CUNA Mutual Group and Mortgage Guaranty Insurance Corp. (MGIC), a subsidiary of MGIC Investment Corp., are partnering to provide private mortgage insurance to credit unions.
The new program, known as CUNA Mutual Group Private Mortgage Insurance, provided by MGIC, makes homeownership more accessible to credit union members by reducing risks for lenders.
“Through our new partnership with MGIC, we can now protect credit unions from risk, so they can focus on helping more members reach their dreams of homeownership,” says Laurie Winger, chief financial and product officer at CUNA Mutual Group.
Based in Milwaukee, MGIC has been in business for more than 60 years.
“MGIC is excited to join forces with the highly respected CUNA Mutual Group,” says Jay Hughes, executive vice president of sales and marketing at MGIC. “Together, we look forward to bringing our solutions and experience to the entire credit union sector.”