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Michael B. Kitchen President & CEO CUNA Mutual Group Canadian 2003 Recipient
Michael B. Kitchen is President, Chief executive Officer and
Director of CUNA Mutual Group, based in Madison, Wisconsin.
CUNA Mutual Group, the leading provider of insurance and financial
services to credit unions worldwide, has revenues of more than $3 billion,
assets of $9.3 billion, and an international workforce of more than 5,000
employees. The group includes the CUNA mutual Life Insurance Company,
founded in 1879, and the companies of the CUNA Mutual Group, which
originated in 1935 with the founding of the CUNA Mutual Insurance Society.
The companies operate in a number of countries, with primary
operations in the United States and Canada. Kitchen was appointed as President and CEO in 1995, following
three years as head of the CUMIS Group of Canada, a subsidiary. Kitchen has aggressively recommitted the organization to its
chosen industry, credit unions, by focusing the company as a
business-to-business and business-to-member aggregator of high-value
financial products and services. The
companys North American marketplace includes more than 10,000 credit
unions and 80 million credit union members. Kitchen believes that to prosper, CUNA Mutual will need to
partner with credit unions to help grow these not-for-profit financial
cooperatives into nothing less than the Nations best retailers of
financial services. This
requires understanding customers needs and distributing combinations of
quality products and services that contribute to their financial success.
As a result, the company has exited certain product and service
lines and established partnerships with organizations that provide the
excellence CUNA Mutual believes its marketplace deserves.
The group also continues to manufacture and reinvent business line
where it can ensure superior quality internally. Since Kitchen took over in 1995, the organization has
achieved dramatic growth in revenue, significant improvement in
productivity, and a near doubling of financial strength.
In addition, to help employees ultimately bring more of the
organizations capabilities to bear on customer challenges, Kitchen has
fostered a culture of empowerment, teamwork, and responsible risk-taking. Kitchen has been involved in the insurance and financial
services industry for more than 30 years and has held senior positions in
the United States and Canada. He is also very committed and active in the credit union
movement. Kitchen serves on
the Board of Directors for American Insurance Association (AIA) and the
U.S. Chamber of Commerce, in addition to local community organizations.
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