N-30B-2 1 e73256.htm

[CUNA Mutual Group/CUNA Mutual Insurance Society Letterhead]

February 11, 2010

Via Electronic Filing
Securities and Exchange Commission
Division of Investment Management
Office of Insurance Products
100 F Street, NE
Washington, D.C. 20549

Re:   CUNA Mutual Variable Life Insurance Account, File No. 811-03915
    CUNA Mutual Variable Annuity Account, File No. 811-08260
    Rule 30b2-1 Filing

To Whom It May Concern:

As required by Rule 30e-2 under the Investment Company Act of 1940 (“Act”), as amended, each Registrant named above, each a unit investment trust registered as an investment company under the Act, mailed its contract owners the annual report for the management investment companies in which its subaccounts invest, which include the following:

T. Rowe Price International Series, Inc.
  T. Rowe Price International Stock Portfolio
MFS Variable Insurance TrustSM
  MFS Strategic Income SeriesSM
Oppenheimer Variable Accounts Funds
  Oppenheimer High Income Fund/VA
  Oppenheimer Main Street Small Cap Fund®/VA
  Oppenheimer Main Street Fund®/VA
Panorama Series Fund, Inc.
  Oppenheimer International Growth Fund®/VA
Franklin Templeton Variable Insurance Products Trust
  Templeton Developing Markets Securities Fund
  Mutual Discovery Securities Fund
  Franklin High Income Securities Fund
  Franklin Income Securities Fund
Ultra Series Fund
  Conservative Allocation Fund
  Moderate Allocation Fund
  Aggressive Allocation Fund
  Money Market Fund
  Bond Fund
  High Income Fund
  Diversified Income Fund
  Large Cap Value Fund


  Large Cap Growth Fund
  Mid Cap Value Fund
  Mid Cap Growth Fund
  Small Cap Value Fund
  Small Cap Growth Fund
  Global Securities Fund
  International Stock Fund
AIM Variable Insurance Funds
  AIM VI Global Real Estate Fund
PIMCO Variable Insurance Trust
  PIMCO CommodityRealReturnTM Strategy Portfolio
  PIMCO Total Return Portfolio
  PIMCO Global Bond Portfolio (Unhedged)
VanKampen Life Investment Trust
  VanKampen Life Investment Trust Mid Cap Growth Portfolio
  VanKampen Life Investment Trust Growth and Income Portfolio

We understand these management investment companies have separately filed these annual reports with the Securities and Exchange Commission on Form N-CSR.

We have included with this filing the cover, inside pages and back pages that we include with our mailing.

Please contact me at (608) 231-7495 if you have any questions regarding this filing.

  Regards,
   
  /s/ Kerry A. Jung
   
  Kerry A. Jung
  Lead Attorney

Attachments



 



ANNUAL REPORT
   
F o r   P e r i o d   E n d e d   D e c e m b e r    3 1 ,   2 0 0 9
   
   
  Conservative Allocation, Moderate Allocation, Aggressive Allocation, Money Market, Bond, High Income, Diversified Income, Large Cap Value, Large Cap Growth, Mid Cap Value, Mid Cap Growth, Small Cap Value, Small Cap Growth, Global Securities, International Stock, Target Retirement 2020, Target Retirement 2030, and Target Retirement 2040 Funds of the Ultra Series Fund
   
   
  MEMBERS® Variable Annuity
  MEMBERS® Variable Annuity II
  MEMBERS® Choice Variable Annuity
  MEMBERS® Variable Annuity III
  MEMBERS® Variable Universal Life
  MEMBERS® Variable Universal Life II
   
  Distributed by:
  CUNA Brokerage Services, Inc.
  Office of Supervisory Jurisdiction
  2000 Heritage Way
  Waverly, IA 50677
   
  Member FINRA & SIPC
   
  Telephone:
  (319) 352-4090
  (800) 798-5500
   
   
 
   
  This material is for reporting purposes only and shall not be used in connection with a solicitation, offer or any proposed sale or purchase of securities unless preceded or accompanied by a prospectus.
   

Move confidently into the futureTM


ANNUAL REPORT

To reduce service expenses, CUNA Mutual Insurance Society may send only one copy of this booklet per household, regardless of the number of policyowners at the household. However, any policyowner may obtain additional copies of this booklet upon request to CUNA Mutual Insurance Society.

If you have questions, please call CUNA Mutual Insurance Society at 1.800.798.5500.

As with all variable life insurance policies and mutual funds, the Securities and Exchange Commission (“Commission”) has not approved or disapproved of these securities, nor does the Commission guarantee the accuracy or adequacy of any prospectus. Any statement to the contrary is a criminal offense.



 
 
CUNA Mutual Insurance Society
2000 Heritage Way
Waverly, IA 50677
Presorted Standard
U.S. POSTAGE
PAID
Louisville, KY
Permit No. 1051





Form 1965 02/10


 



ANNUAL REPORTS
   
F o r   P e r i o d   E n d e d   D e c e m b e r    3 1 ,   2 0 0 9
   
   
  CUNA Mutual Variable Life Insurance Account
   
  Ultra Series Fund, a mutual fund in which the CUNA Mutual Variable Life Insurance Account invests.
   
