The nation's third largest credit union began offering newinsurance products to its members, a growing industry-wide trendthat can help boost non-interest revenue.

CUNA Mutual Group said Wednesday that the $21.3 billion Pentagon Federal Credit Union in Tysons,Va., is making its TruStage accidental death & dismembermentand life insurance available to the credit union's 1.4 millionmembers.

While cooperatives know insurance sales can increase noninterestincome, a LIMRA 2016 Bank and Credit Union Life Insurance studyfound 78% of financial institutions said growing life insuranceproducts and services is an important priority.

Although sales of any kind of insurance were just 5.1% ofnoninterest income at credit unions, a survey of 170 creditunions by Callahan & Associates, found that roughly one in five(18.2%) said offering insurance products to members was on theirradar.

In 2015, TruStage paid more than $80 million in non-interestincome to credit unions. In addition, credit unions with more thana $1 billion in assets saw a median non-interest income growth rateof 11.4%, according to CUNA Mutual Group.

“TruStage is clearly committed to delivering a compellingexperience for our members' life and AD&D protection needs,”said Shashi Vohra, PenFed executive vice president and president ofaffiliated businesses, said.

“Their investment in innovation and digital capabilities was amajor factor in our decision to make TruStage available to ourmembers.”