First Service Corporation has its roots back to 1929 as a local all lines agency servicing the general public.
In 1962, Paul Naz was at conference for one of the life insurance companies The Naz Agency, Inc. represented. Each general agent attendee was asked to describe how they market life insurance. One of the attendees from Shaker Heights, Ohio described his operation as follows: “We have an arrangement with Shaker Heights Savings and Loan Association where they give me a list of all the mortgages they make each week.
On the plane ride home, Paul couldn’t get that presentation out of his mind. He thought, “What a neat way to sell insurance. All I have to do is find a banker who is willing to listen to me.”
Well, the rest is history.
In 1964, Paul received a big break when a banker agreed to let Paul take over the bank’s mortgage insurance program, underwritten by Federal Life and Casualty Company in Battle Creek. An office was opened in Pontiac and the agency was named First Service Corporation. That was the beginning of First Service Corporation.
In 1965, an executive of Federal Life and Casualty took a liking to Paul and arranged to have FSC handle the insurance program for Michigan Bank, which later became a part of Michigan National Corporation.
Between Michigan National Bank and Pontiac Bank, First Federal Savings of Oakland, over 5,000 mortgages were being generated annually. Since the insurance program was not a group plan, there was need to recruit agents to call on the new mortgagors. With Michigan National located in downtown Detroit and First Federal in Pontiac, FSC moved its office from Pontiac to Eight Mile Road in Detroit, halfway between the two Banks.
In 1966, FSC submitted a bid for a disability program for what was then the Michigan Savings & Loan League Member Association. FSC was awarded the League’s endorsement. Paul was able to begin to concentrate on an area of insurance specialization that even to this day very few agents nationally have chosen to enter.
Paul covered the entire state for 11 years, calling on Banks and Savings and Loan institutions. In 2013, Paul passed away leaving a legacy through First Service Corporation, and a mark on the financial institutions that he had the pleasure of working with.
First Service Corporation celebrated its 50th year anniversary in 2014. First Service Corporation continues to service insurance programs for over 150 lenders in 13 states. The key to continued growth has been an unwavering commitment to best-in-class service. First Service Corporation continues in the specialization of insurance products for Financial Institutions, which is their only line of business. First Service Corporation has been an integral part of the fabric within the Michigan Financial Institution Community.