CUNA Mutual Group

What CUNA Mutual Group does

CUNA Mutual Group, operating through its marketing brand TruStage, is a U.S. mutual insurance and financial services organization founded in 1935 and headquartered in Madison, Wisconsin. The company serves two principal customer segments: U.S. credit unions and their members on the institutional side, and individual consumers on the retail side. It distributes products through credit union partnerships, a direct-to-consumer digital channel (TruStage.com and My Account portal), licensed insurance agents and brokers, and a registered broker-dealer (CUNA Brokerage Services, FINRA/SIPC).

The product portfolio spans personal lines (term life, whole life, guaranteed acceptance whole life, AD&D, auto, home, renters, condo, funeral/preplanning), annuities (ZoneChoice suite, MaxProtect fixed, single premium immediate, future income), and three B2B solution suites: Business Protection Solutions (auto collateral protection, cybersecurity, fidelity bond, management/professional liability, workers' comp, property/liability), Lending Protection Solutions (credit insurance, debt protection, GAP, payment guard, private mortgage insurance, mechanical repair coverage), and Consumer Insurance Solutions. Adjacencies include TruStage Stablecoin, Workplace Solutions (retirement, executive benefits, pension risk transfer), Wealth Management Solutions, Compliance Solutions, DEI Services, and TruStage Ventures. Underwriting is executed through six wholly-owned insurance subsidiaries (CMFG Life, MEMBERS Life, CUMIS Insurance Society, CUMIS Specialty, American Memorial Life, Union Security).

Revenue is generated primarily through recurring insurance premiums (personal and commercial lines), annuity premium contributions and fee structures, transaction fees from lending protection products, and managed-services revenue from workplace and wealth management offerings. Pricing is quote-based and not publicly disclosed. Recent strategic activity has been predominantly inorganic and capability-expanding: the 2025 acquisition of lending platform CuneXus, the 2021 acquisition of Assurant's Global Preneed Business for $1.3B, and earlier acquisitions of ForeverCar (2020), Mirador (2018), and Compliance Systems (2018). The organization is mutually owned by its policyholders, not publicly traded, and maintains an A.M. Best A (Excellent) financial strength rating on CMFG Life Insurance Company as of December 2025.

Name

CUNA Mutual Group

Website

https://cunamutual.com

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

CUNA Mutual Group (dba TruStage) is a U.S. mutual insurer founded in 1935 that provides personal and commercial insurance, annuities, lending protection, and workplace and wealth solutions to credit unions and their members via partner channels and direct digital distribution.

Ownership category

akta.pro rank

Product category

Mutual Insurance Services

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Insurance Carriers and Related Activities (524), Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411), Surety Insurance (6351)

akta.pro primary industry

Group Universal Life (GUL) (FSAIADAC)

akta.pro secondary industries

Annuity Reinsurance (Immediate, Deferred, VA/GMxB) (FSAOAAAF), Commercial Lines P&C Reinsurance (FSAOABAB)

Keywords

• Life insurance products
• Credit union insurance
• Annuity products
• Lending protection solutions
• Business insurance coverage

Headquarters

HQ city

Madison

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premiums: Collection of insurance premiums from personal lines (life, auto, home, renters, AD&D) and commercial lines (business protection, lending protection). Revenue generated through recurring premium payments from policyholders.
2. Annuity Products: Sale and management of annuity products including fixed annuities, indexed annuities, and income annuities. Revenue from premium contributions and fee structures.
3. Lending Protection Solutions: Credit insurance, debt protection, GAP coverage, payment protection, and private mortgage insurance sold to lending institutions and consumers.
4. Workplace Solutions: Retirement solutions, executive benefit solutions, pension risk transfer, and wealth management services for businesses.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

CUNA Mutual Group, operating under the TruStage brand, sells a diversified portfolio of insurance and financial products to credit unions and their members. Personal lines include life insurance (Term, Whole, Guaranteed Acceptance Whole), AD&D, auto, home, renters, condo, and funeral insurance; commercial lines include business protection, lending protection, and credit insurance sold through credit unions; and retirement offerings include fixed, indexed, and income annuities alongside workplace retirement, executive benefits, and wealth management services.

Product overview

TruStage, the marketing brand for CUNA Mutual Group and its affiliates, operates as a diversified insurance and financial services platform serving both individuals and businesses. The product portfolio includes personal insurance products (Term Life, Whole Life, Guaranteed Acceptance Whole Life, AD&D, Auto, Property/Home/Renters/Condo, Funeral Insurance), annuity products (ZoneChoice suite, MaxProtect Fixed Annuity, Single Premium Immediate Annuity, Future Income Annuity), and business solutions organized into three main suites: Business Protection Solutions (auto collateral protection, business auto, cybersecurity, fidelity bond, management liability, plastic card, property/liability, real estate collateral, workers comp), Lending Protection Solutions (credit insurance, debt protection, GAP, payment guard, PMI, mechanical repair coverage), and Consumer Insurance Solutions. TruStage also offers TruStage Stablecoin, Wealth Management Solutions, and operates TruStage Ventures for strategic investments. The company acquired CuneXus lending platform to enhance its digital lending capabilities. Insurance products are issued by CMFG Life Insurance Company, MEMBERS Life Insurance Company, CUMIS Insurance Society Inc., CUMIS Specialty Insurance Company Inc., American Memorial Life Insurance Company, and Union Security Insurance Company.

