MADISON, Wis. –CUNA Mutual Group said it 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.”
According to the company, 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.
CUNA Mutual cited data from DALBAR, a financial services market research firm, that show 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,” CUNA Mutual said.
“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.”
CUNA Mutual added that 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.”