Founded in 1982, MEMBERS Capital Advisors, Inc. (MCA) is a wholly owned registered investment advisor subsidiary of CUNA Mutual Group. Serving 95% of U.S. credit unions for more than 80 years, CUNA Mutual Group protects nearly 30 million people, has more than 43,000 financial advisors helping people across the nation, and is expanding the footprint in the financial services industry. MCA has more than $21.5 billion of general account assets under management (AUM) for CMFG Life Insurance Company and other CUNA Mutual Group entities, as of March 31, 2021.

MCA’s investment philosophy is centered on the belief that incremental value can be added through both security and sector selection, coupled with rigorous internal credit approval and underwriting processes. MCA’s objective is to produce strong and consistent levels of risk-adjusted net investment income and competitive total returns through market cycles, while strictly controlling risk and protecting surplus.

MCA manages a combination of Public and Private Investment Grade and High Yield Corporate Bonds, Municipal Bonds, Structured Securities, U.S. Treasury/Agency/Foreign Government, Stocks, Limited Partnerships, Infrastructure and US Dollar Emerging Market Debt, Preferred Securities, and Commercial Mortgage Loans.

MEMBERS Capital Advisors Commercial Mortgages & Real Estate Group is responsible for investing on behalf of CMFG Life Insurance Company and select third party investors. We support CUNA Mutual Group’s various lines of insurance and financial products by originating high debt positions in commercial real estate. Our mortgage portfolio continues to grow with a current value in excess of $2.8 billion, as of March 31, 2021. Annual production volume for CMFG Life Insurance Company and its clients has averaged approximately $468 million over the past four years. Our real estate professionals possess in-depth market knowledge and have developed strong relationships within the industry. Commercial mortgages are originated through a national network of mortgage banking correspondents. We offer competitive spreads for a variety of property types including retail, office, multifamily, and industrial. The loan program also accepts proposals for self-storage, student housing, manufactured housing, mixed-use, and parking structures on a case by case basis.

The Mortgage Loan Program

Our investment structure brings a high level of autonomy to be efficient and responsive throughout the process. Key decision-makers are included in the early stages of the origination process, providing surety of execution and enhanced flexibility. We accept loan requests between $3 and $35 million and offer a variety of prepayment structures and a forward funding program. Our closing process is straightforward and helps ensure that due diligence is completed in a timely manner. We use our own in-house counsel during the commitment process and work with a network of seasoned, local attorneys to expedite the loan closing process. We understand that real estate is a relationship business and we value our professional network. This understanding results in close, long term partnerships with our correspondents and repeat borrowers. We provide quick turnaround times for quotes and loan approvals, and lock-in rates at application prior to deal approval and third-party report receipt.

Experience Builds Success

Solid fundamentals and an experienced team have resulted in historically strong investment results for CUNA Mutual Group. The team is experienced in multiple fixed income sectors with long-standing dealer and sponsor relationships that provide continuous investment opportunities. MCA’s leadership team is comprised of the President & Chief Investment Officer, Senior Managing Directors and Managing Directors who lead asset classes and the credit research function, the Chief Risk Officer as well as the Business Manager and other key business partners across the enterprise.

Leadership Team

Dave Brown, President, MEMBERS<sup>™</sup> Capital Advisors; EVP & Chief Investment officer, CUNA Mutual Group

Dave Brown
President & CEO, MEMBERS Capital Advisors, Inc. Executive VP & CIO, CUNA Mutual Group

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Amy Cameron, Senior Managing Director, Fixed Income

Amy Cameron
Senior Managing Director, Private Assets

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Anne Finucane, Senior Managing Director, Investments

Anne Finucane
Senior Managing Director, Public Assets

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Ben Wydick, Chief Risk Officer

Ben Wydick
Chief Risk Officer, MEMBERS Capital Advisors, Inc.

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Heather Holler, Business Services Manager

Heather Holler
Business Services Manager

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Al Cantrell, Managing Director, Alternatives

Al Cantrell
Managing Director, Alternatives

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Kevin Coombe, Structured Securities

Kevin Coombe
Managing Director, Structured Securities

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Tom Jensen, Managing Director, Commercial Mortgages

Tom Jensen
Managing Director, Commercial Mortgages

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Steve Lyons, Managing Director, Public Fixed Income

Steve Lyons
Managing Director, Public Fixed Income

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Jason Micks, Managing Director, Credit Research

Jason Micks
Managing Director, Credit Research

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Stan Van Aartsen, Managing Director, Private Placements

Stan Van Aartsen
Managing Director, Private Placements

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Tom Webber, Managing Director, Public Fixed Income

Tom Webber
Managing Director, Public Fixed Income

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Key Business Partners

Brian Borakove, President, MEMBERS<sup>™</sup> Capital Advisors, Inc; VP, Corporate Treasurer, CUNA Mutual Group

Brian Borakove
Chief Financial Officer, MEMBERS Capital Advisors, Inc. VP, Corporate Treasurer, CUNA Mutual Group

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Melissa Dove, HR Business Partner

Melissa Dove
HR Business Partner, MEMBERS Capital Advisors, Inc., CUNA Mutual Group

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Ben Killips, Counsel

Ben Killips
Counsel, MEMBERS Capital Advisors, Inc. CUNA Mutual Group

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John Landers, VP, Chief Compliance Officer

John Landers
VP, Chief Compliance Officer, MEMBERS Capital Advisors, Inc. CUNA Mutual Group

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