Fraternity-Testvériség, 1956 (34. évfolyam, 1-12. szám)
1956-04-01 / 4-5. szám
20 FRATERNITY II. At the beginning of the Second World War, our Federation suspended that part of its legal right which referred to members who joined the armed forces, namely: not to accept dues from them, and that until the signing of the peace, not to remit the full amount due on their certificates to the beneficiaries. Nevertheless, the office of the Treasurer paid out all insurance claims to the beneficiaries of these heroic dead, who gave their lives for their country. III. The Supreme Council is under obligation to invest the assets of the funds of our Federation so that they bear at least 3Vi°7o interest because our life insurance rates are based upon this income. Our Federation’s assets in 1945 were $2,634,088.43. $1,338,437.50 of these assets were exchanged from 3% and 4% interest-bearing bonds to 2% and 2%% interest-bearing United States War Bonds. Because of this, the interest earned dropped from 3.7% to 2.79%. IV. In 1937 the executives of our Reformed Federation called a meeting of the officers of all the American Hungarian societies of the country, with the purpose of opening a central office where American Hungarians, as well as the dismembered Old Country, might be defended in the name of all Hungarians from criticism and attacks. As a result of this meeting, the office of the Secretary of the American Hungarian Federation was opened in 1938. With the approval of the 1939 Convention, our Federation has contributed one cent per member toward the maintenance of the American Hungarian Federation. These contributions amonted to $37,343.32 on January 1, 1956. V. Annually our Federation contributes to the support of the American Red Cross, the Community Chest, the Tuberculosis Association, the Heart Association, the Cancer Fund, Flood Relief, and many other American charitable institutions. VI. After the end of the Second World War, through September 1, 1955, we sent medicine, food, clothing and money, without religious or social discrimination, to our Hungarian brethren behind the Iron Curtain, and to those scattered the world over. These gifts amounted to $64,165.27. VII. Even when banks and loan corporations did not consider churches safe risks for investments and refused to give them loans, the Hungarian Reformed Federation of America granted loans from its assets in order to build churches for the glory of God and the preservation of the Reformed faith. During the years between 1922 and 1955 our Federation gave loans to the following congregations for the purpose of building churches:
