CUNA Mutual Posts Year-End Numbers
CUNA Mutual Group closed 2004 with assets of $14 billion, up from $12.8 billion at year-end 2003, according to its 2004 Annual Report. CUNA Mutual reported that 2004 revenues rose to $2.5 billion, up slightly from the $2.4 reported one year earlier. During 2004 it posed net income of $136 million, with an operating gain of $122 million. Other figures released by the company show:
* Invested assets totaled $12.5 billion, with 79% of invested assets in debt securities at fair value, 6% in equity securities at fair value, 7% in cash and short-term instruments, 3% in mortgage loans and 1% in real estate.
* During 2004 CUNA Mutual contributed $200 million in income to credit unions.
* Last year it paid $385 million in life, auto and homeowner claims with an underwriting partner; made $450 million in credit insurance payments, and paid $160 million in claims (including fidelity and property loss) to credit unions.