Through its registered investment advisor affiliate, MEMBERS Capital Advisors, CUNA Mutual Group is expanding its Credit Union Investment Advisory Services.

The Madison, Wis.-based company's said the CUIAS program takes the securities selection, execution and monitoring of an investment strategy off the plate of the credit union and places it on the same as portfolio managers who invest for CUNA Mutual's nearly $10 billion general account.

CUIAS is targeted at credit unions with more than $20 million in investable assets, with the minimum investment being $10 million for durations of one year or longer.

CUNA Mutual said it hired Jeff Weber to help push CUIAS forward. Prior to his role as an investment sales specialist for MEMBERS Capital, Weber served as the managing director of equity trading for Allianz of America, where he was responsible for managing a Standard and Poor's 500 Index Fund with more than $600 million in assets, according to CUNA Mutual.

“The credit union's management remains in total control of the process,” said Ed Meier, director of fixed income investments at MEMBERS Capital. “They review, analyze and approve every transaction as the portfolios are advised by MCA on a non-discretionary basis.”