Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Acquisition of Canadas CUMIS Group completed
BURLINGTON, Ontario (1/7/10)--Cooperators Life Insurance Company and Central 1 CU of Vancouver, B.C., announced the acquisition of The CUMIS Group Limited Co-operators Life Insurance Company was completed Dec. 31. Prior to the transaction, the majority shareholder of CUMIS was CUNA Mutual Group of Madison, Wis. (Market News Publishing Jan. 4). CUMIS provides personal insurance, including credit and mortgage protection; life; disability and critical illness; home; auto; travel and employee benefits. It also provides business, liability and property insurance to credit unions, and wealth management services and products, including credit union group retirement plans. The pre-dividend purchase price was $254.4 million, subject to post-closing adjustments. Cooperators will own about 73%, and Central 1 will own about 27% of CUMIS. “This acquisition will provide growth opportunities by building on our relationships with credit unions,” said Don Rolfe, president/CEO of Central 1. “We believe this is a strategic investment that offers the potential to improve our members' experience and create value for them.” All existing CUMIS insurance policies remain in effect with no changes, CUMIS said.


RSS





print
News Now LiveWire
Emergency loans post- #Blizzard2015 offered by @ScientFCU in Conn. http://t.co/U9tIBzPOZV
13 minutes ago
Did you get your spot in the @CUCB #CherryBlossom 10 Mile Run? Check lottery results here http://t.co/6rxT0osyWJ @CU4Kids @CMNHospitals
34 minutes ago
@FamilyFirstFCU has implemented a grant program through the FHLB of NY to help first-time home buyers.
1 hour ago
#BREAKING: @federalreserve offers few new hints on rate-hike timing in policy statement http://t.co/lgZ6zZ1Vrr
2 hours ago
.@CUNA has posted free, recorded version of its 60-minute Jan. 26 #RBC2 webinar online. http://t.co/jiVPASGQ4C
2 hours ago