This is the time of the year that we begin to compile statistics on the community service work of our members. We haven’t finalized the numbers for this year, but last year our members contributed over 100,000 volunteer hours and over $1.2mm to various charitable and community causes. I’m sure there will be similar numbers this year.
UCT, like other Fraternals, is a non-profit financial services company. Our policyholders are members of our organization, and they own the company. They are also actively involved in improving their local communities, and the income from our financial services products helps to support their efforts. We reinvest our income in the community, so we are effectively self-sustaining philanthropies. It is a business model that resonates with many people, once they know about it. Unfortunately, not many people know about it.
UCT and other Fraternals don’t get a lot of press about their good work, but from time to time there is recognition. For example, National Underwriter published a story in February on Fraternals, encouraging agents to explore working with our organizations. The headline was “Fraternal Insurers, Doing Well by Doing Good.”
Fraternals are also being recognized by Congress. Congressional Resolution 19 recognizes and supports the good work of Fraternal Benefit Societies, and it has broad bipartisan support.