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GCU President/CEO October Report

October 14, 2021

Every Day is a Gift

It is hard to believe that three quarters of this year has passed. I do believe there is some truth to the fact that time goes by faster the older you get. For some of us, I bet that time cannot go by fast enough hoping that at some point our business and social schedules eventually return to some resemblance of our pre-COVID past ways of life. Every day that God has granted to us is a gift to enjoy. I do know that life has a way about itself—presenting many challenges to us. Many very difficult situations in our lives occur in a “heartbeat” that change our lives forever. So, for our own health and well-being, we should always make time to enjoy our family and friends and all the positive experiences and beauty nature has to offer to soothe our souls.

Here in Western Pennsylvania, we had some great summer weather with an abundance of sunshine mixed in with rain to keep “Mother Nature” green. It is very unfortunate that many communities throughout our country were subjected to catastrophic weather due to hurricanes and wildfires. We thank everyone who participated in the GCU’s Mission of Giving by donating to the Special Matching Funds Program authorized by the Board of Directors. The American Red Cross, Salvation Army and Catholic Charities will each be receiving checks of $5,000 to assist in their efforts to assist those affected by the western wildfires and Atlantic hurricanes this year.

With some relaxed COVID-19 Center for Disease (CDC) and state and local guidelines, I do hope you had an opportunity to travel, relax and take some time to “Smell the Roses!” Autumn here in the north is such an amazing feat of nature as the landscape that surrounds us transitions into a piece of artwork that God has provided for us to enjoy! So, take the time to make memories with you family and friends as there are so many fall activities to enjoy such as hayrides, corn mazes, pumpkin patches, wine and beer festivals, fall cuisine and even just a good old ride in the country!
We express our appreciation to our lodge and district officers for all the activities planned throughout the year in Promoting Faith and Fraternalism and Strengthening Communities. We invite you to review the Fraternal section that provides various events that were recently held starting on page 14 of the October Magazine.

As I previously reported in the August issue of the GCU Magazine, we continue to experience growth in assets and surplus while experiencing excellent net profit before refunds and realized gains and losses. Our life and annuity premium recorded through the first six months of 2021 exceeds 2020’s volumes and are on budget. The GCU continues to offer attractive rates on our fixed rate annuity products under the current low-rate interest environment. We are in the process of launching a new product that offers an opportunity to earn a higher rate of interest than our current fixed rate deferred annuity products with no risk of principal. We are in the process of dotting our “i’s” and crossing our “t’s” with more information on this product to be announced within the next thirty days.

The GCU’s second quarter financial statements are presented on page 4 of the October Magazine. Our Chief Financial Officer, Tim Demetres, presents a detailed commentary on the 2021 second quarter results. Again, our sincere thank you to our members and agents that enable the GCU to continue on a path of financial success.

Congratulations are warranted for Mr. Tom Oslick who has been selected as the GCU’s 2021 Fraternalist of the Year. Tom is very active in his community and his Byzantine Catholic Parish of Holy Trinity located in Wall, PA. An article appears on page 3 about Tom and his efforts throughout his community.

In closing, my continued thoughts and prayers for our health and safety as we continue to battle the challenges associated with COVID-19 and its variants. We thank our Lord and Savior and St. Nicholas, the patron saint of the GCU, that have inspired and provided the wisdom to the many individuals in developing a vaccine to combat this deadly disease as we also pray for this pandemic to end.

George N. Juba | President CEO 

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