CUNA posts higher net income

For the fifth year in a row, Madison-based CUNA Mutual Group posted a net profit, but dividends fell. CUNA’s net income rose to $162 million in 2013, from $150 million in 2012, a 7.8% increase. Total operating revenues also increased year to year, to $2.8 billion, from $2.6 billion. Policyholder dividends decreased, however, falling from $30.9 million in 2012 to $29.4 million last year. CUNA also paid out more in life and health insurance claims in 2013 ($871 million) compared to 2012 ($868 million).