CUNA Mutual Group Financials Strong Through Q3
From CUNA Mutual Group Public Relations
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MADISON, Wis. – Despite continuing economic pressures, CUNA Mutual Group posted a strong performance in key financial measures through the third quarter of 2011.
The company’s credit union business played a significant role in its positive operating gain and revenue performance. With growth in its consumer business areas, Operating revenue on continuing operations grew 5.8 percent year-to-date. Net income grew in the third quarter to $97 million year-to-date, despite paying out more in catastrophe claims and weather-related crop insurance claims.
“Overall, our results through the third quarter reflect the hard work of the organization and the strength of a diversified portfolio of products,” said Jerry Pavelich, chief financial officer. “We will continue to do all we can to help credit unions and their members as the economic environment remains difficult, with high unemployment, volatile markets and low interest rates.”
CUNA Mutual Group insurance, retirement and investment products provide financial security and protection to credit unions and their members worldwide. With more than 75 years of true market commitment, CUNA Mutual’s vision is unwavering: To be a trusted business partner who delivers service excellence through customer-focused products and market-driven insight. More information on the company is available on the company’s Web site at www.cunamutual.com.
CUNA Mutual Group is the marketing name of CUNA Mutual Insurance Society, its affiliates and subsidiaries, including CUMIS Insurance Society, Inc. Product availability and features may vary by jurisdiction and are subject to actual policy language. Corporate headquarters are located in Madison, Wis.