MADISON, Wis. (9/13/13)--CUNA Mutual Group's TruStage insurance program celebrated a significant milestone Monday, when the number of credit union members protected by a TruStage product or program surpassed 14 million.
CUNA Mutual Group this week celebrated its TruStage insurance program reaching 14 million credit union members protected. From left, Bob Trunzo, president, CUNA Mutual Group Insurance and Financial Services; Page Danley, contact center sales representative, who sold the 14 millionth policy; and Susan Sachatello, senior vice president, direct to consumer. (Photo provided by CUNA Mutual Group)
TruStage insurance products and programs include life, auto, homeowners, and accidental death and dismemberment insurance, which are made available to credit union members through CUNA Mutual Group's MemberCONNECT Program.
CUNA Mutual Group staff at the company's Madison, Wis., and Waverly, Iowa, locations paused to commemorate TruStage insurance hitting the 14 million member mark.
While protecting 14 million individuals is notable, the opportunity to protect more credit union members is significant, said Susan Sachatello, senior vice president of CUNA Mutual Group's Direct to Consumer division.
A 2011 LIMRA study, "Trillion Dollar Baby Growing Up," reported 58 million households are underinsured. Three in 10 households have no life insurance, and 40% of households with children could not meet everyday living expenses if they lost one parent.
"We consider protecting members and their families as more than our business; we consider it our obligation to the credit union movement," Sachatello said. The milestone is also a reminder to us "that we must continue our efforts to protect even more members," she said.
The milestone coincides with Life Insurance Awareness Month, a celebration led each September by the Life Insurance Foundation for Education to inform consumers about the importance of life insurance.
CUNA Mutual Group is helping credit unions engage and educate members during Life Insurance Awareness Month by providing credit unions participating in the MemberCONNECT Program an array of educational tools and materials, including a Facebook promotion.
In August, the MemberCONNECT Program celebrated its 30th anniversary. More than 4,000 credit unions participate in the program, which paid more than $727 million in member benefits in 2012 and produced $66 million in non-interest income for credit unions.
CUNA Mutual Group said it will invest more than $200 million in marketing efforts and new initiatives during the next three years to enhance and expand the program, Sachatello added. "The focus of TruStage is to put the member at the center of our business," she said. "By building a compelling and seamless member experience, we are enhancing the relationship between credit unions and their members, thus strengthening the partnership between CUNA Mutual Group and credit unions."