MADISON, Wis. (11/18/11)--CUNA Mutual Group reported it posted a strong performance in key financial measures through the third quarter, despite continuing economic pressures.
The company's credit union business played a significant role in its positive operating gain and revenue performance, the company said. With growth in its consumer business areas, operating revenue on continuing operations grew 5.8% year-to-date. Net income rose in the quarter to $97 million year-to-date, despite paying out more in catastrophe claims and weather-related crop insurance claims in the third quarter, compared with third quarter 2010.
"Overall, our results through the third quarter reflect the hard work of the organization and the strength of a diversified portfolio of products," said Jerry Pavelich, chief financial officer. "We will continue to do all we can to help credit unions and their members as the economic environment remains difficult, with high unemployment, volatile markets and low interest rates."