THE UKRAINIAN NATIONAL ASSOCIATION FORUM (03/23/97)

THE UKRAINIAN NATIONAL ASSOCIATION FORUM

The UNA and you
Owning a home

by Stephan Welhasch

Over 66 million Americans now own their own homes. That's a greater percentage of the population than anywhere else in the world. That includes an over-all investment of more than $5.6 trillion. This is $500 billion more than what investors hold in stocks, bonds and mutual funds.

Home ownership builds pride, commitment and community stability. In addition, home ownership is the primary source of wealth of most American families. Owning a home is not just having shelter or even a large investment. It's the place where we bring our dreams to life: in flower gardens and family rooms, with backyard barbecues and home-cooked Sunday dinners. It's a place where we raise and protect our children. For many of us, it's becoming our place of business, too.

Financing your home, in fact, is probably the biggest and most important decision you will ever make. Paying off that debt typically takes 25 to 30 years, and in the early years it will eat up close to one-third of your family's income.

The most popular mortgages available to home buyers today can be divided into two general categories: those that offer fixed interest rates and monthly payments, and those where one or both of those factors are adjustable.

The traditional fixed rate/fixed payment remains the most popular home-financing method today, currently accounting for about two-thirds of all residential mortgages. Its advantages are well-known: you always know what your monthly principal and interest payment will be, so your basic housing cost will remain unaffected by interest rate changes until the mortgage is paid off.

Mortgages that entail flexible rates and/or payments are primarily more popular during periods of high interest rates and/or rapidly rising home prices. Initially, lower-than-market interest rates may allow buyers a measure of affordability unavailable in fixed-rate loans. The trade-off may be higher interest rates and higher monthly payments later on.

Of course the type of mortgage loan one should get depends on one's ability to qualify, how much one can afford and how long one plans to live in that particular home. Your monthly mortgage generally shouldn't amount to more than 28 percent of your monthly take-home pay.

If you are looking for a first mortgage loan or you need to refinance your existing mortgage loan, just call the Ukrainian National Association and our representative will help you decide which financing program best suits your needs. To find out more about the UNA's First Mortgage Loan Program or about becoming a member and sharing the many benefits the UNA has to offer, please call 1 (800) 253-9862.

Stephan Welhasch is investment manager at the UNA Home Office.

Financial corner
Prepare for your retirement with a UNA annuity plan

by Joe Binczak

It's never too soon to begin planning for the "golden years" of retirement. Purchasing a UNA annuity is a great way to start. An annuity is an interest-bearing certificate primarily designed to help you accumulate money over a period of years.

Unlike many other investments, like certificates of deposits (CDs) or savings accounts, your interest in an annuity grows without being subject to current income taxes. Other important features of our annuity programs are no sales charges on your deposit, competitive interest rates and the ability to choose between different income options that are guaranteed.

You will be able to earn the most money at retirement without worrying about your investment. Think about it - not many investments can boast the same advantages that a UNA annuity can provide.

The outline below illustrates the difference in value of a $10,000 single investment into a UNA annuity program and a taxable investment like a CD. Both accounts are earning 6.00 percent. If you are in the lowest tax bracket of 15 percent, at the end of five years your money would be worth:

· $13,382 if you invested in a UNA annuity; or

· $12,823 if you invested in a CD (or other taxable investment).

As you can see, even at the lowest tax bracket and a minimum number of five years, your savings can erode by almost $600. Can you imagine a higher tax bracket and a longer length of time for growth?

Don't waste thousands of dollars needlessly on taxes. Purchase a UNA annuity plan today and start really saving money for retirement.

For more information call 1 (800) 253-9862.

Joe Binczak is manager of sales and marketing for the Ukrainian National Association.

UNA DISTRICT COMMITTEE MEETING

Woonsocket
by Alex Chudolij

WOONSOCKET, R.I. - The annual meeting of the UNA's Woonsocket District Committee was held on March 8 at St. Michael's Ukrainian Orthodox Church Hall.

The meeting was called to order at 1 p.m. by District Chairman Leon Hardink, who asked Archimandrite Jacob Piruta to lead the gathering of 20 members in an opening prayer. Minutes of the last meeting were read by the English- and Ukrainian-language secretaries, Teodor Klowan and Yuriy Kalita, respectively. Janet Bardell's treasurer's report followed.

A letter from the Ukrainian Olympic Committee thanking the Woonsocket District for its generous monetary contribution was read. The fraternal activities coordinator, Dmytro Sarachmon, reviewed the district's 1996 fraternal activities, which included bus trips to Soyuzivka for Fathers' Day/UNA Day celebrations, as well as a trip to the PNC Arts Center Ukrainian Festival in Holmdel, N.J.

Mr. Sarachmon noted that it is becoming increasingly difficult to organize such trips. During a discussion of these topics, several members noted that it is a very long trip from Rhode Island to Soyuzivka and that they are primarily taking the trip to see the afternoon concert. It was felt that future concerts need more diversity and high-quality entertainment in order to encourage the members to make the trip.

