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CUNA Mutual's CIMCO Becomes Members Capital Advisors.

CHICAGO, Sept. 21 /PRNewswire/ --

CIMCO, Inc., the registered investment advisor affiliate of CUNA Mutual Group, announced it has changed its name to "MEMBERS Capital Advisors," effective today. The announcement was made at CUNA Mutual's Congress, an annual sales conference held in Chicago.

"The name 'MEMBERS Capital Advisors' more closely aligns with and relates to our credit union marketplace, the only market we serve," said Michael Daubs, president of MEMBERS Capital Advisors. Daubs polled the marketplace before renaming CIMCO. "MEMBERS Capital Advisors is a name credit union members told us they can identify with," he said. "One that they can trust."

The MEMBERS Capital Advisors name change is the latest move in CUNA Mutual's efforts to create solid marketplace awareness and recognition that the company's only business is to create financial security for credit unions and their members. Other CUNA Mutual programs using the "MEMBERS" name include MEMBERS Financial Services, MEMBERS Financial Network and MEMBERS Mutual Funds, a diverse family of mutual funds designed by credit union financial management professionals specifically for credit union members, as well as other insurance and investment products.

"Members' needs are clearly something every credit union knows and understands, and the name change helps clarify our position as partners to bring our products to their members," Daubs added. "Our investment products are designed specifically for this market. We don't sell to any others. We understand members' risk tolerance, their need to grow assets, and their vision of financial security. We're in business solely for the success of credit unions and members. Period."

MEMBERS Capital Advisors' strategy is to invest in stocks and bonds issued by companies with good products, strong market positions and solid management that happen to be overlooked and underpriced. Only after careful research are these instruments purchased or sold. Most are held long-term to fully realize the anticipated gain. "The key to success is to remain invested long-term, not buying and selling to time the market or snapping up the latest fad stock," said Daubs.

"We know members want good returns but don't want to bet the farm on unnecessarily high-risk investments. But I wouldn't call our investments conservative. It's just the right mix, and it reflects both return goals and tolerance for risk. Whether in person or by phone, our MEMBERS Financial Services reps focus on identifying the individual member's needs. They conduct a needs-based assessment and go from there. We don't sell products, we offer solutions."

MEMBERS Capital Advisors manages the MEMBERS Mutual Funds, the Ultra Series Funds available in credit union 401(k) plans, the MEMBERS Variable Annuity and Variable Universal Life products. Morningstar, a leading mutual fund rating organization, has regularly placed MEMBERS Capital Advisors-managed funds in the top quartile among its peers.

CIMCO's origins date back to 1879 when an insurance company, which eventually became Century Companies of America (now CUNA Mutual Life Insurance Company), needed to frugally invest premium dollars to pay claims. In 1982, Daubs led the conversion of the company's investments department into Century Investment Management Co., or CIMCO, as it became known. Today, CUNA Mutual Life and CUNA Mutual Insurance Society jointly own the investment advisor, which manages more than $8.2 billion in credit union and members' assets, including the assets of CUNA Mutual Group companies.

"Aligning MEMBERS Capital Advisors with other MEMBERS-branded products and services isn't just a matter of consistency, or of branding for branding's sake. MEMBERS Financial Services reps help nurture member relationships on behalf of credit unions. Their ability now to offer solutions from a like-named investment firm makes logical and emotional sense."

Said Daubs: "Absolutely no other fund family makes that important connection. Other companies are seeking a relationship with the members. We're different. We strengthen the ties so members look to their credit union as their trustworthy primary financial institution."

Another factor differentiating MEMBERS Capital Advisors' products is the sales charge. They are lower than most competitors'. And, being part of a mutual insurance company, the profit goal is set lower than at most other investment management firms.

MEMBERS Capital Advisors has become the leading pension manager within the credit union system. The company manages more than $8 billion in assets and is the wholly owned registered investment advisor for the companies which comprise the CUNA Mutual Group.
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Publication:PR Newswire
Date:Sep 21, 2000
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