THE UKRAINIAN NATIONAL ASSOCIATION FORUM

To all members of the Ukrainian National Association

Once again the Executive Committee of the UNA has not declared a dividend and, as a result, no dividends will be paid for the year 1999. Nevertheless all members with certificates that accumulate cash value will receive interest on the existing balance of the cash value at the guaranteed interest rate as provided in the certificate. The interest rate will vary between 3.5 percent and 5 percent depending on the mortality table. This is indicated under the section "Basis of Reserves and Withdrawal Equities" in each certificate. So, in fact, your savings, accumulated in the certificate as cash value, are growing in the same way as a bank deposit to which a bank adds interest, which also is called a dividend.

An insurance company can declare and pay dividends only if the business had generated a surplus of funds that could be divided among all certificate holders. Due to the many expensive fraternal benefits that the UNA extends to its membership, no surplus could be derived in 1999.

1. Our two weekly publications, Svoboda and The Ukrainian Weekly, generated a deficit in the sum of $246,000. Furthermore, each member-subscriber receives a $10 subscription discount.

2. Our resort, Soyuzivka, had to be supported to the extent of $474,000. Furthermore, member-guests receive a 10 percent discount.

3. Our student members received $35,000 in scholarships.

4. More than 2,000 members age 79 and older who continue to pay dues for their life insurance, get their annual dues waived as a fraternal benefit. The total of this fraternal benefit amounts to over $146,000

5. Members who are chronically ill and disabled received aid totaling close to $15,000.

The amount expended to support the above fraternal activities amounted to $916,000. We have not yet included the $50 donation being awarded to each Ukrainian Saturday School graduate nationwide and other support given to the community and the membership.

We must stress the fact that thousands of members have benefited from the above activities, which are almost totally subsidized by the UNA, because the $3 fraternal dues our adult members pay amount to only $40,500. Unfortunately our last convention refused to sufficiently increase the fraternal dues to pay for at least a part of the mandated fraternal activities.

The Executive Committee has taken many steps to make our publications and the resort financially more self-sufficient. By reducing fraternal expenditures, we will free up funds for payment of dividends. But, in order to maintain the present fraternal benefits, we must grow in membership because only the increased premium income so generated will be able to support them.

We highly value your longtime membership in our association and hope to serve you, your children and grandchildren in the years to come.

- UNA Executive Committee

UNA honors high school grads

WARREN, Mich. - Sixteen students graduated from Immaculate Conception Ukrainian Catholic High School on Sunday, June 4. Among them were three UNA members, who received financial aid from the Ukrainian National Association. The three recipients were photographed during the graduation rehearsal with Principal Michaeline Weigle (second from left). The students are (from left) Mark Melymuka, Anne Maziak and Andrij Hnatiuk.

Young UNA'ers

• Alexa Leah Kolakoski, daughter of Kenneth and Leah Kolakoski, is a new member of UNA Branch 362 in Levittown, Pa. She was enrolled by her grandparents Fedir and Maria Petryk.
  
  
• Lesia Antonina Zappernick, daughter of Matthew and Nadia Zappernick, is a new member of UNA Branch 291 in Cleveland. She was enrolled by her grandparents Eugene and Vira Palka.

Copyright © The Ukrainian Weekly, June 18, 2000, No. 25, Vol. LXVIII

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