| The Holy Family Society of the U.S.A. in Joliet, and Catholic Fraternal Life in Belleville, IL announce the January 1, 2008, merger completion. The combined organizations are now known as Catholic Holy Family Society. The approval for the merger came from the Illinois Department of Insurance in December, 2007. Discussions between the two Societies began in February 2007. Both Societies held special conventions where delegates voted on the Merger Agreement and Plan of Merger that was presented to them. The vote was unanimous among all board members and delegates that attended the conventions. Both Societies are looking to the future for growth and the opportunity to serve its members in new ways. Holy Family Society President, James Rial, said the combination of these two societies “will provide all current and future members with a stronger financial and fraternal organization.” Catholic Fraternal Life’s Interim President and CEO, Thomas Sheehan, also had wonderful things to say about the merger. "If ever there has been a perfect merger, this is it. The Catholic Fraternal Life family is proud, indeed, to join forces with Holy Family Society in providing for a stronger and more effective fraternal benefit society. The membership of both organizations are the true beneficiaries of this merger". The Society will have about 90 million in assets and an estimated annual revenue of 9 million dollars. Membership of the Catholic Holy Family Society will be over 30,000. Headquarters will remain in Joliet, Illinois, with the office in Belleville at 2021 Mascoutah Avenue, remaining open to continue serving the members in Southern Illinois and Missouri. For more information, please visit Catholic Holy Family Society’s website at www.chfsociety.org. |