., Policyline Insurance delivers over a dozen strategies to help clients strike the perfect balance of maintaining an employee benefit plan that helps recruit and retain top talent while hitting the necessary budget targets. For more than 22 years, Policyline Insurance has offered health insurance, dental and vision plans, Medicare Advantage and Medicare Supplement plans, and prescription drug plans to businesses and individuals in the greater Charlotte, N.C. region. For more information, visit www.policyline.com.

about skyla insurance services, llc

Skyla Insurance Services, LLC, a wholly owned subsidiary of Skyla Credit Union, provides a full suite of insurance offerings to individuals and corporate clients. Skyla Insurance Services leverages its deep understanding of the financial and insurance markets to deliver tailored solutions that help protect the assets and financial well-being of its clients.

about skyla credit union

Skyla Federal Credit Union is a full-service financial institution dedicated to improving the financial lives of its members through innovative solutions and exceptional service. Based in Charlotte, NC, and rooted in the Carolinas, Skyla is a trusted partner for individuals and businesses alike. As a not-for-profit cooperative wholly owned by its members, Skyla serves more than 103,000 members with over $1.4 billion in assets and operates 18 branch locations throughout the region. Learn more at www.skylacu.com.