Since the financial crisis hit in 2008, there have been several high profile cases of people in the financial sector behaving badly. The unethical and criminal behavior that has been reported, coming on the heels of a financial meltdown, has resulted in a dramatic decrease in trust in financial institutions.
In May of this year, the Chicago Booth/Kellogg School Financial Trust Index was published, and just 22% of Americans trust the financial system.
As the authors pointed out, “…trust in financial institutions is a key factor for the smooth functioning of capital markets, and by extension, the economy. Changes in trust matter.”
While much of the anger and distrust is focused on banks, insurance companies have not fared well either.
In times like these, people can take comfort in the fraternal business model. UCT, like other fraternals, has been focused on giving back to communities for over 100 years.
Members can buy insurance from UCT knowing that the income from our insurance operations helps fund the good work they do in their local communities. They trust UCT.
Learn more about us at www.uct.org.