MEMBERS ADVISORY GROUP, LLC

Item 1: Cover Page Members Advisory Group, LLC Form ADV Part 2A Investment Adviser Brochure 6750 Main Street Williamsville, NY 14221 Phone: (716) 632-4066 Fax: (716) 632-1119 www.membersadvgrp.com March 2025 This Brochure provides information about the qualifications and business practices of Members Advisory Group, LLC (“we”, “us”, “our”). If you have any questions about the contents of this Brochure, please contact Cheryl L. Fluker, Chief Compliance Officer, at (716) 632-4066 or cfluker@membersadvgrp.com. Additional information about our Firm is also available on the SEC’s website at www.adviserinfo.sec.gov. The information in this Brochure has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority. We are a registered investment adviser. Please note that use of the term “registered investment advisor” and a description of the Firm and/or our employees as “registered” does not imply a certain level of skill or training. For more information on the qualifications of the Firm and our employees who advise you, we encourage you to review this Brochure and the Brochure Supplement(s).  Item 2: Summary of Material Changes Annual Update In this Item of Members Advisory Group’s (or the “Firm,” “we,” “us,” “ours”) Form ADV 2, the Firm is required to discuss any material changes that have been made to Form ADV since the last Annual Amendment. Material Changes since the Last Update Since the last Annual Amendment filing on March 11, 2024, the Firm has the following material change to report: • Since our last Annual Amendment filing, there has been a change in ownership; Scott M. Cashmore, Managing Partner, is the owner of Members Advisory Group. Annual Update You will receive a summary of any material changes to our Form ADV brochure within 120 days of our fiscal year end. We may also provide updated disclosure information about material changes on a more frequent basis. Any summaries of changes will include the date of the last annual update of the ADV. The Supplement to our Form ADV Brochure (Form ADV Part 2B) provides you with information regarding our employees that provide investment advice. Full Brochure Available Our Form ADV may be requested at any time, without charge by contacting Cheryl L. Fluker, Chief Compliance Officer, at (716) 632-4066 or cfluker@membersadvgrp.com. Additional information about the Firm is also available via the SEC’s website at www.adviserinfo.sec.gov. The SEC’s website also provides information about any employees affiliated with the Firm who are registered as investment adviser representatives. 2  Item 3: Table of Contents Item 1: Cover Page .......................................................................................................................... 1 Item 2: Summary of Material Changes ........................................................................................... 2 Item 4: Advisory Business ............................................................................................................... 4 Item 5: Fees and Compensation ..................................................................................................... 7 Item 6: Performance-Based Fees and Side-By-Side Management ............................................... 11 Item 7: Types of Clients ................................................................................................................. 12 Item 8: Methods of Analysis, Investment Strategies and Risk of Loss ......................................... 13 Item 9: Disciplinary Information ................................................................................................... 16 Item 10: Other Financial Industry Activities and Affiliations ........................................................ 17 Item 11: Code of Ethics, Participation or Interest in Client Transactions and Personal Trading . 18 Item 12: Brokerage Practices ........................................................................................................ 19 Item 13: Review of Accounts ........................................................................................................ 21 Item 14: Client Referrals and Other Compensation ..................................................................... 22 Item 15: Custody ........................................................................................................................... 23 Item 16: Investment Discretion .................................................................................................... 25 Item 17: Voting Client Securities .................................................................................................. 26 Item 18: Financial Information ..................................................................................................... 27 Form ADV Part 2B – Investment Adviser Brochure Supplement .................................................. 28 3  Item 4: Advisory Business Description of Firm and Types of Advisory Services Members Advisory Group, LLC (or the “Firm,” “we,” “us,” “ours”) is a registered investment advisor based in Williamsville, NY. We are organized as a Limited Liability Company (LLC) under the laws of the State of New York. We have been providing investment advisory services since 2012. We are owned by Scott M. Cashmore. Wealth Management Services We offer wealth management services, which consist of ongoing financial planning services and discretionary investment management. Our investment advice is tailored to meet our clients' needs and investment objectives. We will meet with you to determine your investment objectives, risk tolerance, and other relevant information (the "investment parameters") at the beginning of our advisory relationship. We will use the investment parameters we gather to develop a strategy that enables our Firm to give you investment recommendations consistent with your financial goals. We primarily offer advice on equity securities, corporate, municipal and government debt securities, mutual funds, and exchange traded funds. Additionally, we may advise you on any type of investment that we deem appropriate based on your stated goals and objectives. We may also provide advice on any type of investment held in your portfolio at the inception of our advisory relationship. We provide portfolio management services where the investment advice provided is custom tailored to meet your investment needs and