Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CUNA Mutual in strong position despite economy
MADISON, Wis. (10/1/08)--CUNA Mutual Group is in a strong financial position, despite the troubles afflicting the U.S. economy, the company said in a statement posted on its website. “As you read the headlines and hear the financial news, it's important you know CUNA Mutual stands committed to credit unions, credit union members, and its policyholders through these challenging times,” CUNA Mutual said. “Despite the current economy, CUNA Mutual’s operating performance remains strong in 2008--results that follow a three-year period of growing revenues by 25%, doubling our profitability, and increasing benefits to customers by more than $500 million,” the company added. CUNA Mutual’s exposure to AIG, Freddie Mac, Fannie Mae, Lehman Bothers and Merrill Lynch is less than 0.1% of it general account, the company said. The compnay had $8.3 billion of cash and investments in its general account at the end of 2007. Despite economic challenges throughout the rest of 2008 and into 2009, CUNA Mutual predicts solid growth the rest of this year and a strong overall operating outlook.
Other Resources

RSS print
News Now LiveWire
#creditunions emphasize co-op principles during National Co-op Month #NewsNow http://t.co/zEb9UFot1N
2 hours ago
Servicemember's spouse drives away with Bank on More's SUV thanks to #missouri #creditunions http://t.co/WvTrKxh0sV
3 hours ago
From @FHFA this a.m.: U.S. house prices up 0.5% in Aug. on seasonally adjusted basis from previous month. More here: http://t.co/1yVDOPggeX
4 hours ago
@TheNCUA open meeting is slated to start at 10 a.m. ET. Should be a quick one. #NewsNow http://t.co/rfYjnat7eI
5 hours ago
Mass. CUs in unanimous vote joined RI and NH CUs in approving merger of the 3 state leagues 2 form the Cooperative Credit Union Association.
5 hours ago