MADISON, Wis. — CUNA Mutual Group said it has some aggressiveplans in the works to acquire businesses in the 401(k) providerspace.
The company said it currently offers 4,500 plans to 105,000participants and is the largest 401(k) provider in the credit unionindustry with a 60% market share. According to Kevin Thompson, vicepresident, asset accumulation products at CUNA Mutual, a threeprong strategy has been presented to the company's board thatincludes maintaining and growing its credit union business,increasing distribution and buying 401(k) providers.
“We're pretty aggressively looking to acquire businesses in the401(k) space,” Thompson said. “It is a demonstration to thecommitment of [CUNA Mutual's] product.”
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