MADISON, Wis. – CUNA Mutual Group CEO Mike Kitchen resigned suddenly in ’04 after informing the board that he had offered financial assistance to a group of employees looking to break away from the union and form their own bargaining unit. Kitchen was essentially forced to resign given the potential effects of his actions on the labor dispute at the company. Kitchen is by far the biggest casualty to date in the dispute. His departure is ironic in a number of ways. Kitchen is credited by many for turning CUNA Mutual into a more diverse financial services company poised for future growth. Kitchen in 2003 was honored with a prestigious award for immigrants who have made an impact in the U.S. He also received his U.S. citizenship just a few years ago. According to the union, Kitchen was close to getting the two sides to agree on a new collective bargaining agreement after twice meeting in person with Office of Professional Employees International Union CEO Michael Goodwin. His actions leading to his resignation are also intriguing. Some find it hard to believe that such a seasoned executive would make such a dangerous move of offering money to employees to break from the union. The union claims Kitchen was set up, but nothing has ever been proven. Credit Union Times has spoken to Kitchen on occasion since his departure and he consistently commends his former employees. “I just want them to know how much I valued them, and how professional I thought they were,” he said. Kitchen, 59, maintains he did nothing illegal. CUNA Mutual CFO Jeff Holley is serving as interim CEO as CUNA Mutual conducts a nationwide CEO search.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2025 ALM Global, LLC. All Rights Reserved.