objectives. We manage accounts on a discretionary basis. If you participate in our discretionary portfolio management services, we require you to grant our Firm discretionary authority to manage your account. Discretionary authorization will allow us to determine the specific securities and the amount of securities to be purchased or sold for your account without your approval prior to each transaction. Discretionary authority is typically granted by the investment advisory agreement you sign with our Firm and the appropriate trading authorization forms. You may limit our discretionary authority by providing our Firm with your restrictions and guidelines in writing. We may also offer non-discretionary portfolio management services. If you enter into non- discretionary arrangements with our Firm, we must obtain your approval prior to executing any transactions on behalf of your account. You have an unrestricted right to decline to implement any advice provided by our Firm on a non-discretionary basis. Tailored Relationships We tailor investment advisory services to the individual needs of the client. Our clients are allowed to impose restrictions on the investments in their account. All limitations and restrictions placed on accounts must be presented to us in writing. Clients will retain individual 4  ownership of all securities. Fiduciary Statement We are fiduciaries under the Investment Advisers Act of 1940 and when we provide investment advice to you regarding your retirement plan account or individual retirement account, we are also fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act, (“ERISA”) and/or the Internal Revenue Code, (“IRC”), as applicable, which are laws governing retirement accounts. We have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. We must take into consideration each client’s objectives and act in the best interests of the client. We are prohibited from engaging in any activity that is in conflict with the interests of the client. We have the following responsibilities when working with a client: • To render impartial advice; • To make appropriate recommendations based on the client’s needs, financial circumstances, and investment objectives; • To exercise a high degree of care and diligence to ensure that information is presented in an accurate manner and not in a way to mislead; • To have a reasonable basis, information, and understanding of the facts in order to provide appropriate recommendations and representations; • Disclose any material conflict of interest in writing; and • Treat clients fairly and equitably. Regulations prohibit us from: • Employing any device, scheme, or artifice to defraud a client; • Making any untrue statement of a material fact to a client or omitting to state a material fact when communicating with a client; • Engaging in any act, practice, or course of business which operates or would operate as fraud or deceit upon a client; or • Engaging in any manipulative act or practice with a client. We will act with competence, dignity, integrity, and in an ethical manner, when working with clients. We will use reasonable care and exercise independent professional judgement when conducting investment analysis, making investment recommendations, trading, promoting our services, and engaging in other professional activities. Wrap Fee Programs A “wrap-fee” program is one that provides the client with advisory and brokerage execution services for an all-inclusive fee. The client is not charged separate fees for the respective components of the total service. We no longer sponsor, manage nor participate in a Wrap Fee 5  Program. Assets Under Management As of January 31, 2025, we managed $404,998,886 in client assets; $402,637,159 was managed on a discretionary basis and $2,361,727 was managed on a non-discretionary basis. 6  Item 5: Fees and Compensation Compensation - Wealth Management Services Our fee for portfolio management services is based on a percentage of your assets we manage and is set forth in the following fee schedule: Assets Under Management Annual Fee $0 to $999,999 $1,000,000+ 0.75% 0.65% Our annual fee for the wealth management services is billed quarterly in advance based on the market value of your managed assets on the last day of the preceding quarter. Our fees will be assessed pro rata in the event the portfolio management agreement is executed at any time other than the first day of a billing period. At our sole discretion, the fee may be negotiable. At our discretion, we may combine the account values of family members living in the same household to determine the applicable advisory fee. For example, we may combine account values for you and your minor children, joint accounts with your spouse, and other types of related accounts. Combining account values may increase the asset total, which may result in paying a reduced advisory fee based on the available breakpoints in our fee schedule stated above. We will deduct our fee directly from your account through the qualified custodian holding your funds and securities. We will deduct our advisory fee only when you have given our Firm written authorization permitting the fees to be paid directly from your account. You may terminate the wealth management agreement upon written notice to our Firm. You will incur a pro rata charge for services rendered prior to the termination of the portfolio management agreement, which means you will incur advisory fees only in proportion to the number of days in the quarter for which you are a client. If you have pre-paid advisory fees that we have not yet earned, you will receive a prorated refund of those fees. Compensation - Insurance Persons providing investment advice on behalf of our Firm are licensed as independent insurance agents. You may work with your Investment Advisor Representative in their separate capacity as an insurance agent. When acting in their separate capacity as an insurance agent, the Investment Advisor Representative may sell, for commissions, life insurance, annuities, and other insurance products to you. As such, your Investment Advisor Representative, in their separate capacity as an insurance agent, may suggest that you implement recommendations by purchasing life insurance, annuities, or our other insurance products. This receipt of commissions creates an incentive for the representative to recommend those products for which your Investment Advisor Representative will