Bob Trunzo Named President of CUNA Mutual Group Subsidiary
August 28, 2012
August 28, 2012
Robert N. Trunzo has been promoted to president of CMFG Life Insurance Company at CUNA Mutual Group, a role in which he is responsible for the products, distribution and service of the company’s U.S. credit union businesses as well as its 401(k) business.
In the new leadership position, CUNA Mutual Group’s Asset Accumulation and Retirement Services businesses now report to Trunzo, along with the company’s Information Technology area. With this promotion, Trunzo is now responsible for nearly 3,000 of the company’s 4,500 employees and approximately $2 billion of CUNA Mutual Group’s annual revenues.
“Since joining the company in 2005, Bob has built a strong leadership team and improved the products and services we deliver to credit unions and their members,” said Jeff Post, president and CEO of CUNA Mutual Holding Company, the parent of CMFG Life. “Bob is well suited to take on additional responsibilities to help us continue this momentum in our core businesses.”
According to Troy Stang, president of the Northwest Credit Union Association (NWCUA), Trunzo’s promotion bodes well for credit unions nationwide, citing Trunzo’s intimate understanding of the relationship between credit unions and consumers—and his progressive work in leveraging that knowledge.
“Bob really dove deep in product development for CUNA Mutual Group and has taken the time to understand where the value proposition of credit unions is intriguing to consumers,” Stang said. “This announcement is welcomed and appreciated, because Bob has invested a lot of energy in understand just who we are as a movement.”
Trunzo’s priorities are focused on the top three needs identified by credit unions: lending, compliance and income.
“The credit union system has momentum. Member growth, improving ROAs, stronger capital has created a growing sense the system has weathered the economic storm,” Trunzo said. “The focus of the credit union business at CUNA Mutual Group is to help continue this momentum and prove to consumers that switching to a credit union was the right decision.”
Under Trunzo’s leadership, the company has added and expanded programs to support credit union lending, including the development of Smartphone Loans. In 2012, CUNA Mutual Group is on pace to generate more than $1 billion in loan volume for credit unions.
In addition, the company is aggressively expanding its consumer business to help credit unions grow income and membership under the newly launched TruStage brand, through which CUNA Mutual Group aims to grow its consumer insurance and investment business by expanding its awareness with the more than 95 million credit union members and introducing non-members to credit unions.
Trunzo joined CUNA Mutual Group in 2005 after serving in a variety of insurance leadership roles. He also served as Secretary of Commerce under former Gov. and current U.S. Senate candidate Tommy Thompson. In addition, Trunzo served as chairman of Southeast Wisconsin Professional Baseball Park District, the board which oversaw the design, financing and construction of Miller Park, home of the Milwaukee Brewers.
While he will continue to be based in CUNA Mutual Group’s headquarters in Wisconsin, credit unions in Oregon and Washington can expect easy communication with Trunzo, who “is no stranger to the Northwest,” Stang said. “He has spent a great deal of time here and has a thorough understanding of our unique region and our marketplace.”
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