Press
CUNA Mutual to Work with Transamerica on Four Variable Annuities for Members
NEWS RELEASE:
From CUNA Mutual Group Public Relations
www.cunamutual.com
For more information:
Michelle Larson 608.231.8310 michelle.m.larson@cunamutual.com
Rick Uhlmann 608.231.8940 rick.uhlmann@cunamutual.com
MADISON, Wis. — CUNA Mutual Group and Transamerica Life Insurance Company (Transamerica) will work together to offer four variable annuities to credit union members under CUNA Mutual’s MEMBERS product brand.
The variable annuities will be launched under the names MEMBERS® LandmarkSM, MEMBERS® LibertySM, MEMBERS® ExtraSM and MEMBERS® FreedomSM, and will provide a broad suite of retirement solutions for credit union members. “Each MEMBERS Variable Annuity will have its own unique features,” commented Kevin Thompson, senior vice president of Asset Accumulation Products at CUNA Mutual. These annuities will replace the existing offering of MEMBERS Variable Annuity products, according to Thompson. There will be no impact to existing MEMBERS annuity contract holders.
CUNA Mutual has been manufacturing annuities since the 1980s and the relationship with Transamerica will complement the company’s existing “all-weather” portfolio of fixed, index and single premium immediate annuities.
“Annuities are increasingly being recognized as an important income generation tool for those in retirement,” said Bob Buckingham, vice president and Annuity Product manager for CUNA Mutual. “These annuities will enhance our product suite that will benefit members of credit unions nationwide as they save for and live in retirement.”
Transamerica Life Insurance Company, an AEGON company, traces its roots back to the early 1900s1 and is rated A+ (Superior) for financial strength, second highest rating out of 16, by A.M. Best as of July, 2010.
“We are impressed with CUNA Mutual’s commitment to credit unions and their members,” said Tom Swank, president and CEO of Transamerica Capital Management. “They bring a great deal of knowledge, expertise and professionalism to this new relationship.”
The newly branded MEMBERS Variable Annuities are expected to be available in a majority of states beginning May 2, 2011.
CUNA Mutual Group insurance, retirement and investment products provide financial security and protection to credit unions and their members 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 website at www.cunamutual.com.
CUNA Mutual Group is the marketing name of CUNA Mutual Insurance Society, its affiliates and subsidiaries, including CUMIS Insurance Society, Inc, CUNA Brokerage Services, Inc. and CUNA Mutual Insurance Agency, Inc. Product availability and features may vary by jurisdiction and are subject to actual policy language. Corporate headquarters are located in Madison, Wisconsin.
Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free 800.369.2862. Non-deposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by any credit union. CBSI is under contract with credit unions, through the financial services program, to make securities available to members.
Variable annuities issued by Transamerica Life Insurance Company, Cedar Rapids, IA. Underwritten and distributed by Transamerica Capital, Inc. Transamerica Capital Management is a business unit of Transamerica Life Insurance Company and Transamerica Capital, Inc. Variable annuities may lose value and are subject to investment risk, including possible loss of principal.
Before investing, consider the variable annuity’s investment objectives, risks, charges and expenses. Contact the MEMBERS Product Sales Desk at 877.345.GROW (4769), option 1 for a contract and fund prospectus containing this and other information. Please read it carefully.
All policies, riders and forms may vary by state, and may not be available in all states or through all broker/dealers. AV920 101 168 603, AV924 101 168 603, Oregon AV1068 101 168 603, AV1140 101 192 604, AV1332 101 192 604, Oregon AV1375 101 192 604, AV864 101 165 103, AV893 101 165 103, Oregon AV1372 101 165 103, AV950 101 175 603, AV959 101 175 603, Oregon AV1360 101 175 603
1Occidental Life Insurance Company was founded in 1906.