Now a subsidiary of The Co-operators Group, CUMIS (Credit Union Members Insurance Society) was founded in 1935 to serve the insurance needs of North American credit union and caisses populaires members.
In Canada, CUMIS offers credit & mortgage insurance, home & auto insurance, and travel insurance tailored to credit union members, and also offers business insurance protection and retirement services to credit unions themselves.
Founded | 1935 | |
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Headquarters | Burlington, Ontario | |
Employees | 312 (2019) | |
Insurance Products | Auto, Liability, Home, Renters, Condo and Travel Insurance for individuals, Business Insurance for credit unions | |
Provinces Licensed | AB, BC, MB (life insurance only), NB, NL, NWT, NS, NU, ON, PEI, QC, SK, YT |
Contact one of our insurance brokers to get a quote from CUMIS for coverage in Ontario: Speak with a broker today: 1-800-731-2228
CUMIS talks about “The Lesson of the Lineman” as its origin story. As the story goes, a power company lineman (and credit union member) had taken out a sizable loan, and then died in a workplace accident mere days later, leaving his family in financial straits. His fellow workers rose to the occasion and started a fund to support the family. Out of this tragedy arose an awareness of the need for insurance protection, and CUMIS was born. CUMIS offers a wide array of insurance and retirement services to credit union members, as well as business insurance services for credit unions and caisses populaires.
The only insurance company in Canada that has a Service Review Panel. This panel is made of client volunteers, and adds another level of dispute resolution, beyond that found at other insurance companies. Decisions of the panel are binding on the company, but any change can only affect the client for the better.
CUMIS offers a range of insurance and retirement services for credit unions and their members.
A suite of products that will pay off outstanding credit balances in the event of unexpected death or serious illness.
CUMIS offers all mandatory auto insurance coverages required in your province or territory, plus a wide range of optional coverages, including collision and comprehensive coverage.
This insurer offers an optional coverage called a Driving Record Protector – which means your rates are protected if you are at-fault in an accident (first at-fault only).
They have also put together the following packages of optional coverage for your convenience:
The following discounts may apply:
Note that the availability of optional coverages and discounts may vary by province.
In addition to cars and trucks, CUMIS also provides insurance for ATVs, snowmobiles, motorcycles, motorhomes and trailers.
A variety of options are available for home, condo and tenant coverage through CUMIS. In addition to coverage for personal liability, contents, and physical damage to buildings where applicable, every policy includes identity fraud coverage at no extra cost.
CUMIS offers the following optional coverages for home, condo and tenants policies:
The following discounts may apply to your home, tenants or condo policy:
Emergency travel medical insurance is available from CUMIS for credit union members. A variety of different plans to meet all your travel needs, large or small.
This plan can combine all-of-the-above medical and non-medical coverages, and offers significant savings over purchasing each policy individually.
Credit Unions that take advantage of CUMIS’ bonding program benefit from a wide range of risk management solutions, as follows:
Protection against employee theft or dishonesty, payment fraud, robbery and related losses.
Protects organizations from liability arising from failure to meet the professional standards.
Protection for a credit union’s directors and officers against personal legal liability.
Protection from claims related to employment practices.
This coverage protect your credit union in the event that it inadvertently discloses private information of its members or third parties.
CUMIS also offers protection in the event that a member using a credit union’s online banking solution becomes the victim of fraud, identity theft or a loss of personal information.
CUMIS offers a suite of property and casualty coverages that’s tailored to the unique needs of credit unions.
CUMIS also offers a variety of other coverages, including equipment breakdown and buyer protection (warranties) for the credit union’s debit card holders.
Credit Unions employ thousands of Canadians, and in order to remain competitive for the best talent, it’s essential to offer a package of benefits that includes retirement savings.
CUMIS is able to offer a number of retirement savings options as follows:
CUMIS can tailor a plan to the needs of any credit union or caisse populaire in Canada.
Services include:
CUMIS offers flexible payment options, including credit card, pre-authorized payments or cheque. Pre-authorized payments can be scheduled weekly, bi-weekly, monthly or semi-monthly.
Contact one of our brokers for an insurance quote from CUMIS Services Incorporated: Speak with a broker today: 1-800-731-2228
Mitchell & Whale Insurance Brokers has been voted as the 2018 Ontario insurance brokerage of the year by the IBAO. Read more
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