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'All Right Moves' on Cumorah, Says Adams

With Friday's failure of Cumorah Credit Union, the head of the industry's primary private insurer expressed new confidence in the health of the private system maintaining that "all the right moves" were made in the out-of-state Nevada takeover.

By Jim Rubenstein | Updated on October 25, 2009

With Friday’s failure of Cumorah Credit Union as a talking point, the head of the industry’s primary private insurer expressed new confidence Monday in the health of the private system maintaining that “all the right moves” were made in the out-of-state Nevada takeover.

“Our other Nevada credit unions are simply working much harder these days in the face of these very difficult challenges but by selecting a healthy Midwest credit union, we’ve created a more diversified and favorable climate for Cumorah’s future,” said Dennis Adams, president/CEO of American Mutual Share Insurance of Dublin, Ohio, the underwriter for Cumorah and six other Nevada CUs, including several of the largest.

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