April 28, 2010
CUNA Mutual enters UK building society market
by Richard Kilner
CUNA Mutual Group has announced that it has brought on board a further seven building societies through which its products such as MPPI and life can be distributed.
This significant entry into the UK building society scene (which presently has 51 such firms) helped drive the 7% revenue growth CUNA enjoyed in 2009/2010.
The firm’s client base has been expanded by the new inclusion of Furness, Melton Mowbray, Progressive, Saffron, Scottish and Vernon Building Societies.
Chief Executive Officer Paul Walsh has described the building society market as highly competitive, and stated that CUNA was turning heads because of its ability to provide bespoke products, add real value and do so at a competitive price.
CUNA Mutual Group has 75 years of global experience, and first entered the UK in 1976, and boasts a 98% rate of claims resolution within 48 hours.