DUBLIN, Ireland — CUNA Mutual Group's International Division hasexpanded its European operations by opening new Europeanheadquarters in Dublin, Ireland.

|

CUNA Mutual opened the doors on its new overseas location on May1 with Ireland's Minister for Innovation Policy Michael Ahern. Theexpansion comes at the end of a three-year transformation effort atCUNA Mutual.

|

“With the opening of this office, we're positioning for thefuture,” said Sue Albrecht, senior vice president of internationalbusiness at CUNA Mutual. “We're energized to grow and make adifference around the world by providing people with access tofinancial well-being.”

|

CUNA Mutual has had a small office outside Dublin for severalyears and chose the city for its new headquarters because of itsinsurance rules, regulation and governance encourage business.Also, Albrecht said that their tax structure is advantageous.

|

“We feel this is the right business environment, and our valuesalign very well with our target market opportunities,” Albrechtsaid. “The Irish credit unions are very strong, and we believe wecan increasingly leverage the products and services we developed inthe U.S. to support both credit unions and other cooperatives, suchas building societies.

|

At the new headquarters, Albrecht said that CUNA Mutual will notonly be serving credit unions and their members in the region butalso cooperatives and other values-aligned affinity groups andtheir members.

|

“We see great opportunities for growth for CUNA Mutual in theEuropean market,” said Jeff Post, CUNA Mutual president/CEO. “Webelieve the values and characteristics that contributed to ourgrowth in the U.S. and other countries will serve us well in thispart of the world.”

|

One of the things CUNA Mutual is looking to offer the Europeanmarket is its fidelity bond coverage. Albrecht said that while manycompanies offer products such as credit life and credit disabilityinsurance they are not delivered with the same core values as withCUNA Mutual.

|

“Our competitive advantage is that we are more aligned with ourcustomers, both organizations and their members and understand thechallenges they face,” Albrecht said. “We believe credit unions andother affinities will want to do business with us for the samereason their members have chosen them over a bank.”

|

Another opportunity within the European market that CUNA Mutualcites as one of its reasons for overseas expansion is underservedpopulations.

|

“We also believe that there are a number of underservedpopulations in Central and Eastern Europe that would greatlybenefit from our traditional insurance offerings, and over time, wehope to leverage our European operations to bring support to thoseareas and their people,” Albrecht said.

|

CUNA Mutual also has international operations in Canada,Australia, Korea and Latin America.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.