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CUNA Mutual sells IRA Services division to Ascensus
MADISON, Wis. (7/2/09)--CUNA Mutual Group Wednesday signed a letter of intent to sell its IRA Services division to Ascensus, a retirement services firm based in Dresher, Pa. The sale, expected to close July 31, is part of CUNA Mutual’s overall corporate strategy to simplify its business and focus on its core insurance business and products, the company said in a release. The 47 employees of the IRA Services division will become Ascensus associates when the sale closes. They will continue to work from the same location in Middleton, Wis. CUNA Mutual acquired the IRA Services business from CUNA & Affiliates in 1999. CUNA Mutual Group provides financial services to credit unions and their members nationwide. Ascensus provides solutions for the retirement marketplace and is a division of Crump Group, Inc., a U.S. wholesale insurance distributor.


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