Summer is a time of the year that creates so many memories that can never be changed or discarded. As I stated in my past articles, my brother and I were very fortunate to be born into a very loving and caring family, not only our parents but our grandparents, aunts, uncles and cousins. No matter what challenges we are faced with, nothing can erase the memories created over the course of our lives.

The GCU was always a part of our family’s summer activities as GCU’s District 5 (Scranton, PA Area) Sokol Day held at Wimmers Grove was an event I always looked forward to as a youngster. “Sokol Day” featured a blend of traditional Eastern European foods, polka music and dance, providing members with a taste of their Rusyn heritage. Members of the various Lodges located within District 5 would be preparing food for weeks. Activities for all ages, such as softball games, horseshoes, egg & balloon throwing contests and bingo along with other children’s activities ensured that everyone had a good time. Adult beverages were also served as I always looked forward to the birch beer on tap. We as a family attended the annual District 5 Golf Outing and also traveled to District 7’s (New York/New Jersey Area) Golf Outings. Many times the GCU’s National Golf Tournament was our family vacation. These events served as a reunion for many families, offering a chance to reconnect with old friends and make new ones. This communal atmosphere fostered a strong sense of belonging and pride in our shared cultural heritage. Unfortunately, GCU District 5’s Sokol Day is long gone, but the memories created will last forever!

As the “GCU’s Good Old Days” may never return, the various social, fundraising and volunteer events that are planned throughout the various GCU Constellations continue. The GCU’s new Fraternal Metamorphosis Program is the start of a new beginning focusing on attracting more members to participate in the events planned, not only within our Byzantine Parish Churches but throughout the various communities our members reside in. The GCU has a long and proud history of promoting community, culture and mutual support among its members. Through its fraternal social events, GCU has successfully maintained a vibrant community spirit while honoring its rich heritage. These gatherings not only offer fun and fellowship but also reinforce the bonds that unite members across generations, ensuring that the values and traditions of GCU continue to thrive. We invite you to participate in the many volunteer, fundraising and social events planned in 2024. Please visit the GCU’s website – www.GCUusa.com – and “click” on events to view the various activities scheduled. We invite you also to check out the August 2024 issue of the GCU’s bi-monthly magazine as the fraternal section provides photos and activities held throughout the various Constellations. I recently attended our annual GCU and Byzantine Catholic Churches Day held at Kennywood Amusement Park located in the West Mifflin, PA area as a great time was had by all!

We welcome our newly appointed Chief Operations Officer Jeremy Stephenson to the GCU’s Executive Staff. Over the course of his career, Jeremy has held numerous positions within the insurance services industry during the last twenty years. We look forward to his expertise and contributions towards GCU’s continued success. I invite you to review the Board of Directors’ announcement of Mr. Stephenson’s hiring and his bio presented on page 2 of the August Magazine.

The 2024 election of the GCU’s Board of Directors concluded on July 31st, 2024 at 11:59 pm. All GCU adult benefit (insured members) members had the privilege to vote for candidates that will lead our Society over the next four years. The results of the election are presented on page 3 in the August Magazine. My personal congratulations to the candidates that have been elected as I will look forward to working with the Board as we continue to “Forge the Future of the GCU” together! A special welcome to Ron Bednar as a newly elected non-incumbent Board Member.

The GCU’s 2024 Second Quarter Financial Report by our Chief Financial Officer, Tim Demetres is presented on page 4 in the August Magazine for your review. We experienced continued asset growth as assets increased $53 million totaling $2.758 billion. Surplus declined by $4.4 million primarily due to an asset valuation reserve adjustment of $7.3 million as this required reserve provides capital for unexpected credit losses. A net income loss of $1.2 million was also experienced due to the current high interest rate environment as GCU increased annuity crediting rates to remain competitive in the Fixed Rate Deferred and Fixed Indexed Annuity marketplace. Despite the current challenges facing many financial institutions, GCU continues to maintain a strong financial position. Our sincere thank you and appreciation for your continued support and trust in placing your life and annuity business with us!

The GCU’s Fixed Rate Deferred, Fixed Indexed Annuity and Life Insurance Products are the “best in the business”! We invite you to share your GCU financial and fraternal experience with your families, friends and business associates so they too can reap the financial and fraternal benefits offered by GCU!

In closing, my best wishes to you and your family for a continued safe, relaxing and fun-filled summer! Enjoy the beautiful and colorful summer landscape that God provides.
GOODNESS IS GREAT!

George N. Juba | GCU Present CEO