Knights of Columbus # 6724 Brandon FL
Tempus Fugit Memento Mori
Fraternal Agent News
Fraternal Agent's Report
The NYSE just closed (June 27th) with the Dow Jones at 11,347. Other
indices have shown poor results too. Remember the Good Ole Days when GM,
TWA, PanAm, Xerox... were shining stars? Now major corporations are off
shoring jobs, are posting poor results, the bond markets are in turmoil.
Who wants to read another story about the housing market? Retirees from
legacy companies are losing benefits or having them cut back.
Is there no good news?
Well, Standard and Poors for the 15th consecutive year rated the Knights of
Columbus its prestigious AAA rating. In the report they declared that "KC's
capitalization is extremely strong" and that our "liquidity is viewed as
very strong."
Our "Capital Adequacy Ratio was 1084%, which is the highest in the
industry."
The Knights of Columbus returned 84% of its earnings to its members.
Our Brother Knights who have provided for their families through the Order
have witnessed first hand these benefits.
What about you? Have you provided for your family through the Order? Should
you?
In this highly volatile market, I urge each and every one of you to review
the performance of your assets as of June 30th. Compare the performance to
your December 31st balances.
How good or bad is the performance?
Look for things like monthly charges, administrative fees, transaction
fees. Many instruments out there are set to nickel and dime your account
over and over. You'll not see those fees on any of the offerings of the
Order.
Many things have changed in the marketplace over the past 126 years.
One thing that hasn't is the steadfast commitment of the Order to keep
alive Fr. McGivney's dream to protect families.
He protected his family with insurance through the Order. Most of our
Brother priests who are Knights have done the same.
What about you?
Now is the time to call for a Fraternal Review.
Fraternally,
The Cummings Team
T3 813.625.2444
Tiv 813. 857.7345
Update 9/18/2008
I have received quite a number of calls from brothers concerned about the
market volatility of late.
Would you disperse this message from the Supreme Knight Carl Anderson to
our brother Knights.
I urge all members to go to the kofc.org website to read more on what
follows:
9/18/2008
Statement on Financial Services Markets and the Knights of Columbus
The upheaval in the financial markets in recent days has caused a great
deal of concern virtually everywhere, among financial services
professionals, regulators and consumers alike. Every major financial
institution has been affected by the turmoil because of the complexity of
our economy, and we are no exception.
But I report to you today that there is no reason to be concerned about the
value of your Knights of Columbus annuity or life insurance. Because of our
very conservative approach to investing our $14 billion in assets, the
impact on the Knights of Columbus has not been material, in other words, it
has been minimal - far smaller than for many other organizations and the
industry as a whole. We have purposefully avoided investing in the highly
complex and speculative investments that have brought disaster to some of
America's most well known companies.
Update 10/28/2008
Fraternal Agent's Report
As we begin the month of November let us remember our Brother Knights who
have passed on along with those spouses who have entered into their holy
reward. Remember it was because of such tragedies that Fr. Michael J.
McGivney was inspired to start the Knights of Columbus. What if each family
were to remember our Founder by praying for his canonization?
We have been overwhelmed this past months with Brother Knights moving money
from their IRAs, 401Ks, 403bs, portfolios to the safety (A.M. Best A++ and
S&P AAA) of the Order. No Knights have lost any of their principal and
their annuities continually grow.
Effective October 1st, the new 800 Series of products has been issued.
Premiums are lower as the new mortality tables are in force. This would be
a good time to review your situation.
There is now a Guaranteed Issue Whole Life Policy available to those who
would otherwise not be insurable. It can be issued through age 65.
The popular Term to Age 30, the lowest premium (about $3/monthly) child
policy will be phased out. If you want it you must apply before year end.
If you want to make deposits into or stat an IRA, Roth IRA... for this
year, let me know.
In view of the market conditions, the importance of your annual Fraternal
Review is paramount.
Call me and let me know when you would like to meet.
Fraternally,
Tom
625-2444