  T. Rowe Price International Stock Portfolio of the T. Rowe Price International Series, Inc., a mutual fund in which the CUNA Mutual Variable Life Insurance Account invests.
   
 
Ultra Vers-ALL LIFESM
   
 
Distributed by:
  CUNA Brokerage Services, Inc.
  Office of Supervisory Jurisdiction
  2000 Heritage Way
  Waverly, IA 50677
   
  Member FINRA & SIPC
   
  Telephone:
  (319) 352-4090
  (800) 798-5500
   
   
 
   
 
This material is for reporting purposes only and shall not be used in connection with a solicitation, offer or any proposed sale or purchase of securities unless preceded or accompanied by a prospectus.
   

Move confidently into the futureTM


ANNUAL REPORT

To reduce service expenses, CUNA Mutual Insurance Society may send only one copy of this booklet per household, regardless of the number of policyowners at the household. However, any policyowner may obtain additional copies of this booklet upon request to CUNA Mutual Insurance Society.

If you have questions, please call CUNA Mutual Insurance Society at 1.800.798.5500.

As with all variable life insurance policies and mutual funds, the Securities and Exchange Commission (“Commission”) has not approved or disapproved of these securities, nor does the Commission guarantee the accuracy or adequacy of any prospectus. Any statement to the contrary is a criminal offense.



  The second part of this booklet is a report for the Ultra Series Fund,
a mutual fund in which the CUNA Mutual Variable Annuity Account and
CUNA Mutual Variable Life Insurance Account invests.		  
























Presorted Standard
U.S. POSTAGE
PAID
Louisville, KY
Permit No. 1051




 
 
CUNA Mutual Insurance Society
2000 Heritage Way
Waverly, IA 50677

Form 10000210 02/10


 



ANNUAL REPORTS
   
F o r   P e r i o d   E n d e d   D e c e m b e r    3 1 ,   2 0 0 9
   
   
  T. Rowe Price International Stock Portfolio of the T. Rowe Price International Series, Inc., a mutual fund in which the CUNA Mutual Variable Life Insurance Account and the CUNA Mutual Variable Annuity Account invest.
   
  MFS® Strategic Income SeriesSM of the MFS® Variable Insurance TrustSM, a mutual fund in which the CUNA Mutual Variable Life Insurance Account and the CUNA Mutual Variable Annuity Account invest.
   
  Oppenheimer High Income Fund/VA of the Oppenheimer Variable Account Funds, a mutual fund in which the CUNA Mutual Variable Life Insurance Account and the CUNA Mutual Variable Annuity Account invest.
   
  Templeton Developing Markets Securities Fund of the Franklin Templeton Variable Insurance Products Trust, a mutual fund in which the CUNA Mutual Variable Life Insurance Account and the CUNA Mutual Variable Annuity Account invest.
 
 
MEMBERS® Variable Annuity
  MEMBERS® Variable Universal Life
  MEMBERS® Variable Universal Life II
  Ultra Vers-ALL LIFESM
   
   
  Distributed by:
  CUNA Brokerage Services, Inc.
  Office of Supervisory Jurisdiction
  2000 Heritage Way
  Waverly, IA 50677
   
 
Member FINRA & SIPC
   
 
Telephone:
  (319) 352-4090
  (800) 798-5500
   
   
 
   
 
This material is for reporting purposes only and shall not be used in connection with a solicitation, offer or any proposed sale or purchase of securities unless preceded or accompanied by a prospectus.
   

Move confidently into the futureTM


ANNUAL REPORTS

MEMBERS®Variable Universal Life II and MEMBERS® Variable Annuity no longer accept new payments and do not allow transfers of money from other subaccounts to the subaccounts that invest in the mutual funds described in this booklet.

MEMBERS® Variable Universal Life does accept new premium for the T. Rowe Price International Stock subaccount and also allows transfers of money to the subaccount that invests in that fund.

If you own a MEMBERS® Variable Annuity, MEMBERS® Variable Universal Life or MEMBERS® Variable Universal Life II, you will also receive a booklet that contains the annual report for that product as well as an annual report for other mutual funds in which the CUNA Mutual Variable Annuity Account and CUNA Mutual Variable Life Insurance Account invest.

To reduce service expenses, CUNA Mutual Insurance Society may send only one copy of this booklet per household, regardless of the number of owners at the household. However, any owner may obtain additional copies of this booklet upon request to CUNA Mutual Insurance Society.

If you have questions, please call CUNA Mutual Insurance Society at 1.800.798.5500.

As with all variable annuity contracts, variable life insurance policies and mutual funds, the Securities and Exchange Commission (“Commission”) has not approved or disapproved of these securities, nor does the Commission guarantee the accuracy or adequacy of any prospectus. Any statement to the contrary is a criminal offense.



Presorted Standard
U.S. POSTAGE
PAID
Louisville, KY
Permit No. 1051




 
 
CUNA Mutual Insurance Society
2000 Heritage Way
Waverly, IA 50677

Form 1940 02/10