CUNA Mutual Group
Encyclopedia
CUNA Mutual Group is a mutual insurance
company
that provides financial services
to cooperatives, credit unions, their members, and other customers worldwide. CUNA Mutual Group sells commercial and consumer insurance and protection products.
In June 2009, CUNA Mutual acquired CPI Qualified Plan Consultants. These two organizations have teamed up to provide retirement plan services to credit unions and their members. That same year, in November 2009, CUNA Mutual acquired Producers Ag Insurance Group, an American crop insurer.
and investment
products designed for credit unions and their members, including the following:
, crop insurance
Consumer: Credit insurance
, debt cancellation, life insurance
and 401(k)
plans, mutual fund
s, managed accounts, variable annuities, fixed annuities, and immediate annuities.
; Fort Worth, Texas
; and Madison, Wisconsin
; as well as field employees located throughout the United States. There are 1,800 employees working in Madison, Wisconsin, the company's world headquarters. The company's International Division includes more than 670 CUNA Mutual Group employees in regional offices across the globe.
Mutual insurance
A mutual insurance company is an insurance company which has no shareholders but instead is owned entirely by its policyholders. The primary form of financial business set up as a mutual company in the United States has been mutual insurance. Under this idea, what would have been profits are...
company
Company
A company is a form of business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be...
that provides financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
to cooperatives, credit unions, their members, and other customers worldwide. CUNA Mutual Group sells commercial and consumer insurance and protection products.
In June 2009, CUNA Mutual acquired CPI Qualified Plan Consultants. These two organizations have teamed up to provide retirement plan services to credit unions and their members. That same year, in November 2009, CUNA Mutual acquired Producers Ag Insurance Group, an American crop insurer.
Services and support
CUNA Mutual Group sells a variety of insuranceInsurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
and investment
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
products designed for credit unions and their members, including the following:
Insurance and protection
Commercial: Business protection, collateral products, employee benefits, mortgage insuranceMortgage insurance
Mortgage insurance is an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan. Mortgage insurance can be either public or private depending upon the insurer...
, crop insurance
Consumer: Credit insurance
Credit insurance
Credit insurance is a term used to describe both business credit insurance and consumer credit insurance, e.g., credit life insurance, credit disability insurance Credit insurance is a term used to describe both business credit insurance (a.k.a. trade credit insurance) and consumer credit...
, debt cancellation, life insurance
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
Services
Business process outsourcing, compliance services, marketing services, end-to-end lendingAsset management
Broker/dealer services, pensionPension
In general, a pension is an arrangement to provide people with an income when they are no longer earning a regular income from employment. Pensions should not be confused with severance pay; the former is paid in regular installments, while the latter is paid in one lump sum.The terms retirement...
and 401(k)
401(k)
A 401 is a type of retirement savings account in the United States, which takes its name from subsection of the Internal Revenue Code . A contributor can begin to withdraw funds after reaching the age of 59 1/2 years...
plans, mutual fund
Mutual fund
A mutual fund is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities.- Overview :...
s, managed accounts, variable annuities, fixed annuities, and immediate annuities.
Employees and locations
CUNA Mutual Group employs approximately 4,500 people in offices in Waverly, IowaWaverly, Iowa
Waverly is a city in Bremer County, Iowa, United States. The population was 9,874 at the 2010 census. It is the county seat of Bremer County and is part of the Waterloo–Cedar Falls Metropolitan Statistical Area....
; Fort Worth, Texas
Fort Worth, Texas
Fort Worth is the 16th-largest city in the United States of America and the fifth-largest city in the state of Texas. Located in North Central Texas, just southeast of the Texas Panhandle, the city is a cultural gateway into the American West and covers nearly in Tarrant, Parker, Denton, and...
; and Madison, Wisconsin
Madison, Wisconsin
Madison is the capital of the U.S. state of Wisconsin and the county seat of Dane County. It is also home to the University of Wisconsin–Madison....
; as well as field employees located throughout the United States. There are 1,800 employees working in Madison, Wisconsin, the company's world headquarters. The company's International Division includes more than 670 CUNA Mutual Group employees in regional offices across the globe.