Fraternity-Testvériség, 1981 (59. évfolyam, 1-4. szám)
1981-01-01 / 1. szám
HRFA delegates at the Kossuth Statue Cleveland, Ohio — October, 1912 conventions. On these trips, Dad regaled us with stories of his experiences with Federation business, and she especially, learned a lot of the history of the Federation. When organized, the Federation was strictly a Fraternal Aid Society. The dues were low — for a long time a dollar or less per month, and the death benefits amounted to varying 6ums, finally stabilizing at a 'housand dollars face value per policy. In addition, sick benefits were available to the members on the payment of an1 additional premium. For quite a few years after the founding of the Federation, they were limited by different state requirements to the issuance of only one type of certificate — the whole life policy. Finally, sometime in the twenties, the Fraternal groups were permitted to issue not only whole-life, but also paid-up for life and endowment policies. After some time, the sick-benefit available to the members was increased. For an additional payment ranging up to a dollar per month, they were entitled, after a waiting period of one week, to the amount of ten' dollars per week, up to ten weeks, during each year of coverage. Maternity benefits were made available to the members of the Federation, too For a small additional monthly payment, after one year membership, a benefit of twenty-five dollars was paid. While this is a small amount according to today’s standards, it was a very welcome addition at that time. Gradually, as the years wore on the Federation became a full-fledged insurance company — as good, or better than any of the national organizations such as the Metropolitan or Prudential. While not as large as those, or writing as much business yearly, the percentage of assets to liabilities of the Federation are equal or superior to many others! At the lime of it’s founding the Federation obtained a Charter or license, necessary for the transaction of its business from the State of Ohio. It occured to Thomas Madarassy, one of the members of the South Bend, Indiana Branch, that it would be well to obtain a charter from the Congress of the United States, so that chapters or branches could be established in every state of the Union. He made contact with Congressman Abraham Lincoln Brock, a personal friend, of South Bend, Ind., who procured such a Charter signed by President Theodore Roosevelt for the Federation on March 2, 1907. The Hungarian Reformed Federation of America is the only Fraternal Insurance organization with such a charter! — To be continued — 7
