Tuesday, May 22, 2018

CUNA Mutual Group Executive Benefits Program Passes $3 Billion in Assets Under Management


Our Executive Benefits Program for credit unions continues to generate rapid growth. As announced today, the program recently reached its $3 billion milestone in assets under management. 

Now in its 20th year, the program leads the industry, serving more than 1,200 credit unions with plans for over 3,800 executives. In the past five years, assets under management more than doubled -- up from $1.3 billion at year-end 2013. And, it boasts a 97 percent retention rate, which allows invested funds to continue growing. 

“Customers stay with us because of the service and credentialed support we provide in the fiduciary and compliance components of our plans,” said Bruce Bauer, CUNA Mutual Group senior executive benefits specialist. "Of particular benefit now is the company’s expertise relative to new excise tax planning, which requires understanding, strategy and collaboration with a credit union-knowledgeable attorney.

“We began our Total Benefits Pre-Funding plan in 2012 with the help of CUNA Mutual Group,” said David Solis, chief financial officer, GECU, El Paso, Texas. “They recommended a funding program to include Business-Owned Life Insurance (BOLI) and a managed investment account through their vendor, City National Rochdale. For six years, the funding program has allowed GECU to offer a robust total benefits pre-funding plan for its employees.”

For more information, see today's full press release, contact your CUNA Mutual Group Executive Benefits Specialist or go to www.cunamutual.com/executivebenefits.