receive a commission in their separate capacity as an insurance agent. Consequently, the advice rendered to you could be biased. You 7  are under no obligation to implement any insurance or annuity transaction through your Investment Advisor Representative. Cash Balances Some of your assets may be held as cash and remain uninvested. Holding a portion of your assets in cash and cash alternatives, i.e., money market fund shares, may be based on your desire to have an allocation to cash as an asset class, to support a phased market entrance strategy, to facilitate transaction execution, to have available funds for withdrawal needs or to pay fees or to provide for asset protection during periods of volatile market conditions. Your cash and cash equivalents will be subject to our investment advisory fees unless otherwise agreed upon. You may experience negative performance on the cash portion of your portfolio if the investment advisory fees charged are higher than the returns you receive from your cash. Retirement Plan Rollover Recommendations As part of our investment advisory services to our clients, we may recommend that clients roll assets from their employer’s retirement plan, such as a 401(k), 457, or ERISA 403(b) account (collectively, a “Plan Account”), to an individual retirement account, such as a SIMPLE IRA, SEP IRA, Traditional IRA, or Roth IRA (collectively, an “IRA Account”) that we will advise on the client’s behalf. We may also recommend rollovers from IRA Accounts to Plan Accounts, from Plan Accounts to Plan Accounts, and from IRA Accounts to IRA Accounts. If the client elects to roll the assets to an IRA that is subject to our advisement, we will charge the client an asset-based fee as set forth in the advisory agreement the client executed with our firm. This creates a conflict of interest because it creates a financial incentive for our firm to recommend the rollover to the client (i.e., receipt of additional fee-based compensation). Clients are under no obligation, contractually or otherwise, to complete the rollover. Moreover, if clients do complete the rollover, clients are under no obligation to have the assets in an IRA advised on by our firm. Due to the foregoing conflict of interest, when we make rollover recommendations, we operate under a special rule that requires us to act in our clients’ best interests and not put our interests ahead of our clients’. Under this special rule’s provisions, we must: • meet a professional standard of care when making investment recommendations (give prudent advice); • never put our financial interests ahead of our clients’ when making recommendations (give loyal advice); • avoid misleading statements about conflicts of interest, fees, and investments; • follow policies and procedures designed to ensure that we give advice that is in our clients’ best interests; • charge no more than a reasonable fee for our services; and • give clients basic information about conflicts of interest. 8  Many employers permit former employees to keep their retirement assets in their company plan. Also, current employees can sometimes move assets out of their company plan before they retire or change jobs. In determining whether to complete the rollover to an IRA, and to the extent the following options are available, clients should consider the costs and benefits of a rollover. Note that an employee will typically have four options in this situation: 1. leaving the funds in the employer’s (former employer’s) plan; 2. moving the funds to a new employer’s retirement plan; 3. cashing out and taking a taxable distribution from the plan; or 4. rolling the funds into an IRA rollover account. General Information on Compensation and Other Fees In certain circumstances, fees, account minimums and payment terms are negotiable depending on client’s unique situation – such as the size of the aggregate related party portfolio size, family holdings, low-cost basis securities, or certain passively advised investments and pre-existing relationships with clients. Certain clients may pay more or less than others depending on the amount of assets, type of portfolio, or the time involved, the degree of responsibility assumed, complexity of the engagement, special skills needed to solve problems, the application of experience and knowledge of the client’s situation. Our fees are exclusive of brokerage commissions, transaction fees, and other related costs and expenses which shall be incurred by the client. Clients may incur certain charges imposed by custodians, brokers, third party investment and other third parties such as fees charged by managers, custodial fees, deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts and securities transactions. Mutual funds and exchange traded funds also charge internal management fees, which are disclosed in a fund’s prospectus. Such charges, fees and commissions are exclusive of and in addition to our fee, and we shall not receive any portion of these commissions, fees, and costs. All fees paid to us for investment advisory services are separate and distinct from the fees and expenses charged by mutual funds and variable annuity sub-accounts to their shareholders. These fees and expenses are described in each fund’s or sub account’s prospectus. These fees will generally include a management fee, other expenses, and a possible distribution fee. If the fund also imposes sales charges, a client may pay an initial or deferred sales charge. A client could invest in a mutual fund or sub-account directly, without the services of the Firm. In that case, the client would not receive the services provided by us which are designed, among other things, to assist the client in determining which mutual funds or sub-accounts are most appropriate to each client’s financial condition and objectives. Accordingly, the client should review both the fees charged by the funds/sub-accounts and the fees charged by us to fully understand the total amount of fees to be paid by the client and to thereby evaluate the advisory services being provided. 9  Clients should note that similar advisory services may (or may not) be available from other registered investment advisers for similar or lower fees. 10  Item 6: Performance-Based Fees and Side-By-Side Management We do not accept performance-based fees or participate in side-by-side management. Performance-based fees are fees that are based on a share of a capital gains or capital appreciation of a client's account. Side-by-side management refers to the practice of managing accounts that are charged performance-based fees while at the same time managing accounts that are not charged performance-based fees. Our fees are not charged on the basis of a share of capital gains upon, or capital appreciation of, the funds in your advisory account. 