MADISON, Wis. –CUNA Mutual Group and the American Association of Credit Union Leagues (AACUL said they have agreed in principle to a new, three-year, $64-million marketing agreement that is to go into effect Jan. 1, 2016.
The marketing agreement, which will be finalized with each league, comes as CUNA Mutual Group said it is preparing to make significant investments in the company's products, technology and services for the benefit of policyholders, many of whom are credit union members.
“To ensure the availability of funds for these investments, the company's advocacy and marketing support for leagues represents a decrease from 2015; however, the actual amount of the change will vary from state to state depending on a number of factors,” CUNA Mutual said.
Bob Trunzo
In addition, CUNA Mutual Group said it will continue providing financial support for CUNA, Filene Research Institute, National Credit Union Foundation and The Cooperative Trust. The company added it will also offer targeted assistance when needed, similar to past support of Operation Grassroots, H.R. 1151, UBIT, Donttaxmycreditunion.org, and Stopthebreaches.com.
“CUNA Mutual Group is the largest financial supporter of the credit union system by far, and that will continue,” said Robert N. Trunzo, president & CEO. “Credit unions are critical to the financial futures of millions of Americans, and we are proud to support the state leagues that help credit unions thrive.”
AACUL Chair Tracie Kenyon, president/CEO of the Montana Credit Union Network, added that “Leagues continue to be at the forefront of advocacy efforts that create a better operating environment for credit unions. League advocacy has led to many positive advancements for credit unions and CUNA Mutual Group alike, and we are committed to ensuring those advocacy efforts continue.
Over the next couple of years, CUNA Mutual said it will be investing to create a more sustainable model that enables development of innovative solutions for credit unions and their members. This includes building upon recent investments in high-priority product areas as Lending, Wealth Management and TruStage.