Bond Fund

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Fund Objective:	The Bond Fund seeks to generate a high level of current income, consistent with the prudent limitation of investment risk.
Investment Strategies:	The fund invests at least 80% of its assets in bonds. To keep current income relatively stable and to limit share price volatility, the Bond Fund emphasizes investment grade securities and maintains an intermediate (typically 3-6 year) average portfolio duration. In addition to U.S. Government and Corporate debt securities the fund may also invest in asset-backed and mortgage-backed securities, as well as non-rated debt securities.

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Portfolio Management
Managers
Dean (Jack) J. Call, Jr., CFA Paul Lefurgey

Jack Call and Paul Lefurgey are the co-portfolio managers of the fund. They are supported by a team of sector specialists and analysts.

Key Highlights (as of Friday September 03, 2010)
	Class A	Class B	Class Y
Daily Price	10.42	10.42	10.41
Ticker Symbol	MBOAX	MBOBX
Inception Date	12/29/1997	12/29/1997	6/30/2006
Quarterly Performance Fund Fact Sheet (pdf) Prospectus and Financial Reports Links to other MEMBERS Funds information: Daily Price Summary Performance Summary Account Applications and Forms Tax Information Return to top of page to select another fund

Portfolio Highlights (as of June 30, 2010)
Top Ten Fund Holdings (as of June 30, 2010):
U.S. Treasury Notes (0.9,1/31/2011)	10.0%
U.S. Treasury Notes (4.0, 2/15/2014)	4.6%
U.S. Treasury Notes (4.3, 8/15/2014)	4.4%
U.S. Treasury Notes (2.3, 1/31/2015)	4.4%
U.S. Treasury Notes (3.1, 8/31/2013)	3.7%
U.S. Treasury Notes (2.8, 2/15/2019)	3.6%
U.S. Treasury Notes (4.3, 8/15/2015)	2.9%
U.S. Treasury Bonds (4.5, 5/15/2038)	2.9%
U.S. Treasury Notes (3.4, 11/15/2019)	2.5%
U.S. Treasury Notes (1.8, 11/15/2011)	2.4%

Average Duration	3.94 yrs
Average Maturity	5.29 yrs
Yield to Maturity	2.1%

% of Fund in Top Ten Securities	41.4%
Turnover	6.50%
Net Assets	$212.0 million

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*MEMBERS® Mutual Funds are distributed by Mosaic Funds Distributor, LLC.

For more complete information about MEMBERS® Mutual Funds, including charges and expenses, obtain a prospectus from your representative, by calling 1-800-877-6089 or by clicking on the prospectus section to view or download a prospectus. Read it carefully before you invest or send money. Consider the investment objectives, risks and charges and expenses of the investment carefully before investing. The prospectus contains this and other information about the investment company.

MEMBERS® Mutual Funds are not deposits in, or obligations of, and are not guaranteed by, any financial institution and are not federally insured.

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