11  Item 7: Types of Clients Types of Clients We offer investment advisory services to individuals and high net worth individuals. Account Minimums In general, we do not require a minimum dollar amount to open and maintain an advisory account; however, we have the right to terminate your account if it falls below a minimum size which, in our sole opinion, is too small to manage effectively. We may also combine account values for you and your minor children, joint accounts with your spouse, and other types of related accounts to meet the stated minimum. 12  Item 8: Methods of Analysis, Investment Strategies and Risk of Loss Methods of Analysis We primarily use Fundamental analysis when formulating investment advice. Fundamental analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial, and other qualitative and quantitative factors. Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The end goal of performing fundamental analysis is to produce a value that an investor can compare with the security's current price in hopes of figuring out what sort of position to take with that security (underpriced = buy, overpriced = sell or short). This method of security analysis is considered to be the opposite of technical analysis. Fundamental analysis is about using real data to evaluate a security's value. Although most analysts use fundamental analysis to value stocks, this method of valuation can be used for just about any type of security. The risk associated with fundamental analysis is that it is somewhat subjective. While a quantitative approach is possible, fundamental analysis usually entails a qualitative assessment of how market forces interact with one another in their impact on the investment in question. It is possible for those market forces to point in different directions, thus necessitating an interpretation of which forces will be dominant. This interpretation may be wrong and could therefore lead to an unfavorable investment decision. Investment Strategies We use the following investment strategies: • Long term purchases - Investments held at least a year; and • Short term purchases - Investments sold within a year. Risk of Loss Investing in securities involves risk of loss that clients should be prepared to bear. All investments involve the risk of loss, including (among other things) loss of principal, a reduction in earnings (including interest, dividends and other distributions), and the loss of future earnings. Although we manage assets in a manner consistent with your investment objectives and risk tolerance, there can be no guarantee that our efforts will be successful. You should be prepared to bear the following risk of loss: • Market Risk: Either the stock market as a whole, or the value of an individual company, goes down resulting in a decrease in the value of client investments. This is also referred to as systemic risk. • Equity (stock) Market Risk: Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and 13  perceptions of their issuers change. If you held common stock, or common stock equivalents, of any given issuer, you would generally be exposed to greater risk than if you held preferred stocks and debt obligations of the issuer. • Company Risk: When investing in stock positions, there is always a certain level of company or industry specific risk that is inherent in each investment. This is also referred to as unsystematic risk and can be reduced through appropriate diversification. There is the risk that the company will perform poorly or have its value reduced based on factors specific to the company or its industry. For example, if a company’s employees go on strike or the company receives unfavorable media attention for its actions, the value of the company may be reduced. • Fixed Income Risk: When investing in bonds, there is the risk that issuer will default on the bond and be unable to make payments. Further, individuals who depend on set amounts of periodically paid income face the risk that inflation will erode their spending power. Fixed-income investors receive set, regular payments that face the same inflation risk. • Options Risk: Options on securities may be subject to greater fluctuations in value than an investment in the underlying securities. Purchasing and writing put, and call options are highly specialized activities and entail greater than ordinary investment risks. • ETF and Mutual Fund Risk: When our Firm invests in an ETF or mutual fund, it will bear additional expenses based on its pro rata share of the ETFs or mutual fund’s operating expenses, including the potential duplication of management fees. The risk of owning an ETF or mutual fund generally reflects the risks of owning the underlying securities the ETF or mutual fund holds. Clients will also incur brokerage costs when purchasing ETFs. • Management Risk: Your investment with our Firm varies with the success and failure of our investment strategies, research, analysis, and determination of portfolio securities. If our investment strategies do not produce the expected returns, the value of the investment will decrease. • Pandemic Risk: Large-scale outbreaks of infectious disease can greatly increase morbidity and mortality over a wide geographic area, crossing international boundaries, and causing significant economic, social, and political disruption. • Cybersecurity Risk: A breach in cyber security refers to both intentional and unintentional events that may cause an account to lose proprietary information, suffer data corruption, or lose operational capacity. This in turn could cause an account to incur regulatory penalties, reputational damage, and additional compliance costs associated with corrective measures, and/or financial loss. • Custodial Risk: This risk is the probability that a party to a transaction will be unable or unwilling to fulfill its contractual obligations either due to technological errors, control failures, malfeasance, or potential regulatory liabilities. Material risks associated with the methods of analysis and investment strategies used include actual company specific or market events that may contradict assumptions at the time a security was chosen, and/or a security’s actual performance that may not follow trends previously identified in the analysis conducted. 