CUNA Mutual Group

Overview

CUNA Mutual Group is a financial services company that offers insurance and investment products to credit unions and their members. The company provides a range of services, including insurance, asset management, employee benefits, and technology solutions. It operates in the United States and several international markets, including the Dominican Republic, Jamaica, Puerto Rico, and Trinidad and Tobago. CUNA Mutual Group is headquartered in Madison, Wisconsin. The company's investment activities encompass various asset classes, such as fixed income, private equity, real estate, and venture capital. CUNA Mutual Group engages in investments across multiple stages, including early stage, growth, late stage, pre-IPO, buyout, turnaround, and distressed situations. Its geographical focus includes the United States and several international markets. CUNA Mutual Group has a history of strategic acquisitions and partnerships to enhance its offerings. Notably, in 2018, it acquired Mirador, a financial technology startup specializing in digital small business lending platforms. This acquisition aimed to complement CUNA Mutual Group's existing portfolio of lending solutions and support credit unions in growing small business loans. Additionally, in 2021, CUNA Mutual Group partnered with LPL Financial to enhance digital experiences for credit union members and financial advisors, further strengthening its position in the financial services industry. In 2021, CUNA Mutual Group reported record financial performance, with $5 billion in revenue, $622 million in net income, and $36.7 billion in assets under management. The company provided $1.8 billion in benefits to customers and their beneficiaries, including $76.6 million in COVID-related claims. Through its venture capital arm, CMFG Ventures, CUNA Mutual Group made significant investments in fintech startups and launched the Discovery Fund, a $15 million venture capital fund dedicated to early-stage companies founded by people of color, women, and the LGBTQ+ community, demonstrating its commitment to equity and inclusion. CUNA Mutual Group's investment philosophy focuses on supporting initiatives that align with its mission to make brighter financial futures accessible to more consumers. By strategically investing in various asset classes and stages, the company aims to drive growth and innovation within the financial services sector, benefiting credit unions and their members.

Investment Focus

• Alignment with credit union values
• Focus on financial services innovation
• Commitment to community development
• Demonstrated potential for growth
• Strong management teams

Portfolio Companies