CUNA Mutual Group Investment Process Recertified By Mesirow Financial

From CUNA Mutual Group Public Relations

For more information:
Rick Uhlmann 608.231.8940
Jess Noelck 608.231.7861

MADISON, Wis. – Mesirow Financial’s Investment Strategies department has recertified that CUNA Mutual’s Group’s Retirement Plan Services’ investment selection and monitoring processes are diligent and consistent with industry standards and the Employee Income Retirement Security Act’s (ERISA) fiduciary prudence standard.

Scott Knapp, CFA and CUNA Mutual’s director of investment strategy said, “We take our responsibilities as a service provider seriously. At the top of our priority list is enablement of our plan sponsors to meet their obligations as fiduciaries. Our investment process recertification with Mesirow Financial takes us a long way down that path. We are gratified to have our investment process receive Mesirow Financial’s independent review and endorsement.”

“Our unbiased evaluation of CUNA Mutual’s due diligence process offers advisors, plan sponsors and plan participants added assurance that CUNA Mutual’s investment manager selection process is sound,” says Michael Annin, CFA and senior managing director of Mesirow Financial’s Investment Strategies department. He added, “We look forward to enhancing CUNA Mutual’s commitment to its plan sponsors.”

CUNA Mutual provides investment options and administrative services to employer-sponsored retirement plans. CUNA Mutual applies an initial screening and ongoing monitoring process with respect to the investment options included in its standard investment program available to plans (the “program”). Mesirow Financial’s Investment Strategies department has performed thorough due diligence on the screening and monitoring processes used by CUNA Mutual. Subject to CUNA Mutual’s inclusion of certain disclaimers, Mesirow Financial certifies as follows with respect to the program.

  • The processes and procedures established, and the methodology and criteria used by CUNA Mutual to screen and monitor the investment options included in the program are diligent and consistent with the investment industry standards.
  • The processes and procedures established, and the methodology and criteria used by CUNA Mutual to screen and monitor the investment options included in the program are consistent with the fiduciary standard of prudence set forth in Section 404(a)(1)(B) of ERISA.
  • The investment strategies represented by the investment options in the program provide a suitable basis for constructing well-diversified portfolios for retirement.
  • For any plan with participant-directed investments that elected to comply with Section 404(c) of ERISA, the investment options included in the program offer a “broad range of investment alternatives.”
  • For any plan with participant-directed investments that adopts a designated balanced fund or target retirement date fund as the plan’s default investment option, the option meets the requirement of a “Qualified Default Investment Alternative” (QDIA) under the Department of Labor’s regulation §2550.404c-5(e)(5).

CUNA Mutual Group is a leading provider of financial services to credit unions, their members, and valued customers worldwide. With more than 75 years of true market commitment, CUNA Mutual’s vision is unwavering: To be a trusted business partner who delivers service excellence through customer-focused products and market-driven insight. More information on the company is available on the company’s Web site at

Based in Madison, Wis., CUNA Mutual Group has approximately 4,500 employees worldwide, $15.4 billion in assets, capital of $1.9 billion and annual revenues of $2.8 billion.

Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent, employee-owned firm with approximately 1,200 employees globally. The firm is well capitalized and has been consistently profitable, with capital of $302 million, revenues totaling $510 million for fiscal 2011 and $59.1 billion in assets under management, of which $31 billion are in currency and commodities as of September 30, 2011. With expertise in Investment Management, Global Markets, Insurance Services and Consulting, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals. For more information about Mesirow Financial, visit its website at

This certification is effective as of November 1, 2011, and encompasses only the period during which Mesirow Financial Investment Management, Inc. has reviewed the aforementioned processes and procedures developed by CUNA Mutual. This certification does not certify or endorse the merits of, or future performance of, any individual security or investment strategy.

CUNA Mutual Group is the marketing name of CUNA Mutual Insurance Society, its affiliates and subsidiaries, including CUMIS Insurance Society, Inc.  Product availability and features may vary by jurisdiction and are subject to actual policy language. Corporate headquarters are located in Madison, Wis.

More News