14  It is not possible to list all risks associated with each class of securities or assets or each market sector. Clients should consult us for more information about specific risks that may be associated with our advisor’s investment strategies. 15  Item 9: Disciplinary Information We are required to disclose all pertinent facts regarding any legal, regulatory or disciplinary events that would be material to your evaluation of the Firm or the integrity of our management. We and our management personnel have no disciplinary events to disclose. 16  Item 10: Other Financial Industry Activities and Affiliations We are required to disclose to our clients any relationship or arrangement with certain related persons that is material to our advisory business. Financial Industry Activities We are not registered as a broker-dealer, and none of our management persons are registered representatives of a broker-dealer. Neither we, nor any of our management persons, is registered as (or associated with) a futures commissions merchant, commodity pool operator, or a commodity trading advisor. Neither we nor any of our management persons, have a material relationship or arrangement with any related person or financial industry entities. Insurance Agents Certain of our Investment Adviser Representatives may be licensed insurance agents or brokers and may be appointed with several insurance companies. They may earn separate compensation for transactions implemented through various insurance companies. Clients are not obligated to use any company for insurance product purchases and may work with any insurance agent they choose. Insurance compensation will be separate and distinct from our investment advisory fees. Other Investment Advisors We do not recommend or select other investment advisors for our clients. 17  Item 11: Code of Ethics, Participation or Interest in Client Transactions and Personal Trading Code of Ethics Our employees must comply with a Code of Ethics and Statement for Insider Trading (the Code). The Code describes our high standard of business conduct, and fiduciary duty to its clients. The Code’s key provisions include: • Statement of General Principles • Policy on and reporting of Personal Securities Transactions • A prohibition on Insider Trading • Restrictions on the acceptance of significant gifts • Procedures to detect and deter misconduct and violations • Requirement to maintain confidentiality of client information Our employees must acknowledge the terms of the Code at least annually, and any individual not in compliance with the Code may be subject to termination. We will provide a copy of our Code upon request. Participation or Interest in Client Transactions Neither our Firm nor any of our employees have any material financial interest in client transactions beyond the provision of investment advisory services as disclosed in this brochure. Personal Trading Our Firm and/or our employees with our Firm may buy or sell the same securities that we recommend to you or securities in which you are already invested. A conflict of interest exists in such cases because we have the ability to trade ahead of you and potentially receive more favorable prices than you will receive. To eliminate this conflict of interest, it is our policy that neither our Firm nor persons associated with our Firm shall have priority over your account in the purchase or sale of securities. 18  Item 12: Brokerage Practices Research and Other Soft Dollar Benefits We do not have any soft dollar arrangements. Brokerage for Client Referrals We do not receive client referrals from broker-dealers in exchange for cash or other compensation, such as brokerage services or research. Brokerage Recommendations We typically recommend the brokerage and custodial services of Charles Schwab & Co., Inc. (Schwab), registered broker/dealer, member FINRA/SIPC. Our recommendation takes into account a number of factors, some of which may include custodial fees charged by the broker/dealer for holding your securities, commission rates, quality of execution, and record keeping and reporting capabilities. When recommending a broker/dealer, we will attempt to minimize the total cost for all brokerage services paid by you. It may be the case that Schwab charges a higher fee for a particular type of service, such as commission rates, than can be obtained from another broker. You may utilize the broker-dealer of your choice and you have no obligation to purchase or sell securities through such broker as we recommend. Directed Brokerage We routinely recommend that you direct our Firm to execute transactions through Schwab. As such, we may be unable to achieve the most favorable execution of your transactions and you may pay higher brokerage commissions than you might otherwise pay through another broker- dealer that offers the same types of services. Not all advisors require their clients to direct brokerage. In limited circumstances, and at our discretion, you may instruct our Firm to use one or more particular brokers for the transactions in your account. If you choose to direct our Firm to use a particular broker, you should understand that this might prevent our Firm from aggregating trades with other client accounts or from effectively negotiating brokerage commissions on your behalf. This practice may also prevent our Firm from obtaining favorable net price and execution. Thus, when directing brokerage business, you should consider whether the commission expenses, execution, clearance, and settlement capabilities that you will obtain through your broker are adequately favorable in comparison to those that we would otherwise obtain for you. Other Economic Benefits We use Charles Schwab & Co.'s, Schwab Advisor Services (“Schwab”). While there is no relationship between the investment advice we provide and our use of Schwab, we receive certain economic benefits which would not be received if we did not use Schwab. For example, Schwab makes available to us products and services that benefit us but may not 19  directly benefit our clients’ accounts. Some of these other products and services assist us in managing and administering clients’ accounts. These include: receipt of duplicate client