CMFG Life Insurance, doing business as CUNA Mutual, knows a thing or two about credit unions, having served them and their members since 1935. The mutual company provides specialized insurance -- such as credit insurance, bond coverage, business auto, professional liability, and health benefit packages -- for the credit unions themselves, as well as consumer products like life, accident, and homeowners insurance that the institutions can offer to their members. CUNA also provides credit unions with software, marketing support, and investment advice, and it has select operations in non-credit union related insurance markets.


In addition to insurance policies for credit unions, CUNA Mutual's MEMBERS Capital Advisors unit provides advisory services to help credit unions improve investment returns. Some of the company's products for credit union members under the MemberCONNECT program are offered through partnerships with insurers such as Liberty Mutual

Other lines include accidental death and dismemberment coverage, auto insurance, personalized investment planning through CUNA Brokerage Services, and small-business retirement plans.

In the non-credit union markets, CUNA Mutual provides specialized crop insurance through Texas-based Producers Ag Insurance Group (Pro Ag); however, the company announced plans to sell its crop insurance business in late 2014. Its CPI Qualified Plan Consultants unit is a third-party administrator of employee benefits plans and retirement plans for small business customers.

Life and health premiums accounted for 40% of CUNA Mutual's revenues in 2013.

Geographic Reach

CUNA Mutual operates throughout the US states and territories, with offices in Madison, Wisconsin; Dallas, Texas; and Waverly, Iowa. It also has numerous regional branch locations across the US. The company maintains its European headquarters in Dublin and has other international operations in the Caribbean, Latin America, and Asia.

Financial Performance

CUNA Mutual has seen steady revenue growth over the past five years. In 2013, revenue increased 9% to $3.4 billion (versus $3.1 billion in 2012) due to an increase in property/casualty premiums, which grew 17% year-over-year and provided the most new revenue; life and health premiums rose 4%, while investment income, commissions, and fees also grew. Net income rose 8% that year to $162.2 million, due to revenue growth. Profits were slightly offset by increases in benefits, expenses (property/casualty insurance loss), and loss adjustment expenses.

Cash flow from operations dropped 12% in 2013 to $635 million due to an increase in cash used in premiums receivable, insurance reserves, and receivables from the Federal Crop Insurance Corporation.


In recent years CUNA Mutual has streamlined its business in response to a consolidating marketplace and revamped its sales and customer service operations. To improve its existing offerings, in 2013 CUNA Mutual launched FastApply, an online system allowing members to rapidly apply for no-cost accidental death and dismemberment coverage. It also implemented improvements to its platform and integrated MeridianLink's LoansPQ loan origination system with its own platform. The company has increasingly dedicated itself to marketing and customer service efforts such as improved post-purchase communications and growth of social media presence.

After experiencing losses with its crop insurance business, the company in 2014 agreed to sell Producer's Ag Insurance, or ProAg, to HCC Insurance Holdings. Also in 2014, the company and its partner PMI Mortgage Insurance sold CMG Mortgage Insurance to a subsidiary of Arch Capital Group. The moves allow CUNA Mutual to better focus on its core business lines and customers.

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5910 Mineral Point Rd
Madison, WI 53705-4456
Phone: 1 (800) 356-2644
Fax: 1 (608) 233-6519


  • Employer Type: Private Mutual Company
  • President and CEO: Robert Trunzo
  • Vice Chairman: Thomas C. Godlasky
  • President and CEO: Robert Trunzo

Major Office Locations

  • Madison, WI

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