Country Financial Enters Chicago Market, Names Fisher as Director

Rural company comes back to its roots in the big city

Veteran Chicago financial services executive Michael Fisher has been appointed director of new market development by Country Insurance & Financial Services and will manage its newly created Chicago district offices. Fisher’s hiring as director of new market development accelerates the organization’s plans to offer insurance and investment products in Chicago for the first time in its 80-year history.

Fisher, 48, spent 25 years in various management positions with Harris Bank N.A., culminating with his appointment as market president in the company’s South Suburban market. Prior to this position, he was responsible for 25 banking locations within the city of Chicago in his role as vice president and regional operations manager.

In the following interview with Insurance Journal, Michael Fisher discusses Country Financial and its move back into the Chicago market.

IJ: Country Financial recently celebrated its opening of an 8,000 square foot office at 55 W. Monroe in Chicago and another office in a trendy north side neighborhood on Belmont Ave. What is the motivation to move back into the urban market?

Michael Fisher: The original headquarters for Country Financial actually began in Chicago, but in 1961 the company decided to move to Bloomington, Ill. Our sweet spot has always been rural America and the small business client, but as time has gone on we are seeing Chicago as great market and a market that is right in our backyard. It is time be a player again and our strategy is to move forward and be a viable part of the Chicago market.

IJ: What types of products will Country Financial sell in the urban area?

Fisher: Ideally we are interested taking care of the “whole” customer. We want to provide overall financial security by selling retirement products, college financing, life, home and auto and investments. In addition we want to be good neighbors in the neighborhoods we are serving. For example, Country donated $75,000 this year to the Chicago Urban League Entrepreneurship. We plan to be engaged and involved in the city neighborhoods through organizations and foundations that help these neighborhoods grow and prosper.

IJ: Where will the other offices for Country be located in the Chicago area?

Fisher: In addition to the Monroe Street and Belmont Ave. offices there will be branches in Chicago’s south side neighborhoods of Beverly and Bridgeport. As our CEO John Blackburn said earlier this year, eventually Country will have 20 Chicago locations and about 100 employees. We expect to be serving the entire metro by the end of 2009.

The company already has a major presence in collar areas, serving 60 Chicago-land communities from 80 offices. It also has a small base of customers who have moved into the city from current markets and maintained their relationship with Country.

IJ: Country Finan-cial has captive agents, do you also sell through independent agents?

Fisher: Although Country does have captive agents the company does have more than 300 independent agents primarily located in Indiana, Kentucky, Michigan, Ohio and West Virginia. We have what we deem as an “alliances” with these independent agents and to date this arrangement has worked well.

IJ: What other urban areas is Country Financial interested in?

Fisher: Being successful in Chicago will give us a good track record to enter other urban markets. Once we have achieved success in this market we will be looking to enter other urban areas.

Country Insurance & Financial Services and its alliances serve about one million households and businesses throughout 14 Midwestern and Western states.

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