# CUNA Mutual Group

CUNA Mutual Group is an Insurance based in Madison, United States.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Madison, United States
- **Region:** North America
- **Address:** Madison, WI, United States
- **Founded:** 1935
- **Assets under management:** Undisclosed
- **Website:** cunamutual.com
- **LinkedIn:** https://www.linkedin.com/company/cunamutualgroup

## Regulatory record

- **Reports private funds:** No

## About

CUNA Mutual Group was founded in 1935 by the Credit Union National Association (CUNA) to provide insurance products tailored to credit unions and their members. The firm is led by Robert N. Trunzo, who has served as President and CEO since 2019, succeeding Jeff Post. Trunzo joined CUNA Mutual in 2013 as Chief Administrative Officer after executive roles at Allianz Life and Transamerica. The firm's core business spans property-casualty insurance (including blanket bond and directors & officers liability), life and disability insurance, and retirement plan administration through its TruStage brand. CUNA Mutual also operates a $12B asset management arm, CUNA Mutual Asset Management, which manages fixed-income and equity strategies primarily for credit union balance sheets. The firm's distribution relies on a network of credit union partnerships rather than independent agents, a structural moat that has kept it dominant in the space despite competition from larger carriers. CUNA Mutual employs roughly 4,000 people and maintains additional offices in Milwaukee. The firm's ownership structure is cooperative: policyholders are member-owners, and profits are reinvested or returned as dividends. In recent years, CUNA Mutual has expanded its digital platform through TruStage, an online marketplace for insurance and financial products, and in 2021 launched a partnership with Google Cloud to modernize its data infrastructure (per CUNA Mutual press release, June 2021). Unlike a typical insurance company answerable to equity holders, CUNA Mutual's mutual charter ties its mandate directly to the health of the credit union industry. That alignment — coupled with its exclusive focus on credit unions — creates a distribution advantage that few national carriers can replicate.

## Sectors

- Insurance
- Financial Services
- Retirement & Pensions

## Offices

- Milwaukee, WI, United States

## People

- Robert N. Trunzo — President and CEO

## Questions

### Who runs CUNA Mutual Group?

Robert N. Trunzo has been President and CEO since 2019. He previously served as Chief Administrative Officer and held senior roles at Allianz Life and Transamerica (per CUNA Mutual public filings).

### How does CUNA Mutual Group make money?

The firm earns premiums from property-casualty, life, and disability insurance policies sold to credit unions and their members. It also generates fee revenue from retirement plan administration through its TruStage platform and investment management fees via CUNA Mutual Asset Management, which oversees roughly $12B (per the firm's website).

### Does CUNA Mutual Group compete with standard insurance carriers?

Indirectly. Its core distribution is exclusive to credit unions, so it competes for credit union business against carriers like CNA, Travelers, and The Hartford in niche lines like blanket bond and D&O insurance. In retail insurance, its TruStage brand competes broadly with direct-to-consumer insurers, but the credit union channel remains its primary advantage.

### What subsidiaries or brands does CUNA Mutual Group operate?

Key brands include TruStage (direct-to-consumer insurance marketplace), CUNA Mutual Asset Management (investment management), and CPI Qualcomm (payment protection insurance). The firm also owns historical subsidiaries related to credit union services.

### Where is CUNA Mutual Group headquartered?

The corporate headquarters is in Madison, Wisconsin, with a second major office in Milwaukee, Wisconsin. Both locations serve as operational hubs for underwriting, asset management, and technology teams.

### How is CUNA Mutual Group related to credit unions?

It was founded in 1935 by the Credit Union National Association (CUNA) and remains the primary insurer for the credit union movement in the United States. Virtually all of its business is sourced through credit unions, either as direct institutional clients or as distribution partners for member-facing products.

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Last updated: 2026-06-03T20:00:00.000Z

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