For more information:
Rick Uhlmann 608/231-8940 rick.uhlmann@cunamutual.com 
Jim Buchheim 608/232-6327 jim.buchheim@cunamutual.com

Oct. 18, 2007

Fitch Affirms CUNA Mutual Financial Strength Rating
Operational Restructuring Viewed Positively in AA- (Very Strong) Rating

MADISON, Wis. – Fitch Ratings has affirmed the ‘AA-’ insurer financial strength rating of the companies that comprise CUNA Mutual Group.  The global ratings and research company viewed positively CUNA Mutual’s operational restructuring in view of the declining number of U.S. credit unions.

The ‘AA-’ (Very Strong) rating and “Stable” outlook apply to the principal companies of CUNA Mutual Insurance Society: CUMIS Insurance Society, Inc., a property and casualty subsidiary and affiliate CUNA Mutual Life Insurance, which is expected to merge with CUNA Mutual Insurance Society by year-end.

In reaffirming the ‘AA-’ rating, Fitch recognized CUNA Mutual’s strong relationships and market position within the credit union marketplace and good overall balance sheet fundamentals. Fitch also identified concern over the decreasing number of credit unions and increased price competition among insurers serving the credit union marketplace.

Fitch said it “views positively the company’s efforts to lower costs and improve its position in an increasingly competitive market.” It also cited CUNA Mutual’s consolidation efforts and operational restructuring as ways of addressing the marketplace challenges.

“We find it encouraging that Fitch views favorably our operational restructuring,” said Jeff Holley, Executive Vice President and Chief Financial Officer. “Our three-year transformation is focused on preparing the company for the future -- including positioning CUNA Mutual for expansion into new markets that can support growth for the company and credit unions.

“All of the decisions CUNA Mutual is making are aimed at ensuring our relevance to customers and as an employer long into the future.”

Fitch said CUNA Mutual's improvement in year-to-date 2007 results are a reflection of better commercial fidelity product results, investment returns and direct financial results from the operational restructuring. Fitch added it expects CUNA Mutual to continue on its improved earnings trend for the balance of 2007.

Fitch is a global ratings and research company with an international ratings presence.

CUNA Mutual Group is the leading provider of financial services to credit unions and their members worldwide. More information on the company is available at www.cunamutual.com.