CUNA Mutual To Sell Transamerica Annuities
MADISON, Wis. – CUNA Mutual Group said this afternoon it is now offering Transamerica’s four variable annuities to members at thousands of credit unions under CUNA Mutual’s MEMBERS brand.
CUNA Mutual will sell the Transamerica annuities under the names MEMBERS Landmark, MEMBERS Liberty, MEMBERS Extra and MEMBERS Freedom, providing an expanded suite of retirement solutions for credit union members. “Each MEMBERS Variable Annuity will have its own unique features,” said Kevin Thompson, senior vice president of Asset Accumulation Products for the credit union insurer.
The Transamerica 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 offering annuities since the 1980s and its deal with Transamerica will complement the company's existing “all-weather” portfolio of fixed, index and single premium immediate annuities.
The newly branded MEMBERS Variable Annuities are expected to be available in a majority of states beginning May 2.