Source: Shutterstock.
In its second acquisition in a month, CUNA Mutual Group announced Thursday the purchase of another start-up company.
The Madison, Wis.-based organization said it had acquired ForeverCar, a Chicago-based start-up that protects vehicle owners from expensive car repairs with "Mechanical Repair Coverage (MRC) policies delivered through online channels."
The acquisition, according to CUNA Mutual Group, will further boost the digital capabilities for the organization.
According to the announcement, MRC is a core offering in CUNA Mutual Group's lending solutions and payment protection products portfolio. The firm will continue to sell its MRC policies through the ForeverCar platform. "Combined with the acquisition of CuneXus, adding ForeverCar's digital platform and marketing capabilities further enhances CUNA Mutual Group's lending and insurance product portfolio and its ability to reach and protect more consumers digitally," the statement said.
"Our investments in start-ups such as ForeverCar and CuneXus, coupled with our focus on modernizing and digitizing our product portfolio, are essential efforts in responding to a rapidly evolving consumer experience," Robert Trunzo, president/CEO for CUNA Mutual Group, said. "We've been committed to helping people achieve financial security for more than 85 years, and lending insurance products, including MRC, have been an essential pillar of how we protect consumers and help them achieve a brighter financial future."
According to the announcement, ForeverCar currently contracts with 180 credit unions as their official MRC provider. The statement from CUNA Mutual Group said, "Maintaining those credit union – and member – relationships will be the top priority during the integration process. The acquisition of ForeverCar expands CUNA Mutual Group's direct-to-consumer channels and provides new growth opportunities."
The purchase was made through CUNA Mutual Group's venture capital arm, CMFG Ventures. Terms of the transaction were not made public. According to the information provided, ForeverCar and its employees will remain in Chicago.
© 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.
Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
