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"Voters can trust Sanders because he doesn’t owe his political career to the financial overlords of the status quo," the editorial read. | Getty The Nation endorses Bernie Sanders

For just the third time in its history, liberal magazine The Nation has endorsed a presidential candidate in a primary: Bernie Sanders.

The endorsement comes on the heels of news the Vermont senator is reporting record fundraising hauls, and of his endorsement by MoveOn, the liberal advocacy organization.

"Bernie Sanders and his supporters are bending the arc of history toward justice,” the magazine’s editors wrote, praising Sanders' positions on minimum wage, healthcare, education, Wall Street, and foreign policy. “Theirs is an insurgency, a possibility, and a dream that we proudly endorse.”

While the editors endorsed Sanders, the endorsement acknowledged Sanders’ path to the presidency isn’t perfectly clear; he opposes Hillary Clinton in the primary, and, the magazine’s editors noted, he lacks deep support among minority voters. But the endorsement stressed what it characterized as the independence of his campaign.

"Voters can trust Sanders because he doesn’t owe his political career to the financial overlords of the status quo. Freed from these chains of special interest, he can take the bold measures that the country needs," the editorial read.

And while Clinton would be preferable to any Republican candidate, the magazine editors wrote that there are "limits" to her presidency." Her talk of seeking common ground with Republicans and making deals to ‘get things done’ in Washington will not bring the change that is so desperately needed,” the editors wrote.

The Nation has only endorsed three candidates during a primary in its 150-year history: Jesse Jackson in 1988, Barack Obama in 2008 and now Sanders.

"We do so now impelled by the awareness that our rigged system works for the few and not for the many,” the endorsement reads. “Americans are waking up to this reality, and they are demanding change. This understanding animates both the Republican and Democratic primaries, though it has taken those two contests in fundamentally different directions.”

The endorsement, which the magazine said has been in the works since December, will be part of a cover story in the Feb. 8 edition of the magazine.