RANCHO CUCAMONGA, Calif. — C-U First, Ltd, a credit union-owned and operated workers' compensation insurance company, is starting its fifth underwriting year with good news for its member credit unions: the group has distributed an average of 30% of its 2004 premium costs back to members, and was able to put aside another 17% for future returns.
Overall, the captive has seen a premium decrease of approximately 45%, representing more than $1 million in direct premium savings for its 11 credit union owners. Each participating credit union's premium is based on its individual performance.
Christian Community Credit Union was one of the 2004 original founding members. David South, vice president of human resources at the $450 million institution, said joining the captive has substantially reduced premium costs.
Recommended For You
"We just received our first return of premium for our first year's participation in the program of more than $116,000, and stand to receive additional return of premium for the same year, a 52% return of premium from our 2004-2005 plan year," South said. "Prior to joining the captive, we were with State Fund and we would have never received credit from them for our low claims experience."
© 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.
