Phil Tschudy, a media and reputation strategist for CUNA Mutual Group in Madison, Wis., said his organization forged a partnership with NAFCU because it is important to be where credit unions are.
"We support all credit union organizations and that helps us serve their members and it helps us focus on our long-term strategic direction," Tschudy said.
NAFCU Services Corporation and CMG announced their first major agreement Tuesday. CMG will provide mortgage payment protection to NAFCU members. CMG launched the product in 2015; it helps cover a member's mortgage payments in the event of a job loss, disability or death.
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Tschudy said CMG remains absolutely committed to continuing to serve CUNA and its affiliated state leagues.
"There is no correlation between this partnership agreement for one product with NAFCU and what we do with CUNA and the leagues," he said.
He also said CMG's reduction of its funding support for CUNA and its leagues announced in May through a new marketing agreement was not made to make room for the NAFCU deal.
"This was more about making sure we are investing in the long term future of the CUNA Mutual Group and reinvesting in our products and services to make sure we're providing products in a competitive fashion to meet the needs of members and credit unions," Tschudy said. "This is not a matter of cutting funding to leagues so that we could support NAFCU. That is not the case at all. We remain absolutely supportive of CUNA and the leagues."
In response to the NAFCU deal, CUNA Senior Media Relations Manager Vicki Christner said the trade was "proud of our long-standing and deep relationship with CUNA Mutual."
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
