In over 400 credit unions, healthcare organizations, and education institutions Stearns Financial has diligently proven we have the expertise to design, implement, and administer every type of supplemental executive benefit plan.
Stearns Financial Group was founded in 1971 by Joe Stearns as a resource for personal financial planning, life insurance, and disability insurance for individuals and families in Northwest Ohio. Focus on service and a straightforward approach led growth to hundreds of clients from 1971 to the late 1970’s. In the early 1980’s Stearns Financial expended to business planning, succession, key person, and group qualified benefits including newly introduced 401(k) and IRA plans. In the early 1990’s, the primary company affiliation of Stearns Financial Group, Lutheran Mutual Life/Century Life of America merged into CUNA Mutual Life (CMG) and introduced Stearns Financial to the needs of non-profit credit union executives for supplemental benefits and retention incentives. As a subcontractor to CMG, Joe Stearns and Stearns Financial along with several co-subcontractor colleagues developed the first programmatic 457(f) plans and Split Dollar Plans with corresponding due diligence and founded CMG’s Executive Benefits Department. In the early 2000’s Stearns Financial and CMG co-affiliated subcontractor, OM Financial Group, led the expansion of of Split Dollar Plan Due Diligence as the tax code and NCUA oversight evolved. In the mid-2000’s Stearns Financial and OM Financial separated from CMG and continued in a marketing partnership, independently designing, implementing, and supporting SERPs at Credit Unions and other Not-for-profit organizations. In the early 2010’s Stearns Financial added healthcare and higher education clients as Eric Stearns joined the family business bringing, hospital revenue cycle, operational, and financial management expertise to the analyst role. Eric moved into a representative role in 2012 and succeeded as the Stearns Financial Group’s president & CEO in 2016. Stearns Financial Group has continued to serve hundreds of clients and add many more as we continue our founding principals focused on service and a straightforward approach. We believe our plans and the services that surround them can add value to your organization, create a win-win for your financials and your executives, and assist you in your focus on what is important in delivering your services to your community. We look forward to exploring the opportunities with you as a trusted partner and valued client.