THE UKRAINIAN NATIONAL ASSOCIATION FORUM (02/09/97)

THE UKRAINIAN NATIONAL ASSOCIATION FORUM

To Weekly readers from the UNA president

Dear Readers:

Last year the General Assembly of the Ukrainian National Association made the difficult decision to raise subscription rates on both Svoboda, our Ukrainian-language daily, as well as the English-language Ukrainian Weekly.

As official publications of the Ukrainian National Association, a non-profit, fraternal insurance association, both newspapers serve the dual purpose of promoting the interests of the UNA, informing its membership, as well as providing general information about topics of interest and concern to the Ukrainian community in North America.

After the price increase, we expected a drop in renewals, mostly among older readers of Svoboda on limited incomes, and among those households that subscribed to both papers and then chose one over the other. However, the substantial drop in Ukrainian Weekly renewals nonetheless was greater than expected; high cost was the most frequently cited reason. After some preliminary, informal fact-finding, we came up with some information that I would like to share with you.

Though renewals dropped, The Ukrainian Weekly almost paradoxically experienced a very large increase in requests for back issues this year, especially our special editions about independence and Chornobyl. Each back issue costs us several dollars to process and mail. Instead of demanding payment up front, as do many other publications that mail back issues, we mail out the back issues, very often several copies per request, with our request for payment. This is not cost-effective for us, yet we provide it as a service for our community and readers.

In order to keep public officials informed about our community, the UNA mails complimentary copies of The Weekly to all members of the U.S. Congress, to key members of the Canadian Parliament, as well as to select offices of government and private institutions.

Unlike other publications, The Weekly does not charge higher subscription rates for institutions so that institutions such as libraries and universities will be encouraged to subscribe. In this way, more people can have access to information about Ukraine.

Free of charge, highlights from The Weekly are available on-line at http://www.std.com/sabre/UKRAINE.html.

As a service to our readers and community, each week the newspaper publishes a free calendar of events, though we realize that this service cuts into our advertising revenue.

One of the largest categories of increase in Ukrainian Weekly subscriptions is from non-UNA members, non-Ukrainian heritage subscribers, people and institutions who value The Weekly for information about Ukraine for personal and professional reasons. At present, more than 50 percent of The Ukrainian Weekly's subscribers are not UNA members.

No doubt, those who subscribe to our newspaper for professional reasons do so for our extensive coverage of Ukraine. The UNA is one of the few Western organizations that has a full-time press bureau in Ukraine. The Kyiv Press Bureau allows us to receive information and analysis first-hand on a continuous basis. To better serve our Canadian readers, a Toronto Press Bureau was opened as well. One of the reasons that only a few Western publications have full time press bureaus in Ukraine is not because there is no news in Ukraine, but because a foreign bureau is expensive. Our bureaus are completely subsidized by the UNA for its members and for our newspaper readers.

The reason I give you these details is to give you, our readers, a better sense of the environment in which we work, and the services that we provide. Unlike many ethnic newspapers that exist exclusively on advertising revenue and subscriptions, our newspapers are first and foremost a service publication subsidized by the UNA. This also allows more space for information instead of ads, and gives you, our subscribers, more news for your money.

Now dear readers, we ask this of you: If you read The Ukrainian Weekly, if only a dozen times a year, then please subscribe. If we publish information about your organization, or if your organization gets publicity from us, then please subscribe. Instead of reading your parents' copy of Svoboda and The Ukrainian Weekly when you drop off your children at "dido" and "babtsia's," or when you come to their house for dinner on Sunday, buy your own subscription. When thinking of a gift - housewarming, shower, birthday, Christmas, graduation - send a subscription to The Weekly. Instead of keeping back issues for your children who are away at school, buy them a subscription. Then they can see a picture of their brother escorting a debutante the week after it happened, not when they come home for Easter several months later.

We admire the family closeness that is one of the hallmarks of our community, and do not want to disrupt family habits. However, in the long run, publications survive only if the number of subscriptions remains constant or increases. For this we need to rely on you. The Weekly is a publication of the UNA, but it is also your community paper. We encourage and readily accept articles and information about life in our community. And we ask you to renew your subscriptions, encourage others to subscribe, subscribe yourself for the first time, or get a subscription for a friend, or for a library, or for a government official.

Our publications respond to a broad range of interests, a range that reflects the variety in our community and diversity of readers. However, besides serving our needs today, our publications also build a base for the future of our community. We should leave a solid legacy for the next generation. This we can only do together by supporting the network among ourselves, which includes The Ukrainian Weekly.

Sincerely,
Ulana M. Diachuk
President

The UNA and you
Should you refinance?

by Stephan Welhasch

As interest rates have fallen, even people who got a mortgage just two or three years ago may be able to save thousands of dollars by replacing that old loan with a new one. The old rule of thumb that mortgage rates needed to drop two percentage points before it made sense to refinance doesn't hold true any longer.

Consider a couple paying 9.5 percent on a $125,000, 15-year fixed-rate mortgage they took out a few years ago. With a new 15-year loan at 7 percent, the new monthly payment of principal and interest would drop to about to about $1,123 from $1,305 - a savings of $182 a month. Over 15 years the savings would be more than $32,000.

Searching for the best interest rate possible is paramount, but the search can be bewildering. A wise consumer should contact at least three commercial banks, thrifts and three mortgage companies. The rates and other terms of a loan can differ substantially. So, when shopping around, compare apples to apples, that is, ask all the same questions - for example, "how much is your interest rate on a 15-year fixed with 0 points?" or "What is your interest rate on a 30-year mortgage with 0 points?" (a point is usually paid at closing and represents 1 percent of the loan). This way you can more easily compare one institution's rates to another's.

Fifteen or 30-year? Many borrowers, eager to reduce their debt, are taking shorter term loans. Those who trade their 30-year mortgage for a 15-year get essentially the same payment with today's lower rates while cutting the term of the mortgage in half. Following this strategy can save you large amounts of interest over the life of the loan.

Of course, choosing between a 15-year and a 30-year loan depends on the cash needs and budget of the individual. If you can handle the payments, a 15-year mortgage is generally the better idea. You will pay off your loan and build up your net worth a lot faster.

The arguments for the 30-year mortgage are that it offers a lower monthly payment for the cash-strapped. While total interest payments over the life of the loan are greater, tax savings partly offset the interest burden. If you really want to pay off your mortgage in less than 30 years, you can always increase the size and frequency of your payments, in this way bringing down the interest payments, the principal amount owed and the term of the loan. Just make sure there's no prepayment penalty.

Even though rates have dropped recently, there is always a good chance they may swing the other way. Don't wait any longer, call the UNA and see how much you can save. Make your dreams come true.

Whether you need a first mortgage loan on a new home or you need to refinance your existing mortgage loan, your decision on whom to borrow from is most important. The UNA offers its members financing for one-, two- and three-family, owner-occupied homes throughout the United States and Canada. To find out more about mortgages, or about becoming a member and sharing in the many benefits the UNA has to offer, please call 1 (800) 253-9862.

Young UNA'ers

Bryana Victoria Melnic, daughter of Joseph and Donna Melnic, is a new member of UNA Branch 382 in Frackville, Pa. She was enrolled by her grandparents William and Julia Melnic.

Zachary W. Elliott, son of Wayne and Deborah Elliott, is a new member of UNA Branch 382 in Frackville, Pa. He was enrolled by his grandmother Anna Halupa.

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