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CU System
CUNA Mutual annual report available online
MADISON, Wis. (4/15/09)--CUNA Mutual Group’s 2008 Annual Report is available online. The report contains information about CUNA Mutual’s financial strength and how the company is navigating challenging economic times. This is the second consecutive year the report is available exclusively online, saving money and environmental resources. Interactivity is part of the report design, as videos and audio clips allow readers to hear directly from company leaders and customers. CUNA Mutual said it recorded strong revenue growth--6.8%--and overall operating results--a gain of about $151 million--in 2008. For example:
* The company recorded revenue growth of nearly 7% last year and an operating revenue gain of more than $150 million; * Investment losses offset operating earnings as the company recorded a net income loss in 2008; * However, even with investment losses, the company policyholder surplus remains at more than $1.2 billion.
The company’s total asset size was $13.2 billion in 2008. CUNA Mutual’s 2008 operating results remained strong during the current economic downturn, the company said. For example:
* Retention of credit union customers on CUNA Mutual’s core products was 98.2%; * Crop insurance--a new product--delivered $246 million of revenue; * Underwriting was strong across products, including mortgage insurance; and * Product diversification created product resilience.
CUNA Mutual is a provider of financial services to credit unions, their members and customers worldwide. To access the 2008 Annual Report, use the resource link. Readers also can access a printable PDF online.
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