Catholic Financial Life Blog

Giving Back to Our Catholic Members Through Fraternal Benefits

Posted by catholicfinanciallife

Sep 6, 2012 5:29:25 AM

At Catholic Financial Life, giving back to our members is our main goal. In 2011, we put our Catholic values in action by providing a variety of benefits and programs to our members, which in turn help them continue their mission of serving God by serving others within their local communities. We are proud of our track record of sharing our financial successes with our members.

In 2011, the Society distributed nearly $30 million in the form of dividends and interest to our members, and more than $377,000 was distributed through our member benefit programs, and $234,500 awarded to member-students attending grade school, high school and college through our scholarship programs.

As a result, more than 95% of our life insurance and annuity business continued in force, exceeding industry averages and demonstrating our members’ loyalty and recognition of the outstanding value they receive.

Here are some benefit highlights:

  • Family Protection Benefit - $13,000 was provided to members through the Prenatal Benefit, Newborn Benefit, and Guaranteed Issue Benefits.

  • Orphan Program - $8,200 in financial assistance to member-orphans for monthly living expenses and college tuition

  • Child Cancer Treatment Benefit - $10,000 was issued to assist members with the cost of cancer treatment

  • Spiritual Benefits - $15,171 was distributed to members to help them attend Catholic summer camps and retreats, and to commemorate Baptisms, First Communions, and Weddings

  • Estate Planning Benefit - $6,050 in financial subsidies to 121 members for the preparation or updating of estate planning documents

  • Family Care Suite – 30 members took advantage of the hospitality apartment offered to members or families of members receiving medical treatment in the Milwaukee area

  • ScriptSave® - Members saved $78,756 on 4,724 prescriptions through this prescription savings program

  • 50 & 75-Year Member Recognition – More than $41,000 was used to honor our long-time loyal members

  • Regional Member Activities – More than 8,000 members attended ballgames, a zoo outing, camp out, pilgrimage, and other regional events

  • Scholarships to Members - $94,000 was awarded to member-students attending Catholic elementary schools. $70,000 was given to Catholic high school students, and $70,500 helped members attend college

The most important outcome of 2011 is that Catholic Financial Life continued to fulfill its promises to you, our members. Together we strengthened our financial position while continuing our commitment to provide financial assistance to our members and to support your volunteer efforts in making your communities, schools and parishes better places to live, learn and worship.

The increased uncertainty in our economy means that now more than ever, the Society’s long-standing tradition of conservative fiscal management will serve our members well.

We remain committed to enhancing the organization’s long-standing tradition of financial stability.

For more information about our membership benefits, please contact Catholic Financial Life today.

Topics: Member Magazine, Volunteerism & Service, Catholic Values in Action, Our Catholic Faith