December 18, 2015

UNA General Assembly holds 2015 annual meeting

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Roma Hadzewycz

Members of the UNA General Assembly – executive officers, auditors and advisors – at the opening of their 2015 annual meeting at Soyuzivka before the monument honoring Taras Shevchenko.

 

Marked growth reported in assets, income

KERHONKSON, N.Y. – The Ukrainian National Association’s General Assembly convened its first regular annual meeting since the UNA convention of 2014 at the Soyuzivka Heritage Center on Friday through Sunday, December 11-13. The General Assembly, which is the highest decision-making body of the UNA between its quadrennial conventions, reviewed the fraternal benefit society’s activity for the past year and adopted a plan of action for 2016.

The weekend’s sessions were marked by good news about the UNA’s progress during 2015, including a significant increase in assets, which in the first nine months of the year topped $192 million and are expected to reach $200 million by year’s end.

Reports were delivered by the three full-time executive officers of the UNA: President Stefan Kaczaraj, National Secretary Christine Kozak and Treasurer Roma Lisovich. All other General Assembly members – executive officers, advisors and auditors – as well as the editor-in-chief of the UNA’s official publications, Svoboda and The Ukrainian Weekly, had the opportunity to deliver addenda to their written reports.

Present at the meeting in addition to the full-time executives were three other executive officers, First Vice-President Michael Koziupa, Second Vice-President Eugene Oscislawski and Director for Canada Myron Groch. Also attending were: Auditing Committee members Slavko Tysiak, Eugene Serba and Andrew Gavdanovich; and Advisors Nicholas Fil, Eugene Osidacz, Andrij Szul, Gloria Horbaty, Maya Lew, Julian Pishko, Lubov Streletsky, Luba Poniatyszyn Keske, Bohdana Puzyk, Luba Maria Walchuk and Olya Czerkas.

President Kaczaraj’s report focused on the UNA’s achievements of the nine months ended September 30, 2015, and the year ended December 31, 2014. This included the marked increase in total assets, which as of September 30, 2015, are more than $192.5 million; and the net income for the first nine months of 2015, which totaled over $1.3 million. He noted that as of September 30, 2015, the UNA’s surplus was nearly $8.3 million.

The UNA president also pointed out that, although the number of print subscribers to the UNA’s two newspapers, Svoboda and The Weekly, is down, the number of online subscribers continues to grow, especially in the case of the latter when it changed to a new online platform.

While Mr. Kaczaraj provided the numbers, UNA Treasurer Lisovich filled in the context for those numbers, noting that when the UNA reaches $200 million in assets it will be the fifth-largest Ukrainian organization in the United States. That increase, she underlined, represents a “phenomenal growth in assets – a 202 percent growth from 2002 to 2015.”

In her report titled “UNA: Moving Forward on a Path to Prosperity,” she pointed out that net income is projected to grow to $1.7 million by the end of the current year, while general administrative and fraternal benefit expenses will be below $2 million for 2015. The UNA’s investment portfolio, Ms. Lisovich said, is extremely strong. Significantly, 2015 will mark the third consecutive year of net profits.

Secretary Kozak focused on the increasing professionalism of the UNA Home Office staff, as six employees working in the insurance department have now gotten their professional licenses and thus are well-versed in the basics of life insurance and provide great customer service to members. In addition, she said she was proud to announce that two more members of the General Assembly had gotten professional insurance licenses: Mr. Pishko and Ms. Walchuk. She went on to give detailed information on insurance sales by three distinct groups: branch secretaries, Home Office employees and independent field agents.

Ms. Kozak also highlighted the fact that the UNA has been working to strengthen the relationship between its members and Home Office employees. As a result of professionally licensed staff, she said, the UNA “has taken customer service to a higher dimension and is able to provide more expertise when it comes to dealing with complex issues or questions.”

The Auditing Committee presented its report to the General Assembly on its review of payroll practices at the UNA.

Also part of the program were several professional development sessions, including two presented by Ms. Lisovich: “A New Corporate Governance Model in the UNA’s Future?” that explained the new requirements that have been adopted by the National Association of Insurance Commissioners (NAIC), the standard-setting and regulatory support organization in the U.S.; and “Life Insurance Industry Outlook” on the challenges facing small insurers and fraternal societies like the UNA.

Ms. Lisovich also presented a PowerPoint look back at the UNA in the last decade in order to make General Assembly members, some of them newly elected, aware of the obstacles faced and accomplishments achieved by the organization.

The UNA’s appointed actuary, Edward F. Cowman of Miller & Newberg Consulting Actuaries, presented the actuarial report for 2014, as required by the NAIC.

Members of the General Assembly actively participated in the annual meeting’s committee sessions.

The Organizing/Fraternal Committee focused its attention on how to market the UNA to potential members, as well as informing members about the benefits of UNA social membership. Among the ideas suggested: making presentations to community groups about the UNA; re-educating community members about what the UNA is and what it does; reaching out to potenial members by stressing not just the UNA’s products but those products’ benefits; and adopting a new approach geared toward new immigrants to this country.

The Publications Committee noted the success of The Ukrainan Weekly’s new online platform, which resulted in a dramatic increase in online subscriptions; recommended the creation of a focus group to give input regarding the content of Svoboda; and discussed the goal of making Svoboda a “global community newspaper” for the Ukrainain diaspora. Also discussed were several projects to increase readership of both The Weekly and Svoboda, including transferring Svoboda to the same online platform as The Weekly.

The Finance Committee reviewed the projected budget for 2016.

The women of the UNA General Assembly place a wreath at the statue honoring the founder of Svoboda and the UNA, the Rev. Hryhory Hrushka (1859-1913).

Roma Hadzewycz

The women of the UNA General Assembly place a wreath at the statue honoring the founder of Svoboda and the UNA, the Rev. Hryhory Hrushka (1859-1913).

During the concluding discussion of miscellaneous matters, it was underscored that UNA members will continue to receive a fraternal benefit at the Soyuzivka Heritage Center; a member discount is to be determined by a committee struck for that purpose.

On Sunday, UNA General Assembly members attended liturgy at Holy Trinity Ukrainian Catholic Church after which the pastor, the Very Rev. Dr. Ivan Kaszczak, led the congregation in prayer for UNA leaders who had passed away.

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