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

Posted April 19 2018
by Media Relations

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.

About PenFed Credit Union:

Established in 1935 as the War Department Credit Union, Pentagon Federal Credit Union (PenFed) is America’s second-largest federal credit union, serving over 1.6 million members worldwide with more than $23 billion in assets. Our long-standing mission has been to provide superior financial services in a cost-effective manner, while being responsive to members’ needs. PenFed Credit Union offers market-leading mortgages, automobile loans, credit cards, student loans, checking, certificates, and a wide range of other financial services with members’ interests always in mind. PenFed Credit Union serves a diverse population, and no military service is required to join. PenFed Credit Union offers many paths to membership, including numerous employee groups and association affiliations. PenFed Credit Union is federally insured by the NCUA and is an equal housing lender. To learn more about PenFed Credit Union, visit, like us on Facebook and follow us @PenFed on Twitter. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.

About CUNA Mutual Group:

CUNA Mutual Group is a financially strong insurance and investment company. For generations, we’ve partnered with credit union leaders to protect and grow their businesses, and help people plan, protect and invest for their future. CUNA Mutual Group offers commercial and personal insurance products; lending and payment security solutions; and retirement, investment and marketing services. Additional information about the company can be found at

About CUNA Brokerage Services, Inc.:

CUNA Brokerage Services, Inc. (CBSI) provides broker-dealer and registered investment advisory services to credit unions throughout the nation, offering a full range of investment and insurance products to help credit unions help their members reach a more secure financial position. CBSI, an affiliate of CUNA Mutual Group, is the leading broker-dealer serving the credit union marketplace. CBSI has more than 285 credit union programs, 430 active advisors, with more than $25 billion in assets under management.

CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Corporate headquarters are located in Madison, Wis. Insurance and annuity products are issued by CMFG Life Insurance Company and MEMBERS Life Insurance Company, 2000 Heritage Way, Waverly, IA. 50677. Variable Products are underwritten and distributed by CUNA Brokerage Services, Inc., member FINRA/SIPC, a registered broker/dealer and investment advisor.
Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, may lose value, no financial institution guarantee. Not a deposit of any financial institution. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. 

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