Differentiator

Problem solved

Functional benefit

Brands

• TruStage Ventures: Venture arm of TruStage focused on strategic investments.
• TruStage Stablecoin

Products and services

• Term Life Insurance Term life insurance coverage providing protection for a specified period, offered to individuals seeking affordable coverage.
• Whole Life Insurance Permanent life insurance with cash value accumulation, providing lifelong coverage with a savings component.
• Guaranteed Acceptance Whole Life Insurance Whole life insurance with guaranteed acceptance regardless of health conditions, designed for individuals who may not qualify for traditional coverage.
• Accidental Death & Dismemberment Insurance Insurance providing benefits for accidental death or dismemberment, available for individuals and businesses.
• Auto Insurance Vehicle insurance coverage for individuals, including auto and home insurance bundles.
• Home Insurance Property insurance coverage for homeowners, part of the property insurance offerings.
• Renters Insurance Insurance coverage for renters protecting personal property and liability.
• Condo Insurance Insurance coverage specifically designed for condominium owners.
• Payment Guard Advantage Insurance Payment protection insurance that covers loan payments in case of disability, job loss, or other qualifying events.
• Funeral Insurance and Prepaid Funeral Plans Prepaid funeral plans and final expense insurance to help cover end-of-life costs.
• ZoneChoice Advantage Annuity Fixed annuity product with registered index-linked features for retirement savings growth.
• ZoneChoice Income Annuity Annuity product designed to provide guaranteed income during retirement.
• ZoneChoice Annuity Annuity product offering growth potential with principal protection features.
• Zone Income Annuity Income-focused annuity providing regular payments to policyholders.
• MaxProtect Fixed Annuity Fixed annuity with guaranteed interest rates for retirement accumulation.
• Single Premium Immediate Annuity Immediate annuity requiring a lump-sum premium with payments starting right away.
• Future Income Annuity Deferred annuity that converts to income payments at a future specified date.
• Business Protection Solutions Comprehensive business insurance suite including auto collateral protection, business auto insurance, cybersecurity protection, fidelity bond, management and professional liability, plastic card insurance, property and business liability, real estate collateral protection, and workers' compensation insurance.
• Lending Protection Solutions Suite of credit protection products including credit insurance, debt protection, GAP, payment guard products, private mortgage insurance, mechanical repair coverage, and lender support services.
• Consumer Insurance Solutions for Credit Unions Insurance products distributed through credit unions to their members, including accidental death & dismemberment, auto and home insurance bundles, and life insurance.
• TruStage Stablecoin Stablecoin offering for business solutions, enabling digital currency transactions for credit union and business clients.
• Workplace Solutions Retirement solutions, executive benefit solutions, and pension risk transfer programs for credit unions and businesses.
• Wealth Management Solutions Investment and wealth management services for businesses and individuals.
• Compliance Solutions Compliance solutions for credit unions and financial institutions.

Quantifiable outcome

• $2.6 billion in benefits paid out to policyholders
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• CuneXuscoreStrategic or Co-development Partner · 29 March 2025CUNA Mutual Group acquired the lending platform CuneXus to enhance its financial service offerings. The acquisition aims to expand lending protection and financial technology capabilities for credit union partners.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Ameritas: Ameritas is a mutual insurance company offering life insurance, annuities, dental, vision, and retirement plans. It is comparable to TruStage in mutual ownership, life/annuity/retirement product overlap, and distribution through institutional and affinity partners.
• Securian Financial: Securian Financial is a mutual insurance holding company offering life insurance, annuities, disability, and retirement products. It is comparable to TruStage in mutual structure, life/annuity focus, and group/worksite distribution through institutional partners.
• Sammons Financial Group: Sammons Financial Group is a privately held insurance and financial services company offering life insurance, annuities, and retirement planning through independent agents. It is comparable to TruStage in life/annuity product mix, independent distribution, and privately held structure.
• Penn Mutual: Penn Mutual is a mutual life insurance company offering individual life, annuities, and wealth management products through financial professionals. It is directly comparable as a mutual competitor in life insurance and annuities distributed through advisor channels.
• Northwestern Mutual: Northwestern Mutual is a mutual financial services company offering life insurance, disability income, annuities, and wealth management. It is a direct peer given the mutual ownership model, overlapping life/annuity product set, and similar target market of high-trust, planning-oriented consumers.
• State Farm: State Farm is a mutual insurance company offering auto, home, life, and banking products distributed through captive agents. It is comparable to TruStage in mutual structure and personal P&C/life product overlap, with a similar direct-to-consumer channel.
• USAA: USAA is a member-owned financial services company serving military members and families with insurance, banking, and investment products. It is comparable to TruStage in member-owned distribution model, life/auto/home product overlap, and affinity-channel go-to-market.
• Nationwide Mutual Insurance: Nationwide is a mutual insurance and financial services company offering auto, home, life, annuities, retirement plans, and commercial products. It is highly comparable as a diversified mutual insurer with overlapping personal/commercial lines and a strong affinity-partnership distribution model.
• New York Life: New York Life is a mutual life insurance company offering individual life, long-term care, annuities, and investment products. It directly competes with TruStage in mutual life insurance, annuities, and wealth management distribution through advisors.

Broad incumbents

• Liberty Mutual: Liberty Mutual is a large national P&C and life insurer offering personal and commercial coverage. It is a broad incumbent peer given overlap with TruStage's auto, home, and commercial insurance products, though it operates at materially greater scale and product breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/TruStage
• Facebookfacebook.com/cuna.mutual.foundation
• LinkedInlinkedin.com/company/cuna-mutual-group
• Instagraminstagram.com/trustage
• Xx.com/cunamutualgroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CUNA Mutual Group