confirmations and bundled duplicate statements; access to a trading desk serving Schwab participants exclusively; access to block trading which provides the ability to aggregate securities transactions and then allocate the appropriate shares to client accounts; ability to have investment advisory fees deducted directly from client accounts; access to an electronic communication network for client order entry and account information; receipt of compliance publications; and access to mutual funds which generally require significantly higher minimum initial investments or are generally available only to institutional investors. Schwab also makes available to us other services intended to help us manage and further develop our business enterprise. These services may include consulting, publications and conferences on practice management, information technology, regulatory compliance, and marketing. In addition, Schwab may make available, arrange, and/or pay for these types of services rendered to us by independent third parties. While as a fiduciary we are required to act in our clients’ best interests, our recommendation that clients maintain their assets in accounts with Schwab may be based in part on the benefit to us of the availability of some of the foregoing products and services and not solely on the nature, cost or quality of custody and brokerage provided by Schwab. This may create a conflict of interest. Block Trades Transactions for each client generally will be effected independently unless we decide to purchase or sell the same securities for several clients at approximately the same time. We may, but are not obligated to, combine multiple orders for shares of the same securities purchased for advisory accounts we manage (this practice is commonly referred to as “block trading”). We will then distribute a portion of the shares to participating accounts in a fair and equitable manner. The distribution of the shares purchased is typically proportionate to the size of the account, but it is not based on account performance or the amount or structure of management fees. Subject to our discretion regarding factual and market conditions, when we combine orders, each participating account pays an average price per share for all transactions and pays a proportionate share of all transaction costs on any given day. 20  Item 13: Review of Accounts Reviews We monitor client portfolios as part of an ongoing process, and regular account reviews are generally conducted on an annual basis. Reviews could also occur at the time of new deposits, material changes in the client’s financial information, changes in economic cycles, at our discretion or as often as the client directs. Reviews entail analyzing securities, sensitivity to overall markets, economic changes, investment results, asset allocation, etc., to ensure the investment strategy and expectations are structured to continue to meet the client’s objectives. These reviews are conducted by one of our Investment Advisor Representatives. Clients are encouraged to discuss their needs, goals, and objectives with us and to inform us of any changes. Reporting At least quarterly, the custodian provides clients with an account statement for each client account, which may include individual holdings, cost basis information, deposits and withdrawals, accrued income, dividends, and performance. We may also provide clients with periodic reports regarding their holdings, allocations, and performance. 21  Item 14: Client Referrals and Other Compensation Compensation – Other Economic Benefits We receive an economic benefit from Schwab in the form of the support products and services it makes available to us and other independent investment advisors whose clients maintain their accounts at Schwab. These products and services, how they benefit us, and the related conflicts of interest are described above. The availability to us of Schwab's products and services is not based on us giving particular investment advice, such as buying particular securities for our clients. Compensation – Client Referrals We have been fortunate to receive many client referrals over the years. The referrals came from current clients, estate planning attorneys, accountants, employees, personal friends of employees, and other similar sources. We do not compensate referring parties for these referrals. 22  Item 15: Custody Custody – Fee Debiting The client agreement authorizes us to deduct advisory fees directly from the client’s account at the custodian. We send the amount of the quarterly fee to the custodian. With the exception of the ability to debit client accounts for advisory fees, we do not and will not have custody of clients’ funds or securities. Client assets shall be held in the custody of a bank, trust company or brokerage firm agreed upon by the client and us. The custodian is advised in writing of the limitation of our access to the account. The custodian sends a statement to the client, at least quarterly, indicating all amounts disbursed from the account including the amount of advisory fees paid directly to us. Custody – Account Statements As described above, clients receive at least quarterly statements from the broker dealer, bank or other qualified custodian that holds and maintains client’s investment assets. Clients are urged to carefully review such statements and compare such official custodial records to the reports that we provide. Our reports may vary from custodial statements based on accounting procedures, reporting dates, or valuation methodologies of certain securities. Custody – First Party Money Transfers Clients may provide us with written ongoing authorization to wire money between the client’s accounts held with the custodian directly to an outside financial institution (i.e., a client’s bank account). A copy of this authorization is provided to the custodian. The authorization includes the client’s account number(s) at the outside financial institution(s) as required. Custody – Third Party Money Transfers Clients may provide us with a standing letter of authorization (or similar asset transfer authorization) which allows us to disburse funds on behalf of clients to third parties. We ensure the following conditions are in place when deemed to have custody via third party money movement: • The client provides a Written Authorization to the custodian that includes all appropriate information as to how the transfer should be directed; • The Written Authorization includes instruction to direct transfers to the third party either on a specified schedule or from time to time; • Appropriate verification is performed by the custodian, along with a transfer of funds notice to the client promptly after each transfer; • The client may terminate or change the instruction to the custodian; • We have no authority or ability to designate or change any information about the third party contained in the instruction; • We maintain records showing that the third party is not a related party of the Firm or located at the same address as our Firm, LLC; and 23  • The custodian sends the client a written initial notice confirming the instruction and an annual written confirmation thereafter. 