Fraternity-Testvériség, 1964 (42. évfolyam, 1-12. szám)
1964-07-01 / 7. szám
10 FRATERNITY Increase during the four-year term ........................................... $ 2,948,691.38 Increase during the previous term ........................................... $ 2,307,111.31 The rate of interest earned on our investment was steadily growing. The 1963 rate of 4.28% secured first place to the Federation among all insurance companies and societies. II. COLLECTION OF DUES During the last term we completely rewrote our printed forms used in connection with the collection of dues. New and uniform collection cards were introduced at the branches. They were completed in the Controller’s Office and branch managers were successively furnished with them. Beside securing uniform handling of the dues in the branches, the new personal account cards show the addresses of the members and contain valuable information for underwriting and organizing purposes. Monthly report forms were reprinted and arranged to have space to show computation of branch deductions. Together with the Secretary, we designed new cards for the life, sick benefit and hospitalization accounts more suitable to record data of our multiple insurance plans. A factor in the area of dues collection to be watched by the management is the growth of premium per certificate which reveals the quality of insurance held. Average monthly premium per certificate grew during the previous term from $2.50 to $2.91, while at the end of the present term this figure amounted to $3.08. Another safeguard of the progress and an acid test of good management is the relationship between net assessment and net dues collected. III. STATISTICAL SERVICE A continued inventory on membership, certificates and the amount of insurance in force was maintained in my department. We forwarded monthly fluctuation summaries to our actuarial firm, supplying them with basic data for tabulating service. A copy of these reports was sent to the Supreme Officers to keep them informed of the up-to-date standing of the Federation. IV. CLAIM SETTLEMENT My official duty is to check and make a control of all the income and expenses, and of all the management of the assets. I checked all incoming claims and bills, and after validation I computed benefits with the approval of the President. The following review, showing claim settlements during the last term, may give a clear picture of the size of that activity of the Controller.
