PenFed and CUNA Mutual Group join forces to bring TruStage experience to members
CU’s 1.5 million members can help protect their families with life and AD&D Insurance
MADISON, WI (March 7, 2017) — CUNA Mutual Group today announced Pentagon Federal Credit Union (PenFed) has begun making TruStage Accidental Death & Dismemberment (AD&D) and Life insurance available to the credit union’s 1.5 million members.
TruStage, CUNA Mutual Group’s consumer brand, is partnering with PenFed to help members plan and protect for their future. Individuals now have the ability to research, purchase and service their life and AD&D policies through multiple channels of their choice.
“CUNA Mutual Group and PenFed share a desire to serve hard-working families by helping them prepare for all of life’s key moments,” said Susan Sachatello, senior vice president, TruStage. “Our relationship will empower their members to protect what matters most.”
This arrangement will help PenFed, the nation’s third largest credit union, continue to grow, while enabling CUNA Mutual Group to further its strategy to create indispensable credit union relationships to serve consumers’ financial needs.
“TruStage is clearly committed to delivering a compelling experience for our members’ life and AD&D protection needs,” said Shashi Vohra, PenFed executive vice president and president of affiliated businesses. “Their investment in innovation and digital capabilities was a major factor in our decision to make TruStage available to our members.”
TruStage continues to build capabilities for credit unions to generate non-interest income while helping them attract and better serve members across all life stages. “We do this by connecting with consumers where, when and how they want and by offering a diverse set of products that are simple to understand, buy and maintain,” Sachatello said.
In 2015, TruStage paid more than $80 million in non-interest income to credit unions, and those with more than $1 billion in assets experienced a median non-interest income growth rate of 11.4 percent. Since 2014, TruStage has won eight times more credit union business than it lost.
About TruStage
TruStage is a financially strong insurance, investment and technology provider, built on the philosophy of people helping people. We believe a brighter financial future should be accessible to everyone, and our products and solutions help people confidently make financial decisions that work for them at every stage of life. With a culture rooted and focused on creating a more equitable society and financial system, we are deeply committed to giving back to our communities to improve the lives of those we serve. For more information, visit www.trustage.com.
About TruStage
Protecting more than 17 million members, TruStage insurance products and programs include, auto, home, life, accidental death and dismemberment and health insurance. They’re available to credit union members across the U.S. helping to build financial security for their families. Credit union members seeking more information can contact TruStage at 888.888.0375.
About PenFed Credit Union
Established in 1935 as the War Department Credit Union, PenFed Credit Union is one of the largest credit unions in the country, serving over 1.5 million members worldwide with more than $21 billion in assets. Our long-standing mission has been to provide superior financial services in a cost effective manner, while being responsive to members’ needs. PenFed Credit Union offers market-leading mortgages, automobile loans, credit cards, checking, and a wide range of other financial services with its members’ interests always in mind. PenFed Credit Union serves a diverse population, and no military service is required to join. PenFed Credit Union offers many paths to membership, including numerous employee groups and association affiliations. PenFed Credit Union is federally insured by the NCUA and is an equal housing lender. To learn more about PenFed Credit Union, visit PenFed.org, like us on Facebook and follow us @PenFed on Twitter. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Opportunity Employer: M/F/V/D.
