8/18/2016

News Release - CUNA Mutual Group Offers Investment Flexibility with MEMBERS Horizon

New Variable Annuity Helps Credit Unions Better Serve Members’ Financial Planning Needs

MADISON, Wis. – CUNA Mutual Group is helping credit union members better meet their financial goals with the launch of MEMBERS® Horizon – a variable annuity combining market-driven growth potential with personalized risk control to safeguard against dramatic market fluctuations. 

“Our mission is to empower hardworking Americans to secure better financial futures,” said Jeff Bosco, senior vice president, Wealth Management, CUNA Mutual Group. “We play a critical role in helping credit union members understand and make choices that support their financial goals.”

MEMBERS® Horizon offers credit union members a full range of investment options to build a diversified portfolio while setting a limit on loss for a portion of their money, all in one product with no hidden fees. 

According to DALBAR, a leading financial services market research firm, the average investor often underperforms the stock market because they sell during turmoil, sit on the sidelines awaiting stability, and then miss the market’s recovery.1 With this product, investors decide how much of their portfolio to protect from market risk to align with individual risk tolerances and financial goals. 

With the availability of company-sponsored retirement plans on the decline, hardworking Americans today must navigate the complicated world of investments to secure their own retirements. MEMBERS® Horizon brings simplicity and transparency to the process, helping empower credit union members with the information they need to make the right investment choices. 

“In an industry with constant change and market uncertainty, we are focused more than ever on creating investment products and services that are easy to understand,” said Bosco. “Our customer focus has made us one of the fastest-growing annuity manufacturers in the industry.” 

In the wake of the Department of Labor Fiduciary Rule, providing products that advisors can confidently recommend to credit union members to meet their individual needs and best interests is critical. A panel of more than 50 financial advisors, including Justin Dams, financial advisor with CUNA Brokerage Services, Inc. at Veridian Credit Union in Waterloo, Iowa, helped develop MEMBERS® Horizon. 

“As an advisor, I’m looking to provide ways for my members to balance risk and return,” said Dams. “I take pride in helping members understand their investment decisions, so that they can go home and confidently explain the choices they’ve made to their family and friends.”

MEMBERS® Horizon is sold by prospectus through registered representatives. To obtain a prospectus, call 1.800.798.5500 or visit www.membersproducts.com to learn more about the variable annuity’s investment objectives, risks, charges, expenses and other important information before investing. 

About CUNA Mutual Group:
CUNA Mutual Group helps people plan, protect and invest for their future – regardless of their financial standing. The company was founded more than 80 years ago by credit union leaders who were looking for an insurance partner they could trust. Today, CUNA Mutual Group helps credit unions and hardworking Americans build financial security through commercial and personal insurance products; lending and payment security solutions; and risk management, retirement, investment and marketing services. Additional information about the company can be found at www.cunamutual.com.

CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Life, accident, health and annuity insurance products are issued by CMFG Life Insurance Company and MEMBERS Life Insurance Company. Corporate headquarters are located in Madison, Wis.

About MEMBERS® Horizon:
MEMBERS® Horizon is issued by MEMBERS Life Insurance Company (MEMBERS Life), a wholly owned indirect subsidiary of CMFG Life Insurance Company (CMFG Life) and part of CUNA Mutual Group. That means it shares in a long-standing commitment to high-quality retirement products and services that help customers move confidently into the future.

Annuities are long-term insurance products designed for retirement purposes. Many variable annuities, including the MEMBERS® Horizon, offer four main features: (1) a selection of investment options, (2) tax-deferred earnings accumulation, (3) guaranteed lifetime payout options, and (4) death benefit options. Before investing, consider the annuity’s investment objectives, risks, charges and expenses. Call 1.800.798.5500 for a prospectus containing this and other information. Please read it carefully.

Annuity contract values, death benefits and other values fluctuate based on the performance of the investment options and may be worth more or less than your total purchase payment when surrendered. All guarantees are backed by the claims-paying ability of MEMBERS Life and do not extend to the performance of the underlying accounts which can fluctuate with changes in market conditions. 

Withdrawals may be subject to surrender charges, and may also be subject to a market value adjustment (MVA). The MVA can have a positive or negative impact on contract values, depending on how interest rates have changed since the contract was issued. Withdrawals of taxable amounts are subject to ordinary income tax, and if taken before age 59½ may be subject to a 10% federal tax penalty. The range of fees and charges for the MEMBERS® Horizon includes a contract fee of 1.50% to 1.75%, surrender charges of 0% to 9% and management fees that vary by Variable subaccount investment option.

Insurance products are issued by MEMBERS Life, 2000 Heritage Way, Waverly, Iowa 50677. Variable products are underwritten and distributed by CUNA Brokerage Services, Inc., member FINRA/SIPC, a registered broker/dealer and investment advisor. MEMBERS Insurance & Investments is the marketing name for products offered by MEMBERS Life and other leading carriers. Investment and insurance products are not federally insured, may involve investment risk, may lose value and are not obligations of or guaranteed by any depository or lending institution. All contracts and forms may vary by state, and may not be available in all states or through all broker/dealers. Base policy forms 2015-VA-B and 2015-VA-C.


Source:
1 DALBAR, 22nd Annual Quantitative Analysis of Investor Behavior, 2016.

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