Fraternity-Testvériség, 1995 (73. évfolyam, 1-4. szám)
1995-04-01 / 2-3. szám
FRATERNITY Page 3 PRESIDENT'S CORNER BUSINESS & VOLUNTEERISM fu ratéinál societies are a unique blend of business N^X^and volunteerism. By law, fraternal insurance societies operate on a non-profit basis; they have a system of local branches; they provide insurance, and govern their operation by representation. Fratemalism in the U.S. has evolved during the past 138 years through branch meetings, and social, recreational, religious and civic programs. Insurance protection and care for the needy are other concerns offered by the insurance benefit system. Today more than 10 million people belong to fraternal societies in the U.S. In 1993 members of the National Fraternal Congress of America (composed of 97 individual fraternal societies) spent more than $200 million on various charitable, recreational, institutional, health, educational, religious and other membership activities. The social work that fraternals perform often goes unnoticed, because the public generally is unfamiliar with the fraternal system. This lack of familiarity extends to the insurance services that are available to members. Fraternal insurance societies are only a small segment of the life insurance industry, but they represent an important part. Namely, more than $200 billion of ordinary life insurance is in force with fraternals. The charitable and benevolent activities of the fraternal insurance societies set them apart from commercial companies. For this reason, fraternals are recognized as tax exempt under the oldest provisions of the federal income tax law. This favored status is partially offset by the cost of the charitable expenditures, such as scholarship, disaster relief, youth programs and other community functions. Balancing social functions with insurance operation should be our major project in the coming year. Our fraternal activities for the past year and a half increased considerably. This was demonstrated through our large gatherings at the combined activities in the Chicago, Pennsylvania, Ohio and New Jersey districts. Because the benefits that fraternal societies offer to their membership satisfy a wide variety of human needs, they are not in competition with commercial insurance companies in the usual sense of the word “competition”. One hundred years ago, the Federation was organized to protect and minister to the needs of its members and their loved ones. It offered the much- needed monetary security to a family when the breadwinner died. It also offered a haven to the orphans and medical security to those who needed it. Now one hundred years later, we still must cater to the needs of our members. We should recognize their needs and satisfy them. This is why our involvement with the membership is so important. We must have fraternal activities to make ourselves visible and to let our membership know that we are interested in them. We must let them know that we care and that we are even prepared to lobby for their interests. 100th ANNIVERSARY CELEBRATION OF THE HUNGARIAN REFORMED CHURCH, PASSAIC, NEW JERSEY, APRIL 29, 1995 President Dózsa addressing the guests at the opening ceremony. George Dózsa, President
