CUNA Mutual Capital Project Named One Of Australia's Best
MADISON, Wis. -- CUNA Mutual Group was recently named the winner of Australia's CFO magazine's 2006 "Structured Finance Deal of the Year."
The publication for chief financial officers and senior finance managers presents annual award honors for the biggest deals to emerge on Australia's corporate landscape during the financial year. CUNA Mutual said it assisted 21 Australian credit unions in raising $100 million as part of a first-of-its-kind capital raising project. The project's capital will help the credit unions broaden their access to other capital sources, increase loan growth and expansion opportunities and improve product development. "We did not embark on this capital project with any intention of winning an award," said Mike Celichowski, a director in CUNA Mutual's International Division who headed the project. "Our goal was to help credit unions attain stronger financial and investment foundations, but winning the award certainly recognizes the scope of the accomplishment."
CUNA Mutual employs approximately 85 in Australia with operations headquartered in Sydney, New South Wales and regional sales staff located in Western Australia, Queensland, South Australia, and Victoria. The company has operated in Australia since 1969 as a direct writer and reinsurer.