The election of district committee officers followed. On a motion by Branch 177 Secretary John Laba, the existing slate of officers was unanimously elected for another term. The district committee executive remains as follows: Mr. Hardink, chairman; Alex Chudolij, vice-chairman (honorary chairman); Mr. Klowan, secretary (English); Mr. Kalita, secretary (Ukrainian); Ms. Bardell, treasurer; Eileen Furman, Helen Trenkler and Mr. Laba, auditors.

Mr. Chudolij then reviewed the 1996 organizing results for the Woonsocket District, as well as the UNA as a whole. He reminded the officers of their respective branches that it is important for them to submit their list of officers to the Home Office. Mr. Hardink polled the various branch secretaries and determined that all branches have already complied and submitted their officers' lists.

Mr. Chudolij mentioned the requirements for inclusion in each branch's count of members to determine their delegate count for next year's UNA's convention. It was stressed that only active and dues-paying members are included in the count.

Other topics reviewed included a reminder of the end-of-the-month deadline for UNA scholarship applications along with a review of the Scholarship Committee's criteria for determining award allocation, as well as the second annual Soyuzivka Photo Contest.

There was also some discussion about the eventual sale of the UNA building and about UNA publications.

Mr. Hardink adjourned the meeting at 2:30 p.m., inviting everyone to partake of refreshments and foods prepared by Eugenia Hardink and Irene Sarachmon.

Northern New Jersey
by Roma Hadzewycz

JERSEY CITY, N.J. - Three UNA districts voted on March 1 at a joint meeting to unite into one Northern New Jersey District of the Ukrainian National Association. District officers and representatives of 16 branches from the Jersey City, Passaic and Newark districts also elected a new executive board headed by Eugene Oscislawski (Branch 234).

Also elected were: Julian Kotlar (Branch 42) and Halyna Bilyk (Branch 170), vice-chairpersons; Lon Staruch (Branch 172), treasurer; and Marcanthony Datzkiwsky (Branch 76), secretary. The auditing committee includes Dana Jasinski (Branch 287), Myroslava Siryj (Branch 281) and Joseph Trush (Branch 214).

In recognition of their many years of hard work as chairmen of the Jersey City and Passaic UNA districts, respectively, Wolodymyr Bilyk and John Chomko were elected honorary chairmen of the newly created "super-district."

The new executive board was proposed by a nominating committee composed of Mr. Kotlar, Omelan Twardowsky and Halyna Bilyk.

Opening the meeting, UNA President Ulana Diachuk noted that the three districts were being united because, due to their close proximity they can work better united. She added that the three districts had worked together successfully in the past on various special events, such as celebrations of the UNA centennial.

The UNA Executive Committee's suggestion that the Jersey City, Passaic and Newark districts be united was later formulated into a formal motion and approved by the overwhelming majority of UNA'ers in attendance. Represented at the meeting were the following branches: 25, 37, 42, 76, 134, 170, 172, 182, 214, 234, 281, 287 and 371.

In her opening remarks Mrs. Diachuk also noted the passing of two longtime branch secretaries, Stella Ryan of Branch 171, who also was an employee of the UNA Home Office for many years before retiring in 1986, and Myron Siryj of Branch 281.

A final report for the Jersey City UNA District was delivered by Mr. Bilyk, who stated that he has worked for 16 years as chairman of that district and has many pleasant memories from those years. He especially expressed thanks to his fellow district chairmen in New Jersey with whom he had worked on numerous occasions.

The outgoing chairman of the Passaic District, Mr. Chomko, stated that because he had gotten a notification about the meeting, not as a district officer, but as a branch representative, he had not prepared a formal report.

There was no report for the Newark District, as its chairman had resigned several months earlier. However, Andre Worobec, the district's treasurer, did provide a basic financial report, noting that there was some $400 to $500 in the treasury.

Financial reports for the Jersey City and Passaic districts indicated respective balances of approximately $1,300 and $730. The first meeting of the new board was to decide on the disposition of the three districts' combined funds.

In her report on the general state of the UNA, Mrs. Diachuk reported on the 1996 organizing campaign. She said that each year the UNA loses 3,000 members (due to deaths, cash surrenders, matured endowments or paid-up policies). She noted that only 859 new members were enrolled last year, but added that, if the number of members who took advantage of the Additional Insurance Program offered by the UNA is added to that figure, then there were 2,290 new members, which means that the 1996 organizing quota was met by 120 percent.

The UNA president also reported on the three districts' organizing results.

The Jersey City District enrolled 24 new members during 1996, attaining 32 percent of its annual quota. The average face value of UNA policies sold in 1996 was $10,463, for a total of $251,126. The top organizers were: Dana Jasinski, five members; and Joseph Binczak and John Danilack, four each.

The Passaic District had nine new members in 1996, fulfilling 90 percent of its organizing quota. The average face value of certificates sold was $15,222, for a total of $137,000 of insurance. The top organizer was Mr. Kotlar with seven members.

In the Newark District, 81 new members enrolled and thus the district met 95 percent of its quota for 1996. The total amount of insurance sold was $4,456,532, for an average face value of $55,020 per policy. The best organizers were: Messrs. Oscislawski and Staruch with 25 members each; Mr. Worobec with 18; and Mr. Danilack with six.

