The company credit union land knows as "CUNA Mutual Group" is more than just an insurance company. In fact, that's not even the company's real name. Here's a primer on this complex organization.
Legal name: CUNA Mutual Insurance Society. "CUNA Mutual Group is really just the marketing name," explained Rick Uhlmann, spokesman for the firm.
Formed in 1935, CUNA Mutual Insurance Society is the parent organization of the companies that form the CUNA Mutual Group.
Though governed by the same board of directors, CUNA Mutual Insurance Society and CUNA Mutual Life Insurance Company are separate mutual companies owned by their respective policyholders. The proposed merger would bring these two arms together.
CUNA Mutual Insurance Society has operations in several countries and offers credit life, credit disability, health, and retirement plans to credit unions and their members. CUNA Mutual Insurance Society, either directly or through a wholly owned subsidiary, owns in whole or in part CUMIS Insurance Society, Inc, MEMBERS Life Insurance Company, The CUMISGroup, Ltd (Canada), CUNA Brokerage Services, Inc., Members Capital Advisors, Inc, and CMG Mortgage Insurance Company.
CUNA Mutual Insurance Society (CMIS) is currently owned and controlled by its credit union and member policyowners.
