MADISON, Wis. (9/5/12)--Robert N. Trunzo has been promoted to president of CMFG Life Insurance Co. at CUNA Mutual Group, a role in which he is responsible for the products, distribution and service of the company's U.S. credit union businesses as well as its 401(k) business.
UNA Mutual Group's Asset Accumulation and Retirement Services businesses, along with the company's Information Technology area, now report to Trunzo. With this promotion, Trunzo is responsible for nearly 3,000 of the company's 4,500 employees and about $2 billion of CUNA Mutual Group's annual revenues.
His promotion follows a board of directors meeting in which the board sought to create a more effective, efficient and aligned organization after the departure last month of former Executive Vice President Kenn LaLonde, who left to become chief executive of another company.
"Since joining the company in 2005, Bob has built a strong leadership team and improved the products and services we deliver to credit unions and their members," said Jeff Post, president/CEO of CUNA Mutual Holding Co., the parent of CMFG Life. "Bob is well-suited to take on additional responsibilities to help us continue this momentum in our core businesses."
Trunzo continues to report to Post. As part of the organizational change, Mike Connealy, president/CEO of ProAg, CUNA Mutual Group's crop insurance subsidiary, now reports to Post as well.
Trunzo's priorities are focused on the top three needs identified by credit unions: Lending, compliance and income.
"The credit union system has momentum. Member growth, improving [return on assets] and stronger capital have created a growing sense the system has weathered the economic storm," Trunzo said. "The focus of the credit union business at CUNA Mutual Group is to help continue this momentum and prove to consumers that switching to a credit union was the right decision."
Under Trunzo's leadership, the company has added and expanded programs to support credit union lending, including the development of Smartphone Loans. In 2012, CUNA Mutual Group is on pace to generate more than $1 billion in loan volume for credit unions.
Also, the company is expanding its consumer business to help credit unions grow income and membership under the newly launched TruStage brand, with which CUNA Mutual Group aims to grow its consumer insurance and investment business by expanding its awareness with the more than 95 million credit union members. The new brand also seeks to introduce non-members to credit unions.
Trunzo has held a variety of public and private sector leadership positions during his career. Previously at CUNA Mutual Group, he was executive vice president and chief operating officer.
He joined the company in 2005 after serving in a variety of insurance leadership roles. He also served as Secretary of Commerce under former Wisconsin Gov. and current U.S. Senate candidate Tommy Thompson. In addition, Trunzo served as chairman of Southeast Wisconsin Professional Baseball Park District, the board which oversaw the design, financing and construction of Miller Park, home of the Milwaukee Brewers.