24  Item 16: Investment Discretion We may accept limited power of attorney to act on a discretionary basis on behalf of clients. A limited power of attorney allows us to execute trades on behalf of clients. When such limited powers exist between the Firm and the client, we have the authority to determine, without obtaining specific client consent, both the amount and type of securities to be bought to satisfy client account objectives. If we have not been given discretionary authority, we consult with the client prior to each trade. 25  Item 17: Voting Client Securities Proxy Voting We do not have any authority to and do not vote proxies on behalf of clients, nor do we make any express or implied recommendation with respect to voting proxies. Clients retain the sole responsibility for receiving and voting proxies that they receive directly from either their custodian or transfer agents. Clients may contact us for information about proxy voting. 26  Item 18: Financial Information We have no financial commitment that impairs our ability to meet contractual and fiduciary commitments to clients and have not been the subject of a bankruptcy proceeding. We do not require prepayment of fees of both a) more than $1,200 per client, and b) more than six months in advance; and therefore, we are not required to provide a balance sheet to clients. 27  Form ADV Part 2B – Investment Adviser Brochure Supplement Members Advisory Group, LLC Form ADV Part 2B Investment Adviser Brochure Supplement 6750 Main Street Williamsville, NY 14221 Phone: (716) 632-4066 Fax: (716) 632-1119 www.membersadvgrp.com Scott M. Cashmore March 2025 This Brochure Supplement provides information about the Firm’s (“we”, “us”, “our”) employees that supplements our Brochure. You should have received a copy of that Brochure. Please contact Cheryl L. Fluker, Chief Compliance Officer, at (716) 632-4066 or cfluker@membersadvgrp.com. if you did not receive our Brochure or if you have any questions about the contents of this Supplement. Additional information about our employee(s) referenced above is also available on the SEC’s website at www.adviserinfo.sec.gov. You may search this site using a unique identifying number, known as a CRD number for each employee. 28  Item 2: Educational Background and Business Experience We generally require that employees involved in making investment decisions and providing investment advice have a college degree and/or significant experience in the investment management or financial services industries. Born 1982 Scott M. Cashmore CRD #: 5013398 Business Background: Members Advisory Group, LLC Managing Partner 2024 to Present Managing Partner and Investment Advisor Representative Registered Sales Assistant 2012 to 2024 2010 to 2012 Cashmore Advisory Group, LLC Registered Sales Assistant Administrative Associate 2010 to 2012 2008 to 2010 Membersfirst Advantage, LLC Administrative Associate 2004 to 2010 LPL Financial Corporation Registered Sales Assistant Administrative Associate 2010 to 2012 2005 to 2010 2005 Formal Education after High School: University at Buffalo Bachelor of Science in Business Administration (Marketing) Item 3: Disciplinary Information Scott M. Cashmore has not been involved in any activities resulting in a disciplinary disclosure. Item 4: Other Business Activities Disclosure on Outside Business Activities is provided in Form ADV Part 2A Item 10 – Other Financial Industry Activities and Affiliations above. 29  Scott M. Cashmore is a licensed insurance agent through numerous insurance companies. In such a capacity, he may offer insurance products and receive normal and customary commissions as a result of such a purchase. This presents a conflict of interest to the extent that he recommends the purchase of an insurance product which results in a commission being paid to him as an insurance agent. Item 5: Additional Compensation Scott M. Cashmore does not receive any economic benefit outside of regular salaries and bonuses. Item 6: Supervision Cheryl L. Fluker, Chief Compliance Officer, supervises the person named in this Form ADV Part 2B Investment Adviser Brochure Supplement. Cheryl L. Fluker supervises this person by holding regular staff, investment, and other ad hoc meetings. In addition, Cheryl L. Fluker regularly reviews client reports, emails, and trading, as well as employees’ personal securities transaction and holdings reports. Cheryl L. Fluker may be reached at (716) 632-4066 or cfluker@membersadvgrp.com. 30  Form ADV Part 2B – Investment Adviser Brochure Supplement Members Advisory Group, LLC Form ADV Part 2B Investment Adviser Brochure Supplement 6750 Main Street Williamsville, NY 14221 Phone: (716) 632-4066 Fax: (716) 632-1119 www.membersadvgrp.com Jeffrey A. Cashmore March 2025 This Brochure Supplement provides information about the Firm’s (“we”, “us”, “our”) employees that supplements our Brochure. You should have received a copy of that Brochure. Please contact Cheryl L. Fluker, Chief Compliance Officer, at (716) 632-4066 or cfluker@membersadvgrp.com. if you did not receive our Brochure or if you have any questions about the contents of this Supplement. Additional information about our employee(s) referenced above is also available on the SEC’s website at www.adviserinfo.sec.gov. You may search this site using a unique identifying number, known as a CRD number for each employee. 