CU Mutual and Life Insurance Society

 
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About Credit Union Mutual Insurance Society

CU Mutual Insurance Society (Towarzystwo Ubezpieczeń Wzajemnych Spółdzielczych Kas Oszczędnościowo-Kredytowych; TUW SKOK) became a part of Poland's credit union system in 1997 and has been providing insurance of credit union institutions since that time. Besides institutional insurance, it also offers property and personal insurance to credit union members, including: flat insurance, insurance of credit union borrowers, accident insurance, payment card insurance and others. Attractive terms of the insurance, designed specially for credit union members, make the Society's offer particularly competitive. In October 2007 the Society became a member of the European Forum of Deposit Insurers. By the same, Poland joined the group of the countries that are represented in EFDI by more than one institution providing guarantees of deposits. Until that time the EFDI member representing Poland had been the Banking Guarantee Fund, guaranteeing only bank deposits. Since 1998 CU Mutual Insurance Company has been insuring all the savings pooled in credit unions. All credit unions are obliged to insure savings of each and every credit union member. Under that insurance, in the event of a credit union going bankrupt, each of its members would be returned his/her savings, in full, up to the amount of EUR 100 000.

The Society is a member of ICMIF (International Co-operative and Mutual Insurance Federation), an organisation in which insurance societies from 72 countries of the whole world are associated. The objective of the organisation is to support development of mutual and co-operative insurance and promote international co-operation on the global market of insurance services.

CU Mutual Insurance Society is one of Poland's few insurance institutions to hold an ISO 9001:2000 quality certificate covering the whole scope of its operations and ensuring a high level of - permanently improved - system of services to its members.



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