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CUNA Mutual to Sell IRA Services Division

CUNA Mutual Group said it has signed a letter of intent to sell its individual retirement account services division to Ascensus, a retirement services firm.

By Michelle A. Samaad | Updated on July 01, 2009

CUNA Mutual Group said it has signed a letter of intent to sell its individual retirement account services division to Ascensus, a retirement services firm.

The sale, which is expected to close on 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. The Dresher, Pa.-based Ascensus services more than 26,000 defined contribution plans and is a division of Crump Group Inc., a wholesale insurance distributor.

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