Mrs. Diachuk underlined that this year in particular is critical because the number of convention delegates to which a branch is entitled is based on the branch's yearend membership figures. The next UNA convention is slated for May 1998 in Toronto.

She concluded her remarks by noting that, as long as the UNA has members, it will continue to publish its Ukrainian-language daily newspaper, Svoboda, The Ukrainian Weekly and the annual UNA Almanac; it will continue to support Soyuzivka and scholarships for college students; as well as to provide grants to Ukrainian community organizations.

Next to speak was UNA Secretary Martha Lysko, who focused her remarks on finding new branch secretaries and urged that all branches have assistant secretaries, who could be trained to take over as successors to secretaries. She also pointed out that special courses for UNA secretaries will be held over the course of four to five days in mid-May at Soyuzivka.

Mrs. Lysko spoke also about the newsletter that she prepares for all branch secretaries and requested once again that all branches annually send in lists of their officers to the Home Office. Branches that do not do so prior to March 31 will not receive their rewards for the first quarter, she added.

The secretary also reported that the Executive Committee had decided that no dividends would be paid out this year to members because of the costs associated with the UNA's merger with one or two other Ukrainian fraternal associations. She added that the Home Office is now implementing a new computer system and this will be happening at the time dividends are normally paid out. Mrs. Lysko further explained that members age 79 and over whose dividends pay their 12-month UNA membership dues will receive funds that will cover that sum.

The secretary ended her remarks by reviewing the new rules that apply to scholarship applicants: students must have a minimum 2.0 grade point average; scholarship applicants who hold matured Endowment at Age 18 certificates will have one year to purchase a new UNA policy, otherwise they will not qualify for further scholarships; also, beginning in the year 2000, students who have Term to Age 23 certificates will no longer be eligible for scholarships due to the extremely low cost of these policies. Here Mrs. Lysko cautioned that branch secretaries should make their members aware of this limitation well in advance of the year it goes into effect.

Finally, the secretary informed all present that the UNA Scholarship Committee had decided that students will be recognized for academic achievement via memorial scholarships that will be given in higher amounts (up to $5,000).

A special topic of discussion was mergers of the Ukrainian National Aid Association of America and the Ukrainian Fraternal Association with the UNA. Mrs. Diachuk emphasized that "there is strength in size" and that administrative costs decrease with mergers. "This is the demand of the day," she said of mergers. She added that she will travel soon to Winnipeg to speak with two fraternal organizations there that might be interested in merging with the UNA.

Regarding the merger with the UFA, Alexander Blahitka, UNA treasurer, said the New Jersey Department of Banking and Insurance does not admit the book value of the UFA's resort, Verkhovyna, and this puts the organization in a deficit position. The insurance authorities, therefore, are demanding that the resort either be sold or changed to another type of investment. He emphasized that it is not the UNA that is demanding that the UFA sell Verkhovyna, but insurance authorities.

As regards the UNA's headquarters building in Jersey City, Mr. Blahitka explained that here, too, it is the insurance authorities who are forcing the UNA's hand. They do not recognize the loan the UNA has given as an admitted asset; so the UNA has to sell the building to get this off its books as a deficit. The treasurer noted that the UNA has had several offers on the building, and that it is expected the building will be sold by the end of the year.

In its place, Mr. Blahitka said, the UNA will purchase a smaller home office. The UNA is planning to relocate to Morris County.

In response to a question about the "psychological effect" of selling its 15-story office building, Mr. Blahitka said "The building always was only an investment, and there is a time to sell an investment. It is not a monument." He added, "It is not our moral duty to have this building. We need only a home office."

The building now requires substantial funds to bring it up to standards - some $2 million is needed, but we cannot afford this, Mr. Blahitka explained. "The problem remains that the building does not produce enough income to cover our expenses; to ensure a better future for the UNA, we have to sell the building."

By selling the building, he argued, the UNA will be able to use its funds to continue supporting such fraternal benefits as the UNA's press, Soyuzivka and scholarships.

Mrs. Diachuk then continued her report by noting that sales of UNA Christmas cards had netted a profit of $19,000 for the Ukrainian National Foundation. The foundation has taken on its first project: the funding of a children's book, "Ivasyk Telesyk" by noted author Ivan Malkovych of Kyiv.

The 1997 UNA Almanac was sent to 8,000 readers, 3,000 of whom responded with donations. Thus, expenses were covered.

Mrs. Diachuk also spoke briefly about ongoing UNA projects like the English Teachers for Ukraine program, the newsletter for members called The UNA in Focus, Soyuzivka and UNA publications.

In conclusion, she thanked all for attending - including UNA Advisor Roma Hadzewycz and Honorary Member of the General Assembly Walter Sochan - and offered best wishes to the newly elected officers of the Northern New Jersey District Committee.

As the chairman of the newly created district, Mr. Oscislawski thanked all present for electing him and pledged to do everything possible for the good of the district and the UNA. He thanked Messrs. Bilyk and Chomko for their many years of hard work for the UNA and the Ukrainian community.

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