Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Strong 2Q for CUNA Mutuals revenue net income
MADISON, Wis. (7/31/12)--CUNA Mutual Group posted strong financial results through the second quarter of 2012 due to solid growth in its lending and asset accumulation businesses, the company said Monday.

CUNA Mutual Group recorded $68 million of Generally Accepted Accounting Principles (GAAP) net income through June, compared with $51 million in 2011. GAAP operating revenue grew in the first half of the year by 4.8 %, compared with 2.3% growth last year. This improvement helped offset weather-related losses in the company's auto and home businesses through the second quarter, CUNA Mutual said.

CMFG Life Insurance Co., CUNA Mutual Group's lead life insurance company, grew its statutory total adjusted capital to $1.55 billion through June, up $39 million from year-end 2011.  Strong earnings helped to further strengthen the company's capital through the second quarter. 

"Despite weather-related losses, we continue to see positive momentum in our core businesses," said Alastair Shore, CUNA Mutual chief financial officer. "We have little control over the weather and economic conditions, but we are executing well on initiatives that are within our control."
Other Resources

RSS





print
News Now LiveWire
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
1 day ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
1 hour ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
1 hour ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
1 hour ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
3 hours ago