CUNA Mutual Group's MEMBERS Capital Advisors has linked up with Madison Investment Advisors Inc. to form a new entity that will provide members with a broader array of investment managers and products.

The new venture, Madison Asset Management LLC, will allow CUNA Mutual to focus on developing competitive retirement-focused products and services, including its pension and 401(k) products, annuities, life and long-term care products. The joint arrangement adds approximately $5 billion in assets under management to Madison Investment Advisors, which is based in Wisconsin.

MEMBERS Capital's mutual funds and the managed account programs will continue to be offered through CUNA Brokerage Services as well as through other approved broker-dealers, according to the company. The Ultra Series fund will continue to serve as one of the investment options that support the MEMBERS variable insurance products, including variable annuities, and within the marketed CUNA Mutual Group 401(k) plans.