Dupaco Community CU Returns to CUNA Mutual for Bond Coverage
DUBUQUE, Iowa - It may have taken six years but Dupaco Community Credit Union has once again tapped CUNA Mutual Group for its Credit Union Bond and Special Insurance package programs. According to Dupaco CCU CEO Robert Hoefer, the reason he left six years ago is because at the time CUNA Mutual was simply not competitive in the market. Times have changed as Hoefer cites competitive pricing and flexibility as key reasons for the move back into the CUNA Mutual fold. "I think CUNA Mutual has fine-tuned the product and we felt it was a sound business decision to return," said Hoefer. "We were very pleased with the package they presented to us, including the flexibility on our deductibles. We were always happy with their claims process and it also helps that the organization is fully committed to credit unions." Underwritten by CUMIS Insurance Society Inc., CUNA Mutual's bond covers more than 94% of all credit unions. According to CUNA Mutual Media Relations Manager Phil Tschudy, turnover is not usually an issue as CMG renews 99% of its policies. "Most of the credit unions that do leave usually end up coming back to us," said Tschudy. "I guess that's a testament to having a great bond program in place."