MADISON, Wis. – CUNA Mutual Group announced an agreement yesterday to sell its IRA Services division to Ascensus, a retirement services firm owned by the Crump Group Inc. and based in Dresher, Penn.
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The sale, expected to close July 31, is part of CUNA Mutual’s overall corporate strategy to simplify its business and focus on its core insurance business and products.
The 47 employees of the IRA Services division will become Ascensus associates when the sale closes. They will continue to work from the same location in Middleton, Wis. CUNA Mutual acquired the IRA Services business from CUNA & Affiliates in 1999.
Financial terms of the deal were not disclosed.
Crump Group is the largest wholesale insurance distributor in the United States.
