Fraternity-Testvériség, 1973 (51. évfolyam, 1-12. szám)

1973-04-01 / 4-6. szám

IMPORTANT

Information to Policyholders

of

THE HUNGARIAN REFORMED FEDERATION OF AMERICA

Merer! Merer!

Let This Happen To lour Policy Or Certificate

NEVER — Surrender Or Lapse Your Policy:

—It is a vital part of your assured estate

—It increases in value with each paid premium (Term Insurance excepted)

—It is a permanent protection for its beneficiary

NEVER — Drop Your Policy To Take A New One:

—You cannot replace it at the same age premium Rate

—You cannot replace it without an additional annual cost POSSIBLY NOT AT ALL in case of an occupational hazard or physical impairment.

THE HUNGARIAN REFORMED FEDERATION OF AMERICA Is Under Strict State Supervision:

—Your policy has been approved by Insurance Departments where Company is licensed.

—Your Company’s assets and reserves back of your policy must be maintained in accordance with State Insurance Department Regulations. WE—

—Recommend that you as an owner of a legal reserve contract keep your policy in force by paying premiums promptly.

—Know of no plan other than Insurance that offers both immediate funds for the beneficiary in case of premature death or a cash fund (Term Insurance excepted) for the owner at retirement age, which in effect, adds to the owner’s Social Security or other retirement program.

—Warn against being influenced by idle gossip or uninformed advice. Your Company can best answer your questions.

—Advise you to contact your company or its representative should necessity create premium payment problems.

IN ALL SINCERITY

If we are helpful in any way in your keeping your policy in force at all times, we will indeed be gratified; as we know there will come a day when you will say, “I’m Grateful I Did”.

CALL OUR LOCAL

REPRESENTATIVE!

Find their names, addresses and telephone number on the last page of this magazine.

CONTROLLER’S REPORT

for the year 1972

(Excerpts)

Mr. President, distinguished Members of the Board:

I respectfully submit my report for the year 1972 as required by paragraph 46.

of our by-laws.

I. ACCOUNTING

INCOME AND DISBURSEMENT BY FUNDS

INCOME US. A. Canada

1. Consolidated Fund ........................................................$2,248,547.82 $ 58,177.33

2. Sick Benefit Fund ........................................................ 14,559.50 108.74

3. Hospitalization Fund ........................................................ 35,315.81 37.40

4. Overremittances ................................................................ 17,822.58 715.61

5. Bethlen Home Contribution ........................................... 24,000.00 —

6. Mortgage Payments ...................................................... 932,034.57 22,893.97

7. Certificate Loan Payments ........................................... 104,244.56 15.00

8. Bonds Sold ................................................................... 317,436.42 —

9. Bank Certificate Redeemed ........................................... 374,687.36 —

10. Retirement Benefit Fund ............................................. 26,897.75 —

11. Real Estate Sold ............................................................ 62,730.15 —

12. Profit & Loss on Real Estate Sold ............................. 17,557.00 —

13. Change in Book Value of Bonds ................................. 6,354.39 —

14. Profit on Bonds Sold .................................................... 28.39 —

15. Rent Income .................................................................. 42,268.00 —

16. Trust Fund of Unpaid Claims ..................................... 67,721.20 —

17. Mortgage Loan Placement Fees ................................. 3,000.00 —

18. Credit from Home Office ................................................... — 95,098.88

Total ...............................................................................$4,295,205.50 $177,046.93

Balance from 1971 ............................................... 117,474.66 78,822.69

TOTAL INCOME ...........................................................$4,412,680.16 $255,869.62

DISBURSEMENTS

1. General Expenses ............................................................$ 786,958.16 $ 11,404.51

2. Consolidated Fund ........................................................... 1,254,746.32 3,159.54

3. Sick Benefit Fund ........................................................... 10,708.78 —

4. Hospitalization Fund ....................................................... 23,541.55 420.00

5. Shortage of Branches ..................................................... 15,133.28 704.64

6. New Certificate Loan ..................................................... 96,679.11 3,798.00

7. Bank Certificate Purchased ........................................... 374,687.36

8. Bonds Purchased ............................................................. 609,073.99 144,598.88

9. Accrued Interest ............................................................. 3,881.37 —

10. New Mortgage Loans ..................................................... 725,000.00 —

11. Real Estate Acquired ..................................................... 158,804.85 —

12. Bethlen Home Dues Forwarded ................................... 24,000.00 —

13. Retirement Benefit Paid ............................................... 9,364.79 —

14. Real Estate Expenses ..................................................... 40,505.77 —

15. Investment Expenses ....................................................... 50,406.20 —

16. Trust Fund of Unpaid Claims ........................................ 68,903.71 —

17. Deposit for checking Account in Canada ....................... 95,098.88 —

Total ...............................................................................$4,347,494.12 $164,085.57

BALANCE FOR 1973 ................................................$ 65,186.04 $ 91,784.05

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