CUNA Mutual keeping up with the best

MADISON, Wis. – CUNA Mutual Group must be doing something right – it has made the top five list of life premiums sold by financial institutions. Based on research conducted by Dr. Kenneth Kehrer, president of Kenneth Kehrer Associates, a Princeton, New Jersey-based consulting firm, CUNA Mutual ranked fifth in total and its weighted premium rose 51%. “CUNA Mutual has always brought with their credit union partnerships a needs-based growth,” said Mike Hulme, vice president of life, health and MEMBERS prime club products. “It goes back to our mission to create financial security and that has to do with not only investing properly but also with being adequately insured.” As a nationwide provider of investment, insurance and advisory services available exclusively to credit union members, CUNA Mutual first began providing face-to-face MEMBERS financial services representatives to credit unions in the late 1980′s. Offering more than 300 insurance, investment and technological solutions through strategic relationships and multiple service channels, 524 credit unions have formed partnerships with CUNA Mutual- up from 430 CUs in 1998. “We are fairly unique,” said Bob Buckingham, vice president of asset accumulation products for CUNA Mutual. “Many other programs are very investment focused and don’t look at the broader set of needs.” According to Kehrer’s studies, financial institutions now have 2% of the individual life sales in the United States, up from 1.2% in 1999 and it marks a much faster growth rate than that of sales through other delivery channels. Those results don’t surprise CUNA Mutual. Looking ahead, Hulme sees long-term care insurance having significant growth potential as more members gain a greater awareness and understanding of risks and costs. “We’re going to continue our emphasis on meeting members needs and finding different ways to do that,” said Hulme. For more information regarding Kehrer’s study visit www.kenkehrer.com or call (609) 924-8766. [email protected]