31  Item 2: Educational Background and Business Experience We generally require that employees involved in making investment decisions and providing investment advice have a college degree and/or significant experience in the investment management or financial services industries. Born 1960 Jeffrey A. Cashmore CRD #: 1928725 Business Background: Members Advisory Group, LLC Investment Advisor Representative 2024 to Present Managing Partner and Investment Advisor Representative 2022 to 2024 Managing Partner, Chief Compliance Officer and Investment Advisor Representative 2010 to 2022 Cashmore Advisory Group, LLC Managing Member, Chief Compliance Officer and Investment Advisor Representative 2008 to 2012 Membersfirst Advantage, LLC Managing Director 1997 to 2010 LPL Financial Corporation Registered Representative Investment Advisor Representative 1994 to 2012 1986 Formal Education after High School: University at Buffalo Bachelor of Science in Accounting Item 3: Disciplinary Information Jeffrey A. Cashmore has not been involved in any activities resulting in a disciplinary disclosure. Item 4: Other Business Activities Jeffrey A. Cashmore does not have any other business activities. 32  Item 5: Additional Compensation Jeffrey A. Cashmore does not receive any economic benefit outside of regular salaries and bonuses. Item 6: Supervision Cheryl L. Fluker, Chief Compliance Officer, supervises the person named in this Form ADV Part 2B Investment Adviser Brochure Supplement. Cheryl L. Fluker supervises this person by holding regular staff, investment, and other ad hoc meetings. In addition, Cheryl L. Fluker regularly reviews client reports, emails, and trading, as well as employees’ personal securities transaction and holdings reports. Cheryl L. Fluker may be reached at (716) 632-4066 or cfluker@membersadvgrp.com. 33  Form ADV Part 2B – Investment Adviser Brochure Supplement Members Advisory Group, LLC Form ADV Part 2B Investment Adviser Brochure Supplement 6750 Main Street Williamsville, NY 14221 Phone: (716) 632-4066 Fax: (716) 632-1119 www.membersadvgrp.com Cheryl L. Fluker March 2025 This Brochure Supplement provides information about the Firm’s (“we”, “us”, “our”) employees that supplements our Brochure. You should have received a copy of that Brochure. Please contact Cheryl L. Fluker, Chief Compliance Officer, at (716) 632-4066 or cfluker@membersadvgrp.com. if you did not receive our Brochure or if you have any questions about the contents of this Supplement. Additional information about our employee(s) referenced above is also available on the SEC’s website at www.adviserinfo.sec.gov. You may search this site using a unique identifying number, known as a CRD number for each employee. 34  Item 2: Educational Background and Business Experience We generally require that employees involved in making investment decisions and providing investment advice have a college degree and/or significant experience in the investment management or financial services industries. Born 1969 Cheryl L. Fluker CRD #: 1834777 Business Background: Members Advisory Group, LLC Chief Compliance Officer 2022 to Present Client Relationship Manager 2010 to 2022 Cashmore Advisory Group, LLC Registered Sales Assistant 2008 to 2012 Membersfirst Advantage, LLC Registered Sales Assistant Administrative Associate 2002 to 2010 1997 to 2002 LPL Financial Corporation Registered Sales Assistant Administrative Associate 2002 to 2012 1997 to 2002 Formal Education after High School: Erie Community College Courses towards a Bachelor of Science in Business Administration Item 3: Disciplinary Information Cheryl L. Fluker has not been involved in any activities resulting in a disciplinary disclosure. Item 4: Other Business Activities Cheryl A. Fluker does not have any other business activities. 35  Item 5: Additional Compensation Cheryl L. Fluker does not receive any economic benefit outside of regular salaries and bonuses. Item 6: Supervision Cheryl L. Fluker, Chief Compliance Officer, supervises the persons named in this Form ADV Part 2B Investment Adviser Brochure Supplement. Cheryl L. Fluker supervises these persons by holding regular staff, investment, and other ad hoc meetings. In addition, Cheryl L. Fluker regularly reviews client reports, emails, and trading, as well as employees’ personal securities transaction and holdings reports. Cheryl L. Fluker may be reached at (716) 632-4066 or cfluker@membersadvgrp.com. 36  Form ADV Part 2B – Investment Adviser Brochure Supplement Members Advisory Group, LLC Form ADV Part 2B Investment Adviser Brochure Supplement 6750 Main Street Williamsville, NY 14221 Phone: (716) 632-4066 Fax: (716) 632-1119 www.membersadvgrp.com Connor P. Allan March 2025 This Brochure Supplement provides information about the Firm’s (“we”, “us”, “our”) employees that supplements our Brochure. You should have received a copy of that Brochure. Please contact Cheryl L. Fluker, Chief Compliance Officer, at (716) 632-4066 or cfluker@membersadvgrp.com. if you did not receive our Brochure or if you have any questions about the contents of this Supplement. Additional information about our employee(s) referenced above is also available on the SEC’s website at www.adviserinfo.sec.gov. You may search this site using a unique identifying number, known as a CRD number for each employee. 37  Item 2: Educational Background and Business Experience We generally require that employees involved in making investment decisions and providing investment advice have a college degree and/or significant experience in the investment management or financial services industries. Born 1996 Connor P. Allan CRD #: 7193021 Business Background: Members Advisory Group, LLC Financial Advisor 2023 to Present Associate Financial Advisor 2020 to 2023 Equitable Advisors, LLC Financial Consultant 2019 to 2020 Formal Education after High School: College of Wooster Bachelor of Arts in Economics Item 3: Disciplinary Information Connor P. Allan has not been involved in any activities resulting in a disciplinary disclosure. Item 4: Other Business Activities . Connor P. Allan does not have any other business activities. Item 5: Additional Compensation Connor P. Allan does not receive any economic benefit outside of regular salaries and bonuses. Item 6: Supervision Cheryl L. Fluker, Chief Compliance Officer, supervises the person named in this Form ADV Part 2B Investment Adviser Brochure Supplement. Cheryl L. Fluker supervises this person by holding regular staff, investment, and other ad hoc meetings. In addition, Cheryl L. Fluker regularly reviews client reports, emails, and trading, as well as employees’ personal securities transaction 38  and holdings reports. Cheryl L. Fluker may be reached at (716) 632-4066 or cfluker@membersadvgrp.com. 39