Despite continuing economic pressures, CUNA Mutual Group posted a strong performance in key financial measures through the third quarter of 2011.
The company’s credit union business played a significant role in its positive operating gain and revenue performance. With growth in its consumer business areas, operating revenue on continuing operations grew 5.8% year-to-date.
Net income grew in the third quarter to $97 million year-to-date, despite paying out more in catastrophe claims and weather-related crop insurance claims.
“Overall, our results through the third quarter reflect the hard work of the organization and the strength of a diversified portfolio of products,” said Jerry Pavelich, chief financial officer. “We will continue to do all we can to help credit unions and their members as the economic environment remains difficult, with high unemployment, volatile markets and low interest rates.”