THE UKRAINIAN NATIONAL ASSOCIATION FORUM (08/15/04)

THE UKRAINIAN NATIONAL ASSOCIATION FORUM

UNA Executive Committee meets to review first quarter results

by Christine E. Kozak
UNA National Secretary

PARSIPPANY, N.J. - The Executive Committee of the Ukrainian National Association Inc. met on Friday, July 9, here at the UNA's Home Office.

Present were Stefan Kaczaraj, president; Martha Lysko, first vice-president; Eugene Iwanciw, second vice-president; and Christine E. Kozak, national secretary. Roma Lisovich, treasurer, and Al Kachkowski, director for Canada, could not be present due to personal reasons.

President Kaczaraj reported a deficit of $250,000 for the first quarter of 2004, resulting in a decrease of surplus from $6,297,000 to $6,038,500. The net income from operations was $137,000, excluding expenses paid for Soyuzivka, publications and premiums paid on behalf of the UNA's senior members age 79 and over. The total fraternal benefit expenses for Soyuzivka, UNA publications and the premiums paid for seniors was $339,000.

The UNA did see a modest increase of $108,671 in premium income as compared to the first quarter in 2003. This was due mostly to the increase in premiums received from members (new policies purchased) for life insurance policies and annuities. At the same time, the UNA's commission expenses increased by $11,000; as always, first-year commissions are higher. As more life policies and annuities are sold, the UNA pays more in commissions.

General expenses for this reporting period have decreased by $23,000, mostly due to the decrease in fees paid to the various state insurance departments, noted the UNA president.

Soyuzivka had an expense increase of $93,500 when compared to this same reporting period in 2003. This is due to expenditures for repairs and maintenance in preparation for the 2004 spring and summer season, the hiring of Nestor Paslawsky as Soyuzivka's general manager, who came on board in February 2003, and insurance premium payments. Soyuzivka must not be looked at on a quarterly basis, but on an annual basis, since most income is realized in the summer months of June, July, August and September. Therefore, we are expecting to see an improvement by year-end 2004, Mr. Kaczaraj explained.

The UNA's publications, Svoboda and The Ukrainian Weekly, showed a decrease in the net loss from operations by $14,500 when compared to the same quarter in the prior year. Total expenses for both publications decreased by $43,000, thus netting a loss total of $16,400 for the first quarter of 2004. Svoboda showed a loss of 64 subscriptions and The Ukrainian Weekly had an increase of two.

The Ukrainian National Urban Renewal Corp. posted a profit of $36,782 in the first quarter of 2004. Automatic doors have been installed on both the front and back entrances to the building, improving accessibility to the building for deliveries, but most importantly for the wheelchair-bound elderly coming into the building for dialysis.

Ms. Kozak, national secretary, reported that the UNA is working diligently and tirelessly on several fronts. Our goal, she said, is to educate the Ukrainian community about the UNA, involve secretaries and districts in fraternalism, educate the Ukrainian community about the UNA insurance and annuity products, and increase the UNA membership.

The UNA has begun advertising in publications. The UNA plans to also advertise in many local community papers, on the Internet and in other Slavic newspapers.

Plans were finalized for the launch of a new UNA member benefit; the ScriptSave Prescription Medical Discount Card. This card will give UNA members access to discounts for prescription medications in over 55,000 pharmacies across the United States. In addition, this card offers discounts for hearing aids, vision care and diabetic and medical supplies, Ms. Kozak noted.

Spring district meetings were held in Chicago, Detroit, Central New Jersey, Northern New Jersey, Connecticut, Rochester and Albany, N.Y., Cleveland, New York, Rochester and Pittsburgh. At each meeting a member of the Executive Committee or a member of the General Assembly was in attendance.

The following branches were merged: Branch 222 into Branch 112, with Alice Olenchuk remaining as the branch secretary, effective February 1; and Branch 156 into Branch 173, with Peter Serba remaining as the branch secretary, effective March 1.

The national secretary acknowledged the top three achievers for most policies sold in the first quarter of 2004: Steven Woch, professional agent and Home Office employee; Nina Bilchuk, Home Office employee; and Myron Kuzio, secretary of Branch 277. The top two producers for most life insurance sold were Ms. Bilchuk and Taras Szmagala Jr. And the top three annuity producers were Mr. Woch; Christine Brodyn, secretary of Branch 27, professional agent and Home Office employee; and Mr. Kuzio. In the first quarter of 2004, the UNA had a total of 62 life insurance certificates and 17 annuities sold, for a total of $377,969 in premiums.

Osyp Hawryluk, General Assembly member, Buffalo District chairman and Branch 360 secretary, began a monthly column that is being published in both Svoboda and The Ukrainian Weekly. Mr. Hawryluk's goal is to enlighten, educate and advise the reader about the need for life insurance. His column offers readers basic information regarding life insurance and annuities; it will also educate readers in particular about UNA life insurance and annuity products.

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