The President’s Message

The United States experienced great economic growth this past year, starting with tax changes that enhanced consumer income, job growth, and the lowest unemployment in 50 years.

ELCO Mutual benefitted from this growth, too. Our admitted assets increased over 15% to $878 million. In addition, our surplus increased by 17% and is now over $68 million.

With growth comes change. As our assets continued building, we decided to enter into an agreement with J.P. Morgan Asset Management, Inc. (JPMAM). JPMAM manages over $3 trillion across the country and has a staff dedicated to ELCO Mutual. This partnership will allow ELCO Mutual’s growth to continue, greatly improve the quality of investments, and provide valuable data necessary to make sound investment decisions.

In the early 1980s, we decided to dedicate our products and marketing to the senior market. We have been successful for a variety of reasons. First, our products are easy to understand, unlike many available today. Another contributing factor is our excellent customer service. When you call ELCO Mutual, you will always speak with a real, live person.

More than anything, our 72 years of success stems from our dedication to our policyholders. Our business continuously instills the values that were established in 1946: well-defined plans, proficient personnel, and a progressive sales force.

We are confident in our sustainable growth and look forward to the new opportunities that await in 2019.

David Bruce
President, CEO

2018 Annual Report

Learn more about our ongoing business success and see what our dedicated employees have to say about our company.

View Our Annual Report

ELCO Mutual and its representatives are not legal or certified tax professionals. For tax and/or legal advice, please contact a licensed professional. ELCO Mutual contracts with independent licensed insurance producers and does not guarantee nor certify them as financial planners. Continue Reading Not insured by the FDIC or associated with any government program or agency. Annuities are not associated with a bank. Withdrawals taken from annuities before the age of 59 1/2 are subject to the IRS's 10% excise tax. Individual Retirement Accounts (IRAs) cannot be opened past age 70 ½. Dividends are declared by the company's board of directors and are not guaranteed. When purchasing a single premium whole life policy, please note that the policy is a Modified Endowment Contract (MEC). Any distributions taken by the owner may be taxable (including from the accelerated death benefit rider). Death benefits for life insurance contracts are contingent on any due premiums being paid. The information on this website is intended for informational and educational purposes only and is not intended to provide investment advice or a recommendation. Clients seeking advice should consult a licensed professional. All life insurance policies and annuities are underwritten and issued by ELCO Mutual Life and Annuity. Also known as ELCO Mutual Life and Annuity Company in Florida. View Less