Porter Resigns as CEO of CUMIS in Canada

BURLINGTON, Ontario, Canada - After nine years as CEO of CUMIS of Canada, T. Michael Porter has announced he will step down. Porter is also resigning his role as venture manager of the Credit Union Insurance Services (CUIS) program. CUMIS of Canada is a subsidiary of CUNA Mutual Group. CUMIS Group, based in Burlington, Ont., markets insurance, retail and wealth management products to Canadian financial co-operatives, credit unions and caisses populaires and their members. The principal companies of CUMIS Group are: * The CUMIS Group Limited * CUMIS Life Insurance Company * CUMIS General Insurance Company * Canadian Northern Shield Insurance Company * CUIS Brokerage Services Limited In his resignation Porter said, "I have especially enjoyed the people - including our customers at Canadian credit unions and caisses populaires, my fellow employees, our partners at provincial centrals and system strategic partners, and the team at CUNA Mutual Group, which provided tremendous support and guidance throughout the years. I will always appreciate the relationships and friendships that I was able to forge, and I will forever hold close to me the core values of the system and CUMIS." Prior to coming to CUMIS, Porter was a 25-year veteran of the insurance industry. CUMIS has provided a variety of insurance, retirement and wealth management services to the Canadian credit union movement since 1937. Chris Catliff, CUMIS Chairman reassured customers by saying, "The CUMIS Group has a solid 2006 business plan and a five-year strategic plan that will guide the organization's focus for years to come, while also ensuring continued success for our customers and organization. He will be missed but we wish him happiness, health, and success as he enters this next phase of his life." The organization says its "top priority is to walk in step with credit unions across Canada." A search has begun to find a replacement. Porter said he would stay on until a new CEO is on board.