PenFed and CUNA Mutual Group Join Forces to Enhance Wealth Management Services to Members

PenFed Credit Union’s more than 1.6 Million Members Can Now Take Advantage of New Investment Services through CUNA Brokerage Services, Inc.

MADISON, Wis. – CUNA Mutual Group and PenFed Credit Union, the nation’s second largest federal credit union with more than $23 billion in assets, today announced they will partner to offer wealth management and investment services to more than 1.6 million PenFed members through CUNA Mutual Group’s affiliate, CUNA Brokerage Services, Inc. (CBSI).

“CUNA Mutual Group and PenFed share a common mission that centers around helping people plan for and secure their financial futures,” said Rob Comfort, president, CUNA Brokerage Services, Inc. “This new relationship will provide much broader access for PenFed members to critical financial advice that will help more members and their families.”

Today, PenFed offers its members a comprehensive portfolio of wealth management services including financial planning, investment management and trust and fiduciary services. PenFed Wealth Management currently has financial advisors across the continental U.S. and Hawaii.

“This is great news for our members. Through our expanded relationship with CUNA Mutual Group, PenFed members will now have access to more onsite financial advisors in additional markets and enhanced offerings including the MEMBERS® Annuities,” said Shashi Vohra, PenFed Executive Vice President and President, Affiliated Businesses. 

CBSI is the leading broker-dealer and registered investment advisor serving the credit union industry and offers a full range of investment and insurance solutions empowering credit unions to help their members achieve financial security. CBSI has approximately 285 credit union programs, 430 advisors, and more than $25 billion in assets under management.