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CUNA Mutual MIA announce joint investment venture

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MADISON, Wis. (4/20/09)-- CUNA Mutual Group’s MEMBERS Capital Advisors and Madison Investment Advisors, Inc., (MIA) announced a joint venture to form Madison Asset Management, LLC. The venture aims to bring more investment products and resources to credit unions, Jim Buchheim, CUNA Mutual vice president of corporate communications, told News Now. MEMBERS Capital also will be able to put a stronger focus on its core insurance options for credit unions. “While many investment firms have reduced staff, downsized or restructured as a result of the difficult markets over the last two years, MEMBERS Capital and MIA have decided to strengthen their capabilities, which will benefit both entities and our customers,” said Jim Metz, chief operating officer of the asset-management business line of CUNA Mutual. The arrangement adds about $5 billion in assets under management for MIA. CUNA Mutual will focus on developing retirement products and services, including pension and 401(k) products, annuities, life and long-term care products. MIA and its subsidiaries manage about $7.5 billion of actively managed mutual funds, fixed-income portfolios, risk-sensitive equity accounts and personalized balance portfolios. The company has about 75 full-time staff in Madison, Wis.; Scottsdale, Ariz.; and Chicago. The expected closing date for the venture is June 30. Staff working for MEMBERS Capital and MIA will be offered positions by Madison Asset Management, CUNA Mutual said. MEMBERS Mutual Funds and MEMBERS Managed Account Prorams will be offered through CUNA Brokerage Services and other broker-dealers, CUNA Mutual said.

Tool measures ROI for CUNA CFO Council Conference

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MADISON, Wis. (4/20/09)--Credit union finance professionals can calculate their return on investment in attending the 15th annual CUNA CFO Council Conference and Roundtable, May 17-20, in Las Vegas. The council has posted a Conference ROI Calculator spreadsheet on its website. “The conference is not an expense, but an investment in the credit union's future,” said Peg Lamb, council treasurer and senior vice president of finance for DFCU Financial CU in Dearborn, Mich. “The networking alone is one of the best reasons to attend. Educational sessions that teach new concepts and offer take-aways that can be immediately implemented back at the credit union.” Individuals can input their conference expenses on the calculator, check all of the boxes of interest, and go to the bottom of the spreadsheet to find the ROI. “These are hard facts just waiting to be shared with your CEO about attending the conference,” says Lamb. The conference’s sessions include:
* State of the Economy--How the recession, mortgage crisis and bailouts will affect credit union balance sheets and earnings performance; * Liquidity Management--How Much is Enough, Where to Find More and How Much Will it Cost? * Effective Asset/Liability Management Strategies for Volatile Markets; * The Ethical Missteps in the 2008 Financial Crisis; * Merger Strategies for Uncertain Times; * Earnings Improvement Opportunities With ABC and Product Profitability Management; * Income Generators and Expense Reducers; * Financial Accounting Standards Board Update: Accounting Issues; and * Productive Chaos: Riding the Wave of Change.
A special National Credit Union Administration (NCUA) session will be held May 19 to discuss the corporate stabilization program. J. Owen Cole, director of NCUA’s Office of Capital Markets and Planning, will provide attendees on the latest information and regulations. For more information, use the links.