It was also another strong year of growth for CUA Health, with more than 8,600 new policies taken out during the year. We now provide private health insurance to 80,278 Australians.
Credicorp has grown as anticipated this year following our decision in 2014 to invest in the development of a new product suite and in particular to expand our product range to include a protection offer for members with a home loan. Around 4,600 new policies were taken out during the year and we now provide consumer credit insurance protection for 14,200 members.
CUA is evolving to ensure we are a genuinely Purpose-led organisation. The CUA team, including our members, have been actively involved in refreshing and renewing our Purpose during the past year. It’s exciting to see our renewed Purpose – members working together through life’s changes for mutual good – coming to life.
This is all part of our continuing transformation toward a modern mutual that reflects the needs, hopes and aspirations of our members and the communities to which they belong.
The Board also approved investment in two key areas which will further transform CUA by strengthening its foundations for the future:
- Our Mutual Good Strategy – to lift and strengthen our community investment and partnerships; and
- A new organisational structure to ensure we have the people with the skills and capability needed to deliver on our Strategy